Deflationary Shocks and Monetary Rules: an Open-Economy Scenario Analysis
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The paper considers the macroeconomic transmission of demand and supply shocks in an open economy under alternative assumptions on whether the zero interest floor (ZIF) is binding. It uses a two-country general-equilibrium simulation model calibrated to the Japanese economy vis-a-vis the rest of the
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美国国家经济研究局创建时间：
2006-11-01
