Title:Optimal Monetary Policy and the Sources of Local-Currency Price Stability
Author(s):CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, SylvainDate:2007Type of Publication:Working PaperSeries/Report no.:EUI RSCASAbstract:We analyze the policy trade-offs generated by local currency price stability of imports in economies where upstream producers strategically interact with downstream firms selling the final goods to consumers. We study the ...
Title:Optimal Monetary Policy in Open Economies
Author(s):CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, SylvainDate:2010Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This chapter studies optimal monetary stabilization policy in interdependent open economies, by proposing a unified analytical framework systematizing the existing literature. In the model, the combination of complete ...
Title:Optimal Pre-Announced Tax Reform Revisited
Author(s):TRABANDT, MathiasDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Domeij and Klein (2005) have shown that the welfare gains of an optimal capital and labor income tax reform decline the longer the reform is pre-announced before its implementation. In other words, pre-announcement is ...
Title:Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets
Author(s):GOTTARDI, Piero; KAJII, Atsushi; NAKAJIMA, TomoyukiDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We study the dynamic Ramsey problem of finding optimal public debt and linear taxes on capital and labor income within a tractable infinite horizon model with incomplete markets. With zero public expenditure and debt, it ...
Title:Optimal-Control of Input Output Systems Via Demand Management
Author(s):SACCO, Pier LuigiDate:1992Type of Publication:ArticleAbstract:This paper studies the optimal control of an input-output model with two sectors where the policy maker controls the level of final demand. It is found that the stationary point is hyperbolic and has a stable manifold of ...
Title:An Overview of the Crisis: Causes, Consequences and Solutions
Author(s):ALLEN, Franklin; CARLETTI, ElenaDate:2009Type of Publication:ArticleAbstract:What caused the crisis? Initially many thought that it was due to incentive problems in the U.S. mortgage industry. However, after the large economic meltdown following Lehman Brothers' bankruptcy in September 2008, it ...
Title:Ownership structures and firm performance
Author(s):SERRANO-VELARD, NicolasDate:2009Type of Publication:ThesisSeries/Report no.:EUI PhD thesesAbstract:No abstract available
Title:Parameter Estimation in Nonlinear AR-GARCH Models
Author(s):MEITZ, Mika; SAIKKONEN, PenttiDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper develops an asymptotic estimation theory for nonlinear autoregressive models
with conditionally heteroskedastic errors. We consider a functional coe cient autoregression
of order p (AR(p)) with the conditional ...
Title:A Parametric Estimation Method for Dynamic Factor Models of Large Dimensions
Author(s):KAPETANIOS, George; MARCELLINO, MassimilianoDate:2009-01-01Type of Publication:ArticleAbstract:The estimation of dynamic factor models for large sets of variables has attracted considerable attention recently, because of the increased availability of large data sets. In this article we propose a new parametric ...