Search Results - subject_exact:"Kleines-Land-Modell"

The effects of oil revenue allocation between accumulation and current use on macroeconomic responses to external and internal shocks in a small oil-exporting economy

Mukhamediyev, Bulat; Khitakhunov, Azimzhan; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015620185

Labor informality and macroeconomic volatility

Ávila-Montealegre, Oscar Iván; Grajales-Olarte, Anderson - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015617558

Monetary policy and the output gap in DSGE models for small open economies : insights from the Czech Republic

Šestořád, Tomáš; Vlček, Jan; Musil, Karel - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015610401

Central Bank independence, transparency, and interaction with fiscal policy : the case of a small open economy

Trabelsi, Emna - 2026

This study examines the determinants of inflation volatility in Tunisia, focusing on central bank independence (CBI), economic transparency, and macroeconomic fundamentals. Although CBI is widely regarded as essential for monetary credibility, its effectiveness depends on its institutional...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626050

Fiscal and monetary dominance in a small open economy : a Markov-Switching VAR approach to Hungarian policy

Salimi, Sara; Tatay, Tibor; Kazinczy, Eszter; Amini, Mehran - 2026

The interplay between fiscal and monetary policy is critical for small open economies exposed to global volatility, yet the regime-dependent nature of this transmission often remains underexplored. This study investigates whether the Hungarian economy operated under fiscal or monetary dominance...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626067

Optimal Exchange Rate Policy with Oil Shocks

Aktuğ, Emrehan - 2026

We study optimal monetary and exchange rate policy in a small open economy facing oil price shocks. In a model with segmented financial markets that generate endogenous UIP deviations, the first-best allocation is achieved through a combination of interest rate policy and foreign exchange...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612750

Monetary and fiscal implications of commodity price shocks for commodityexporting small open economies

Naraidoo, Ruthira - 2026

Commodity-exporting economies, such as South Africa, are susceptible to wide fluctuations in their business cycles, closely tied to commodity price fluctuations. In this research, we develop a prototype dynamic stochastic general equilibrium (DSGE) model with specific features for emerging small...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015614249

Neutral real interest rate in an open and small economy : the case of Costa Rica

Segura-Rodriguez, Carlos - 2026

This study estimates Costa Rica's neutral real interest rate (denoted by r∗) for the period spanning from 2010 to 2023. Two different methodologies are employed for this estimation: the semi-structural model introduced by Holston, Laubach, and Williams (2023), and a structural VAR proposed by...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015643975

Measuring natural interest rate in Morocco

Lazzarou, Chaimae - 2026

This paper estimates Morocco's natural interest rate (NIR) using two approaches: a standard HLW-type framework and an augmented specification that incorporates external factors, namely imported inflation, and movements in the real effective exchange rate. The results point to a downward trend in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015592494

EU vs. China : battle for trade and investments within a small open economy

Bugarčić, Filip Ž.; Filipović, Sanja; Zakić, Katarina - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015644475

Estimating the natural real interest rate in Lithuania : a semi-structural approach

Budrys, Žymantas; Krotovaitė, Giedrė - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015589892

Macroeconomic aspects of unemployment benefits : evaluating the Danish policy

Thomsen, Simon Fløj; Raza, Hamid; Byrialsen, Mikael Randrup - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653005

Foreign exchange intervention and financial stability

Agénor, Pierre-Richard; Jackson, Timothy P.; Silva, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015574482

Macroeconomic responses to productivity and global demand shocks : a comparative analysis of developing and developed economies

Ahmed, Waqas; Rehman, Muhammad; Sheraz, Sahar - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015579647

U.S .- Korea yield synchronization and its implications for monetary policy transmission

Kim, Jihyun; Kim, Somin; Kwak, Boreum - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605080

Fiscal and monetary dominance in the Visegrad Group : evidence from regime heterogeneity

Salimi, Sara; Tatay, Tibor; Kazinczy, Eszter; Amini, Mehran - 2026

Although coordinating fiscal and monetary policy is essential for stabilizing small and globally exposed economies, researchers frequently oversimplify by treating the Visegrad Group (V4) as a uniform entity. This study investigates whether the Czech Republic, Hungary, Poland, and Slovakia are...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676746

Sectoral and aggregate effects of supply chain disruptions in a small open economy

