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Revisiting speculative hyperinflations in monetary models: A rejoinder
In this note, we present a formal proof of Obstfeld and Rogoff's (1983, 2021) claim that their fractional-currency-backing scheme eliminates the inflationary equilibria in the money-in-utility model. ...
Review of Economic Dynamics, 2024
Stabilization policy and lags
Macroeconomic stabilization policy is notoriously subject to inside lags (which delay the reaction of policy to the state of the economy) and outside lags (which delay the effects of policy on the eco ...
Journal of Mathematical Economics, Volume 111, April, 2024
Revisiting speculative hyperinflations in monetary models: A rejoinder
In this note, we present a formal proof of Obstfeld and Rogoff's (1983, 2021) claim that their fractional-currency-backing scheme eliminates the inflationary equilibria in the money-in-utility model. ...
Review of Economic Dynamics, Volume 52, Pages 64-69, April, 2024
The Implementation of Stabilization Policy
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Theoretical Economics, 2021
Pegging the interest rate on bank reserves: A resolution of New Keynesian puzzles and paradoxes
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Journal of Monetary Economics, 2021