A well-documented literature exists on the impact of global oil shocks on small open
economies (SOEs). However, it still disregards the international financial (uncertainty) …

We develop a model to analyze the optimal combination of macroprudential and monetary
policies in a small open commodity-exporting economy. Unlike a closed economy, where …

Changes in oil prices differently impact the macro fundamentals of oil-importing and oil-
exporting countries. For the latter, oil price booms improve fiscal policy, real exchange rate …

We report the empirical evidence of procyclicality (regarding the credit developments) of
interest rate setting in a group of inflation targeting emerging market economies: monetary …

This paper presents a semi-structural quarterly projection open-economy model for
analyzing monetary policy transmission and macroeconomic developments in Kazakhstan …

Terms of trade (ToT) shocks drive business cycles and have direct impact on the
macroeconomic equilibrium conditions in commodity-exporter countries. ToT shocks also a …

We develop a dynamic model of the optimal capital structure of a nation from a corporate
finance perspective. A stochastic model is developed to determine the optimal combination …

This paper studies how the effect of macroeconomic shocks on inflation depends on the
severity of restrictions on international borrowing and imports. Using a calibrated model of a …

Резюме В настоящей статье исследуется вопрос о том, как эффект
макроэкономических шоков на инфляцию зависит от степени жесткости ограничений …

At the end of 2014, the Bolivian economy, despite facing negative external shocks (falling oil
prices), registered a high economic growth in the region of Latin America. Monetary policy …