Why may large economies suffer more at the zero lower bound?
dc.contributor.author | Brzoza-Brzezina, Michał | |
dc.date.accessioned | 2023-07-21T09:02:14Z | |
dc.date.available | 2023-07-21T09:02:14Z | |
dc.date.issued | 2016-06 | |
dc.identifier.citation | Brzoza-Brzezina M., Why may large economies suffer more at the zero lower bound?, SGH KAE Working Papers, 2016, nr 2016/012, s. 1-18 | en |
dc.identifier.uri | http://hdl.handle.net/20.500.12182/1096 | |
dc.description.abstract | This 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.language.iso | en | |
dc.rights | Dozwolony użytek | * |
dc.subject | zero lower bound | en |
dc.subject | small open economy | en |
dc.subject | amplification of shocks | en |
dc.subject.classification | E43 | en |
dc.subject.classification | E52 | en |
dc.title | Why may large economies suffer more at the zero lower bound? | en |
dc.type | workingPaper | en |
dc.description.number | 2016/012 | en |
dc.description.physical | 1-18 | en |
dc.description.series | SGH KAE Working Papers Series | en |
dc.identifier.urlpublisher | http://wydawnictwo.sgh.waw.pl | en |
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