Search Results

Showing results 1 to 10 of approximately 10.

(refine search)
Author:Vilan, Diego 

Working Paper
Investment-specific technology shocks and international business cycles: an empirical assessment

In this paper, we first introduce investment-specific technology (IST) shocks into an otherwise standard international real business cycle model and show that a thoughtful calibration of them along the lines of Raffo (2009) successfully addresses several of the existing puzzles in the literature. In particular, we obtain a negative correlation of relative consumption and the terms of trade (Backus-Smith puzzle), as well as a more volatile real exchange rate, and cross-country output correlations that are higher than consumption correlations (price and quantity puzzles). Then we use data from ...
FRB Atlanta Working Paper , Paper 2010-03

Journal Article
A falling dollar : good or bad news?

Against some other major currencies around the world, the value of the U.S. dollar has dropped considerably in recent years. Whether it helps or harms the U.S. economy is a matter of perspective.
EconSouth , Volume 9 , Issue 1

Journal Article
Should we worry about the inverted yield curve?

EconSouth , Volume 9 , Issue 1

Journal Article
When more is better: assessing the southeastern economy with lots of data

The authors estimate a model that provides a single indicator for the southeastern economy, making it easier for policymakers and analysts to assess regional economic conditions and compare them to the broader economy.
Economic Review , Volume 92 , Issue Q 3 , Pages 17-26

Working Paper
Bayesian estimation of NOEM models: identification and inference in small samples

This paper studies the (potential) weak identification of these relationships in the context of a fully specified structural model using Bayesian estimation techniques. We trace the problems to sample size, rather than misspecification bias. We conclude that standard macroeconomic time series with a coverage of less than forty years are subject to potentially serious identification issues, and also to model selection errors. We recommend estimation with simulated data prior to bringing the model to the actual data as a way of detecting parameters that are susceptible to weak identification in ...
Globalization Institute Working Papers , Paper 105

Journal Article
Is more still better? Revisiting the Sixth District Coincident Indicator

A revised version of the D6 Factor model of the southeastern economy is better than the original at describing contemporary economic activity and allows for historical comparisons across several business cycles.
Economic Review , Volume 94 , Issue 3

Journal Article
Buy foreign while you can: the cheap dollar and exchange rate pass-through

Despite the dollar?s real depreciation in the past few years, the U.S. trade deficit has continued to increase, with the level of imports reaching record highs. Why has the cheaper dollar not made imports more expensive and exports more attractive and, in turn, reduced the trade deficit? ; This article presents evidence on the degree of exchange rate pass-through (ERPT)?the extent to which U.S. domestic import prices have moved in response to changes in the exchange rate?from December 1993 through December 2004. Using monthly data, the authors first decompose domestic import prices to their ...
Economic Review , Volume 90 , Issue Q 3 , Pages 15-36

Journal Article
The evolution and implications of the U.S. current account deficit

The global economy has focused increasing attention on the U.S. current account deficit. Placing this economic measurement in perspective is central to understanding its potential effects.
EconSouth , Volume 7 , Issue Q1

Discussion Paper
Remittances and COVID-19: A Tale of Two Countries

Looking at the effects of the COVID-19 pandemic on workers' remittances flowing from the United States, this article focuses on the experiences of two countries, El Salvador and Mexico, which account for approximately 30 percent of all immigrants currently residing in the United States. Following the second quarter's economic lockdown, transfers to these countries experienced perplexing dynamics. Specifically, remittances to El Salvador witnessed a record 40 percent sudden drop, while Mexico recorded an unexpected 35 percent increase. We discuss some of the narratives proposed to explain this ...
Policy Hub , Paper 2020-12

Working Paper
Monetary Policy Options at the Effective Lower Bound : Assessing the Federal Reserve's Current Policy Toolkit

We simulate the FRB/US model and a number of statistical models to quantify some of the risks stemming from the effective lower bound (ELB) on the federal funds rate and to assess the efficacy of adjustments to the federal funds rate target, balance sheet policies, and forward guidance to provide monetary policy accommodation in the event of a recession. Over the next decade, our simulations imply a roughly 20 to 50 percent probability that the federal funds rate will be constrained by the ELB at some point. We also find that forward guidance and balance sheet polices of the kinds used in ...
Finance and Economics Discussion Series , Paper 2019-003


FILTER BY Content Type

FILTER BY Jel Classification

F41 2 items

C11 1 items

C13 1 items

E31 1 items

E32 1 items

E52 1 items

show more (4)