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Welfare implications of joining a common currency [PDF]
This paper examines the welfare implications of a country joining a currency union as opposed to operating in a flexible exchange rate regime. At the country level, the suboptimal response to domestic and foreign shocks and the inability of setting ...
Ca' Zorzi, Michele +2 more
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A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility [PDF]
While up to the late 1990s Japanese foreign exchange intervention was fully sterilized, Japanese monetary authorities left foreign exchange intervention unsterilized when Japan entered the liquidity trap in 1999. According to previous research on foreign
Hillebrand, Eric, Schnabl, Gunther
core
The performance of forecast-based monetary policy rules under model uncertainty [PDF]
We investigate the performance of forecast-based monetary policy rules using five macroeconomic models that reflect a wide range of views on aggregate dynamics. We identify the key characteristics of rules that are robust to model uncertainty: such rules
Levin, Andrew T. +2 more
core
Monetary policy and learning in an open economy [PDF]
In this paper, we examine the incentives for central bank activism and caution in a two-country open-economy model with uncertainty and learning. We find that the presence of a strategic interaction between the home and foreign central banks creates an ...
Ellison, Martin +2 more
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Mean dynamics govern convergence to rational expectations equilibria of self-referential systems under least squares learning. We highlight escape dynamics that propel away from a rational expectations equilibrium under fixed-gain recursive learning ...
Cho, In-Koo, Sargent, Thomas J.
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El Trimestre Económico, 2016 El objetivo de este artículo es verificar la presencia de asimetrías en la actuación del Banco Central Europeo (BCE) desde el inicio de su mandato hasta finales de 2014. La metodología utilizada es doble: la estimación, mediante el método de los momentos
Esther Barros-Campello +2 more
doaj
Marsupialisation of a tunnel flap for a false oesophageal lumen post peroral endoscopic myotomy. [PDF]
EndoscopyAhmadzai H +6 more
europepmc +1 more source
The performance and robustness of interest-rate rules in models of the euro area [PDF]
In this paper, we examine the performance and robustness of optimised interest-rate rules in four models of the euro area which differ considerably in terms of size, degree of aggregation, relevance of forward-looking behavioural elements and adherence ...
Adalid, Ramón +3 more
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Cytological Features of Pancreatic Medullary Carcinoma Diagnosed by Endoscopic Ultrasound-Guided Fine Needle Aspiration. [PDF]
Diagn CytopatholOkawa U +4 more
europepmc +1 more source