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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...
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| 發表在: | MAGKS - Joint Discussion Paper Series in Economics (Band 34-2022) |
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| Autoren: | , , |
| 格式: | Artikel |
| 語言: | 英语 |
| 出版: |
Philipps-Universität Marburg
2022
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| 主題: | |
| 在線閱讀: | PDF-Volltext |
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MAGKS - Joint Discussion Paper Series in Economics