 주목할만한 연구
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How Should Central Banks Respond to Commodity Price Shocks? Optimal Monetary and Exchange Rate Frameworks for Commodity-Exposed Economies We show that the optimal monetary policy and exchange rate framework depend critically on the economy’s commodity exposure. We develop a flexible but tractable model economy with commodity exports and imports, in which i .. more
NBER (2026-05-25) |
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The Heterogeneous Bank Lending Channel of Monetary Policy How does heterogeneity in banks' interest-rate risk exposure shape monetary policy transmission? We develop a quantitative macroeconomic model of heterogeneous banks to answer this question. We establish an irrelevance r .. more
NBER (2026-05-25) |
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Learning monetary policy strategies at the effective lower bound with sudden surprises We examine how private sector agents might learn a new monetary strategy introduced while policy rates are at their effective lower bound (ELB) in an environment with large inflationary and deflationary shocks. We consid .. more
BIS (2026-05-20) |
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