The Macroeconomic Stabilization of Tariff Shocks: What is the Optimal Monetary Response?
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In the wake of Brexit and Trump trade war, central banks face the need to reconsider the role of monetary policy in managing the inflationary-recessionary effects of hikes in tariffs. Using a New Keynesian model enriched with global value chains and firm dynamics, we show that the optimal monetary
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美国国家经济研究局创建时间：
2020-04-01
