Listagem FGV EPGE - Seminários de Pesquisa Econômica por Assunto "Política monetária"
Itens para a visualização no momento 1-12 of 12
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Contracting with repeated moral hazard and private evaluations
2005-11-29A repeated moral hazard setting in which the Principal privately observes the Agent’s output is studied. It is shown that there is no loss from restricting the analysis to contracts in which the Agent is supposed to exert ... -
Demand-pull stagflation
1999-08-19This paper explores the possibility of stagflation emanating exc1usively from monetaJy sbocks, without concurrent supply shocks or shifts in potential output. This arises in connection with a tight money paradox. in the ... -
Does monetary policy stabilize the exchange rate following a currency crisis?
1999-05-27This paper provides evidence on the relationship between monetary policy and the exchange rate in the aftermath of currency crises. It ana1yzes a large data set of currency crises in 80 countries in the period 1980 to 1998. ... -
Imperfectly credible disinflation under endogenous time-dependent pricing
2005-09-08The real effects of an imperfectly credible disinflation depend critically on the extent of price rigidity. Therefore, the study of how policymakers’ credibility affects the outcome of an announced disinflation should not ... -
Monetary dynamics in a general equilibrium version of the Baumol-Tobin model
2004-08-26I study the welfare cost of inflation and the effect on prices after a permanent increase in the interest rate. In the steady state, the real money demand is homogeneous of degree one in income and its interest-rate ... -
Monetary policy, default risk and the exchange rate
2007In a country with high probability of default, higher interest rates may render the currency less attractive if sovereign default is costly. This paper develops that intuition in a simple model and estimates the effect of ... -
A restatement of the welafare costs of inflation. The wast of scarce resources in the manufacturing , banking and household sectors
2001-05-31Lucas (2000) estimates that the US welfare costs of inflation are around 1% of GDP. This measurement is consistent with a speci…c distorting channel in terms of the Bailey triangle under the demand for monetary base schedule ... -
The Taylor rule under inquiry: Hidden states
2005-09-22This work empirically evaluates the Taylor rule for the US and Brazil using Markov-Switching Regimes. I find that the inflation parameter of the US Taylor rule is less than one in many periods, contrasting heavily with ... -
Taylor rule with hidden states
2004-10-28This work evaluates empirically the Taylor rule for the US and Brazil using Kalman Filter and Markov-Switching Regimes. We show that the parameters of the rule change significantly with variations in both output and output ... -
Toward a theory of international currency : a step further
1995-09-06We generalize the two-country, two-currency model of Matsuyama, Kiyotaki and Matsui to resolve two 'shortcomings' in their approach. First, we endogenize prices and excb.ange rates. Second, we introduce monetary policy. ...
