Parcourir Faculté des arts et des sciences – Département de sciences économiques - Travaux et publications par sujet "Aggregate demand externality"
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Monetary policy in sudden stop-prone economies
(Université de Montréal. Département de sciences économiques., 2018-06)In a model featuring sudden stops and pecuniary externalities, I show that the ability to use capital controls has radical implications for the conduct of monetary policy. Absent capital controls, following an inflation targeting regime is nearly ...