Friesenbichler, Klaus S.; Glocker, Christian; Hölzl, Werner - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672770

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Sectoral and aggregate effects of supply chain disruptions in a small open economy

Friesenbichler, Klaus S.; Glocker, Christian; Hölzl, Werner - 2026

Book / Working Paper

Global risk shocks in a small open economy and their impact on monetary policy surprises

Michelsen, Juan - 2026

This paper studies the macroeconomic effects of global risk shocks (GRS) in a small open economy and their implications for the identification of monetary policy shocks. I construct a novel proxy for GRS based on unexpected daily innovations in the VIX and employ it as an external instrument in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015606798

Projecting inflation tail risks in a small open economy : some evidence from Singapore

Chow, Hwee-kwan; Lee, Jordan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015624528

IT and urban polarization

Eeckhout, Jan; Hedtrich, Christoph; Pinheiro, Roberto - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676114

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IT and Urban Polarization

Eeckhout, Jan; Hedtrich, Christoph; Pinheiro, Roberto - 2021

Book / Working Paper

International spillovers from Euro Area monetary policy to advanced small open economies: investment behavior of Czech firms

Audzei, Volha; Franta, Michal - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625661

Comparative analysis of factors affecting government debt using the examples of Slovenia and Armenia

Babikyan, Arpine; Oplotnik, Žan - 2026

This paper examines the macroeconomic determinants of government debt in two small open economies with distinct institutional frameworks-Armenia and Slovenia. The analysis focuses on key fiscal variables (budget balance and GDP growth) and monetary factors (inflation and interest rates). Using...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676498

The consolidation of the Danish corporate elite : corporate elite factions in a small open economy

Grosen, Majsa Stina - 2026 - First edition

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015639980

Monetary policy adjustments in Mexico during COVID-19 : fear of floating and macroeconomic volatility

López-Mares, Jesús Eduardo; Ocegueda Hernández, Juan … - 2025

The aim of this paper is to investigate how the central bank of Mexico - a prototypical emerging market economy (EME) - adjusted its reaction coefficients according to an estimated Taylor-type rule in response to the COVID-19 pandemic and the posterior surge in inflation. To do so, we estimate a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015338857

Oil price shocks and economic growth in oil exporting countries : a case study of a small open economy

Fadare, Samuel O.; Oladipo, Olajide; Agama, Emomotimi - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015416450

Optimal default in a small open economy : Senegal's hidden debt crisis

Coulibaly, Louphou; Ndiaye, Abdoulaye - 2026

Hidden public liabilities can reprice sovereign risk abruptly upon revelation. We study optimal default following such a revelation in a quantitative sovereign default model and apply the framework to Senegal's 2024 debt audit, which revised government debt upward by 50 percentage points of GDP....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651315

Commodity price shocks and business cycles in a resource-rich economy

Gundersen, Thomas Størdal; Quaghebeur, Ewoud; … - 2026

Commodity price shocks can be a key driver of business cycles in resource-rich small open economies. We assess their importance for the Norwegian economy by estimating a structural VAR model and measuring the contribution of oil price shocks to fluctuations in economic activity. Focusing on the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015652668

The drivers of inflation in Korea : insights from a small open DSGE model

Kim, Kyunghun - 2025

This study analyzes the drivers of inflation in South Korea using a Dynamic Stochastic General Equilibrium (DSGE) model tailored to the characteristics of Korea as a small open economy. Employing quarterly data from 1999Q2 to 2023Q2, Bayesian estimation is used to estimate Korea-specific...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015418135

Financial conditions and capital investment choices

Jordà, Òscar; Nechio, Fernanda; Phan, Toan; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015636723

Are nightlight data a relevant proxy for economic activity in small island developing states?

