We show, in a monetary exchange economy, that asset prices in a complete markets general equilibrium are a function of the supply of liquidity by the Central Bank, through its effect on default and interest rates. Two agents trade goods and nominal assets to smooth consumption across periods and...

[fre] Cet article estime le pouvoir des stabilisateurs automatiques à l’aide du modèle français MESANGE. Après un choc de demande, l’atténuation de l’activité est modérée la première année (environ 10 %) mais plus conséquente la deuxième année (20 %). La TVA, les impôts sur...

While progress has been made in increasing female labor force participation (FLFP) in the last 20 years, large gaps remain. The latest Fund research shows that improving gender diversity can result in larger economic gains than previously thought. Indeed, gender diversity brings benefits all its...