Browsing RSCAS Working Papers by Author "CORSETTI, Giancarlo"

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Browsing RSCAS Working Papers by Author "CORSETTI, Giancarlo"

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    Title: Optimal Monetary Policy in Open Economies  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2010 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: 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 ...
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    Title: Debt Consolidation and Fiscal Stabilization of Deep Recessions  Author(s): CORSETTI, Giancarlo; KUESTER, Keith; MEIER, André; MÜLLER, Gernot J. Date: 2010 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: The global financial crisis of 2008–09 has sent public debt on sharply higher trajectories. With the economic recovery gradually taking hold, the focus is now shifting to fiscal “exit” strategies. Medium-term ...
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    Title: Fiscal Stimulus with Spending Reversals  Author(s): CORSETTI, Giancarlo; MEIER, André; MÜLLER, Gernot J. Date: 2009 Type of Publication: Working Paper Series/Report no.: IMF working paper
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    Title: Fiscal Stimulus with spending reversals  Author(s): CORSETTI, Giancarlo; MEIER, André; MÜLLER, Gernot J. Date: 2009 Type of Publication: Working Paper Series/Report no.: CEPR discussion paper Abstract: The impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending ...
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    Title: Varieties and the Transfer Problem: The Extensive Margin of Current Account Adjustment  Author(s): CORSETTI, Giancarlo; MARTIN, Philippe; PESENTI, Paolo Date: 2008 Type of Publication: Working Paper Series/Report no.: NBER Working Paper Series
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    Title: The International Dimension of Productivity and Demand Shocks in the US Economy  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2008 Type of Publication: Working Paper Series/Report no.: CEPR Abstract: This paper investigates the international dimension of productivity and demand shocks to US manufacturing. Identifying shocks with sign restrictions based on standard theory predictions we find that productivity gains in ...
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    Title: A Modern Reconsideration of the Theory of Optimal Currency Areas  Author(s): CORSETTI, Giancarlo Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: What can be learnt from revisiting the Optimal Currency Areas (OCA) theory 50 years from its birth, in light of recent advances in open economy macro and monetary theory? This paper presents a stylized micro-founded model ...
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    Title: Varieties and the Transfer Problem: The Extensive Margin of Current Account Adjustment  Author(s): CORSETTI, Giancarlo; MARTIN, Philippe; PESENTI, Paolo Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI RSCAS Abstract: Most analyses of the macroeconomic adjustment required to correct global imbalances ignore net exports of new varieties of goods and services and do not account for firms'net entry in the product market. In this paper we ...
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    Title: Optimal Monetary Policy and the Sources of Local-Currency Price Stability  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2007 Type of Publication: Working Paper Series/Report no.: NBER Working Paper Abstract: [http://www.nber.org/papers/w13544]
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    Title: Twin Deficits, Openness and the Business Cycle  Author(s): CORSETTI, Giancarlo; MÜLLER, Gernot J. Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: In this paper, we study the co-movement of the government budget balance and the trade balance at business cycle frequencies. In a sample of 10 OECD countries we find that the correlation of the two time series is negative, ...
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    Title: Varieties and the Transfer Problem: The Extensive Margin of Current Account Adjustment  Author(s): CORSETTI, Giancarlo; MARTIN, Philippe; PESENTI, Paolo Date: 2007 Type of Publication: Working Paper Series/Report no.: CEPR Discussion Paper Series
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    Title: New Open Economy Macroeconomics  Author(s): CORSETTI, Giancarlo Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI RSCAS Abstract: The New Open Economy Macroeconomics refers to a vast body of literature embracing a new theoretical framework for policy analysis in open economy, with the goal of overcoming the limitations of the Mundell-Fleming model, ...
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    Title: Optimal Monetary Policy and the Sources of Local-Currency Price Stability  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI RSCAS Abstract: 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 ...
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    Title: Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism Among G7 Countries  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2006 Type of Publication: Working Paper Series/Report no.: CEPR Discussion Papers
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    Title: Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism among G7 Countries  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2006 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: This paper investigates the international transmission of productivity shocks in a sample of ve G7 countries. For each country, using long-run restrictions, we identify shocks that increase permanently domestic labor ...
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    Title: Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism Among G7 Countries  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2006 Type of Publication: Working Paper Series/Report no.: NBER wp
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    Title: Openness and the Case for Flexible Exchange Rates  Author(s): CORSETTI, Giancarlo Date: 2005 Type of Publication: Working Paper Series/Report no.: EUI ECO
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    Title: Towards a Theory of Firm Entry and Stabilization Policy  Author(s): CORSETTI, Giancarlo; BERGIN, Paul Date: 2005 Type of Publication: Working Paper Series/Report no.: CEPR Discussion Papers Abstract: This paper explores the role of stabilization policy in a model where firm entry responds to shocks and uncertainty. We evaluate stabilization policy in the context of a simple analytically solvable sticky price model, ...
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    Title: DSGE Models of High Exchange-Rate Volatility and Low Pass-Through  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2005 Type of Publication: Working Paper Series/Report no.: CEPR Discussion Papers Abstract: This paper develops a quantitative, dynamic, open-economy model which endogenously generates high exchange rate volatility, whereas a low degree of exchange rate pass-through (ERPT) stems from both nominal rigidities (in ...
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    Title: DSGE Models of High Exchange-Rate Volatility and Low Pass-Through  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2005 Type of Publication: Working Paper Series/Report no.: EUI ECO