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On the Empirical Relevance of the Exchange Rate as a Shock Absorber at the Zero Lower Bound
The open economy New Keynesian model with flexible exchange rates postulates that the real exchange rate appreciates in response to an asymmetric negative demand shock in a zero lower bound (ZLB) scenario and exacerbates the adverse macroeconomic effects. However, when monetary policy is able to acc...
Kaydedildi:
| Yayımlandı: | MAGKS - Joint Discussion Paper Series in Economics (Band 34-2022) |
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| Asıl Yazarlar: | , , |
| Materyal Türü: | Makale |
| Dil: | İngilizce |
| Baskı/Yayın Bilgisi: |
Philipps-Universität Marburg
2022
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| Konular: | |
| Online Erişim: | PDF Tam Metin |
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MAGKS - Joint Discussion Paper Series in Economics