-Blinder-Oaxaca decomposition to explore a response's heterogeneity over time and over states of the economy. This can be implemented with a simple …

conditions in the economy. Using the IMF fiscal consolidations dataset for identification and a new decomposition-based approach …

Is the effect of monetary policy on the productive capacity of the economy long lived? Yes, in fact we find such …

order to stabilize the real economy. A modified Taylor curve, the forecast Taylor curve, showing the tradeoff between the … achieved an efficient stabilization of both inflation and the real economy and what relative weight on the stability of … inflation and the real economy has effectively been applied. Ex ante evaluation may be more relevant than evaluation ex post …

-offs, according to whether: (1) the economy is operating above or below potential; (2) inflation is low, thereby bringing nominal …