Now showing items 1-4 of 4
Escaping the Great Recession
(Economic Research Initiatives at Duke (ERID), 2015-01-01)
High uncertainty is an inherent implication of the zero lower bound, while deflation is not because of inflationary pressure due to uncertainty about how debt will be stabilized. We show that policy uncertainty empirically ...
Constrained Discretion and Central Bank Transparency
(Economic Research Initiatives at Duke (ERID), 2015-02-01)
We develop and estimate a general equilibrium model to quantitatively assess the effects and welfare implications of central bank transparency. Monetary policy can deviate from active inflation stabilization and agents conduct ...
Globalization and Inflation: Structural Evidence from a Time Varying VAR Approach
(Economic Research Initiatives at Duke (ERID), 2013-07-01)
Under the Globalization Hypothesis for inflation, as globalization increases, global economic slack should progressively replace the domestic gap in driving inflation. In order to assess the empirical support for this theoretical ...
Growth, Slowdowns, and Recoveries
(Economic Research Initiatives at Duke (ERID), 2014-11-01)
We construct and estimate a model that features endogenous growth and technology diffusion. The spillover effects from research and development provide a link between business cycle fluctuations and long-term growth. Therefore, ...