Przeglądaj Kolegium Analiz Ekonomicznych / Collegium of Economic Analysis według tematu "amplification of shocks"
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Why may large economies suffer more at the zero lower bound?
(2016-06)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 ...