On the Empirical Relevance of the Exchange Rate as a Shock Absorber at the Zero Lower Bound

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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Veröffentlicht in:MAGKS - Joint Discussion Paper Series in Economics (Band 34-2022)
Autoren: Finck, David, Hoffmann, Mathias, Hürtgen, Patrick
Format: Artikel
Sprache:Englisch
Veröffentlicht: Philipps-Universität Marburg 2022
Schlagworte:
Wirtschaft
Zero Lower Bound
Local Projections, State-dependent Effects
Exchange Rate
Economics
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MAGKS - Joint Discussion Paper Series in Economics

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