How important are liability dollarization in the transmission of commodity shocks on business cycles? To address this … shock, the results suggest that the presence of liability dollarization generates a greater response output, compared to the … presence of liability dollarization. However, the application of countercyclical macroprudential policies, based on Basel III …

macroeconomic fluctuations, (ii) accounting for liability dollarization ameliorates the model fit, and (iii) valuation effects on …, differentiated home and foreign goods, and endogenous exchange rate movements. Furthermore, our model incorporates liability … dollarization as a particular form of financial frictions in EMEs. In this vein, weaccount for the fact that emerging markets …

macroeconomic fluctuations, (ii) accounting for liability dollarization ameliorates the model fit, and (iii) valuation effects on …, differentiated home and foreign goods, and endogenous exchange rate movements. Furthermore, our model incorporates liability … dollarization as a particular form of financial frictions in EMEs. In this vein, we account for the fact that emerging markets …