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Papyrus : Université de Montréal Digital Institutional Repository - Browsing by Author "RUGE-MURCIA, Francisco"

Digital Institutional Repository

Papyrus : Université de Montréal Digital Institutional Repository - Browsing by Author "RUGE-MURCIA, Francisco"

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  • RUGE-MURCIA, Francisco (2001)
    This paper studies monetary policy in an economy where the central banker's preferences are asymmetric around optimal inflation. In particular, positive deviations from the optimum can be weighted more, or less, severely ...
  • RUGE-MURCIA, Francisco (1997)
    This paper develops a model of money demand where the opportunity cost of holding money is subject to regime changes. The regimes are fully characterized by the mean and variance of inflation and are assumed to be the ...
  • CARDIA, Emanuela; KOZHAYA, Norma; RUGE-MURCIA, Francisco (1999)
    This paper examines empirically the effects of distortionary taxation on labor supply using a general equilibrium framework. The long-term relations predicted by the model are derived and tested using Canadian data between ...
  • RUGE-MURCIA, Francisco (2002)
    This paper tests the predictions of the Barro-Gordon model using US data on inflation and unemployment. To that end, it constructs a general game-theoretical model with asymmetric preferences that nests the Barro-Gordon ...
  • BOUAKEZ, Hafedh; CARDIA, Emanuela; RUGE-MURCIA, Francisco (Université de Montréal - Département de sciences économiques, 2008-08)
    Barsky, House and Kimball (2007) show that introducing durable goods into a sticky-price model leads to negative sectoral comovement of production following a monetary policy shock and, under certain conditions, to aggregate ...
  • NG, Serena; RUGE-MURCIA, Francisco (1997)
    This paper extends the Competitive Storage Model by incorporating prominent features of the production process and financial markets. A major limitation of this basic model is that it cannot successfully explain the degree ...
  • MASSON, Paul; RUGE-MURCIA, Francisco (2003)
    This paper studies the transition between exchange rate regimes using a Markov chain model with time-varying transition probabilities. The probabilities are parameterized as nonlinear functions of variables suggested by ...
  • BOUAKEZ, Hafedh; CARDIA, Emanuela; RUGE-MURCIA, Francisco (2002)
    This paper studies the persistent effects of monetary shocks on output. Previous empirical literature documents this persistence, but standard general equilibrium models with sticky prices fail to generate output responses ...
  • RUGE-MURCIA, Francisco (1997)
    This article presents a review of the stabilization attempts in Argentina, Brazil, and Israel during the 1980’s. Earlier research is summarized and complemented with additional sources of contemporaneous information and a ...
  • KIM, Jinill; RUGE-MURCIA, Francisco (Université de Montréal, Département de sciences économiques, 2007)
    This paper studies Tobin's proposition that inflation "greases" the wheels of the labor market. The analysis is carried out using a simple dynamic stochastic general equilibrium model with asymmetric wage adjustment costs. ...
  • RUGE-MURCIA, Francisco (2001)
    This paper develops and estimates a game-theoretical model of inflation targeting where the central banker's preferences are asymmetric around the targeted rate. In particular, positive deviations from the target can be ...
  • RUGE-MURCIA, Francisco (2003)
    This paper employs the one-sector Real Business Cycle model as a testing ground for four different procedures to estimate Dynamic Stochastic General Equilibrium (DSGE) models. The procedures are: 1 ) Maximum Likelihood, ...
  • RIBONI, Alessandro; RUGE-MURCIA, Francisco (Université de Montréal, Département de sciences économiques, 2008-02)
    This paper studies the theoretical and empirical implications of monetary policy making by committee under three different voting protocols. The protocols are a consensus model, where super-majority is required for a policy ...
  • KIM, Jinill; RUGE-MURCIA, Francisco (Université de Montréal, Département de sciences économiques, 2009-11)
    In a monetary economy with downwardly rigid wages, the central banker should target a low, but strictly positive, inflation rate.
  • DOLADO, J.J.; MARIA-DOLORES, R.; RUGE-MURCIA, Francisco (2003)
    This paper derives optimal monetary policy rules in setups where certainty equivalence does not hold because either central bank preferences are not quadratic, and/or the aggregate supply relation is nonlinear. Analytical ...
  • RIBONI, Alessandro; RUGE-MURCIA, Francisco (Université de Montréal, Département de sciences économiques, 2007-05)
  • RUGE-MURCIA, Francisco (2012-05)
    Statistical evidence is reported that even outside disaster periods, agents face negative consumption skewness, as well as positive inflation skewness. Quantitative implications of skewness risk for nominal loan contracts ...
  • RUGE-MURCIA, Francisco (2002)
    In an economy where cash can be stored costlessly (in nominal terms), the nominal interest rate is bounded below by zero. This paper derives the implications of this nonnegativity constraint for the term structure and ...
  • CASTRO, Rui; DE RESENDE, Carlos; RUGE-MURCIA, Francisco (2003)
    This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level. The government is characterized by a long-run fiscal policy rule whereby a given ...
  • RIBONI, Alessandro; RUGE-MURCIA, Francisco (2006)
    This paper develops a model where the value of the monetary policy instrument is selected by a heterogenous committee engaged in a dynamic voting game. Committee members differ in their institutional power and, in certain ...

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