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 …

capital account regimes, and to allow the effects of a policy regime on growth to depend on whether the economy is in a crisis …-prone latent state. In practice, we model and estimate the latent state of the economy as a crisis probability. In the framework we …

-inflation economy. Do one-time inflationary shocks give rise to long-term persistence, or inertia? Do balance of payments' shocks …

. We demonstrate how in a political-economy framework the shaken cofidence leads to the downsizing of the social security …

In recent years the world economy has been subject to large and unsyncronized changes in fiscal policies, high and … builds on a two-country model of the world economy which is applied to the analysis of the transmission and effects of …

) competing countries that cannot exercise significant market power in the world economy when setting tax rates, (2) competing …