Stimulus checks have become an increasingly important policy tool in recent US recessions.
How does the households' marginal propensity to spend (MPX) vary as checks become …

Shocks to capital utilization are introduced in a structural macroeconomic model with
financial frictions. Estimates for the Euro Area and the United States show that these shocks …

This paper provides a large‐scale Canadian macroeconomic database and shows its
usefulness for empirical macroeconomic analysis. The data set contains hundreds of …

A New Keynesian monetary business cycle model is constructed to study why monetary
transmission in India is weak. Our models feature banking and financial sector frictions as …

Abstract Focusing on Euro Area countries we show empirically that higher private debt leads
deeper recessions, while higher public debt does not, unless the level of public debt is …

Do the different types of financial friction have differential implications for monetary
transmission in emerging economies? We investigate this question using India as the …

While there are numerous studies on the relationship between monetary policy and
economic growth, evaluating the policy nexus between the two phenomena remain …

The effect of US monetary policy on EMEs is one of the fiercely debated issues in
international finance. We contribute to this debate using micro-and macro-level analyses …

We develop a two-country, two-sector overlapping generations model to examine the effect
of population aging on the real exchange rate (RER). While an older population raises the …

Since sectors differ in their sensitivity to interest rates, monetary policy produces inefficient
sectoral fluctuations. In a model with sectoral heterogeneity, I show that policymakers should …