The basic (representative-household) New Keynesian model of the monetary transmission
mechanism is extended to allow for a spread between the interest rate available to savers …

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This paper proposes a postcrisis New Keynesian model that incorporates agent
heterogeneity in borrowing and lending with a minimum set of assumptions. Unlike the …

Deleveraging from high debt can provoke deep recession with significant international side
effects. Swings in the nominal exchange rate and large variations in consumption, output …

This paper examines optimal monetary policy in a currency union model with liquidity-
constrained (LC) consumers. The result demonstrates that given LC consumers in the home …

This paper explores the optimal allocation of government bond purchases within a monetary
union, using a two-region DSGE model, where regions are asymmetric with respect to …

I study the role of firms' uncertainty in the transmission of forward guidance to investment. To
do so, I employ a quarterly firm-level panel of US publicly traded firms. I measure forward …

This study estimates the monetary policy reaction function (MPRF) in a Dynamic Stochastic
General Equilibrium (DSGE) framework using Bayesian analysis for the emerging …

The paper derives “targeting rules” for optimal policy in a simple two-country model in which
financial markets are incomplete and policy is non-cooperative. The optimal rules are …

Entrepreneurship has always paved the way for the growth and development of nations in
multiple ways including employment generation, resource mobilization, and boosting …