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dc.contributor.authorBrzoza-Brzezina, Michał
dc.identifier.citationBrzoza-Brzezina M., Why may large economies suffer more at the zero lower bound?, SGH KAE Working Papers, 2016, nr 2016/012, s. 1-18en
dc.description.abstractThis paper compares the consequences of hitting the zero lower bound in small open and large closed economies. I costruct a two-economy New Kenynesian model and calibrate it so that one economy is small and open and the second large and closed. Then I conduct a number of experiments assuming that the zero lower bound binds for one or the other economy. At the ZLB bad shocks are amplified and good shocks dampened. I show that these modifications are much stronger in the large than in the small economy. As a result the large economy may suffer more at the ZLB.en
dc.rightsDozwolony użytek*
dc.subjectzero lower bounden
dc.subjectsmall open economyen
dc.subjectamplification of shocksen
dc.titleWhy may large economies suffer more at the zero lower bound?en
dc.description.seriesSGH KAE Working Papers Seriesen

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