Fontaine, Idriss; Hermet, François; Lucic, Nicolas - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015466977

The effects of climate change on a small and open economy : economic and monetary perspectives

Bejarano, Jesús Antonio; Rodriguez-Novoa, Daniela - 2025

This policy note analyses the impacts of climate change on a small and open economy, emphasizing its effect on monetary policy. We use a New-Keynesian model to evaluate short- and long-term effects of transition climate change shocks - a permanent and anticipated shock to total factor...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015449295

Modeling credit demand and supply of firms and households in Albania

Shijak, Gerti - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015637410

US credit spillovers to small open economies : a proxy-VAR approach

Chang, Shian; Arai, Natsuki - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015407440

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Us Credit Spillovers to Small Open Economies : A Proxy-Var Approach

Chang, Shian; Arai, Natsuki - 2022

Book / Working Paper

The transmission of foreign shocks in a networked economy

Aguilar, Pablo; Domínguez Díaz, Rubén; Gallegos, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015669746

Inflation dynamics under global supply chain disruptions in a small open economy : the role of trade vulnerability, shock volatility, and monetary policy stance

Setiastuti, Sekar Utami - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672884

Structural exchange rate modeling : the case of a small open economy

Kuzmin, Anton - 2025

A new mathematical structural model of the exchange rate and a new nonlinear multifactorial dependence of the exchange rate dynamics on a wide system of fundamental economic factors are the main results of the work. The model includes a wide system of economic factors based on the balance of...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015409015

More or less openness? : the credit cycle, housing, and policy

Farias, Maria Elisa; Godoy, David R. - 2025

Housing prices have recently risen sharply in many countries, primarily linked to the global credit cycle. Although various factors play a role, the ability of developing countries to navigate this cycle and maintain autonomous monetary policies is crucial. This paper introduces a dynamic...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015441002

Monetary policy in open economies with production networks

Qui, Zhesheng; Wang, Yicheng; Xu, Le; Zanetti, Francesco - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015168376

Temporary migration, indeterminacy and growth

Parello, Carmelo Pierpaolo - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015441008

Frequency and severity of current account reversals : an analysis with a rational expectations regime switching DSGE model

Hamano, Masashige; Murakami, Yuki - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015323637

Windfalls for all? : international elasticities and Dutch disease in a commodity exporting economy

Stern, Mauricio - 2025

This paper analyzes the effect of commodity price fluctuations on a commodity-exporting economy. Using Chilean and international copper market data, I find that positive copper price changes resulting from copper-specific demand shocks generate a broad GDP expansion, with no visible decline in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015371663

Central bank digital currency in small open economies

Fan, Rong; Walker, Todd B.; Wright, Allan - 2025

This paper examines how the introduction of Central Bank Digital Currency (CBDC) impacts small open economies (SOE). We build a Two-Agent New Keynesian (TANK) model with financially constrained agents, where both cash and CBDC provide liquidity service. CBDC lowers the cost of carrying liquid...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015441541

Identifying monetary policy shocks through external constraints

Fusari, Francesco - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015444004

Unconventional monetary policies in small open economies

Kolasa, Marcin; Laséen, Stefan; Lindé, Jesper - 2025

This paper provides a comprehensive assessment of the macroeconomic and fiscal impact of unconventional monetary tools in small open economies. Using a DSGE model, we show that the exchange rate plays a critical role to amplify the favourable impact of unconventional monetary policy while it...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015372063

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Unconventional monetary policies in small open economies

Kolasa, Marcin; Laséen, Stefan; Lindé, Jesper - 2025

Book / Working Paper

Does FX hedge mitigate the impact of exchange rate changes on credit risk? : evidence from a small open economy

Skufi, Lorena; Gersl, Adam - 2025

This study investigates the impact of exchange rate fluctuations on non-performing loans (NPLs), using a unique bank-by-bank dataset on lending to FX hedged and FX unhedged borrowers. Employing fixed effects and panel quantile regression, we analyze how changes in exchange rate affect the NPL...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015272046

The impact of deglobalisation and protectionism on a small open economy - the case of Ireland

Egan, Paul; Roche, Fionn - 2025

The decline in international trade following the financial crisis suggests a shift in globalisation and a transformation of the in- ternational economic order. Protectionist trade policies have gained prominence as certain major economies increasingly im- plement tariffs to safeguard domestic...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015563929

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The impact of deglobalisation and protectionism on a small open economy : the case of Ireland

Egan, Paul; Roche, Fionn - 2025

Book / Working Paper

A change in volatility or asymmetry? : a monetary transmission mechanism in small open European economies during the financial crisis

Włodarczyk, Przemysław - 2025

The article analyses the influence of crisis-induced changes in economic activity on the monetary transmission mechanism in the small open economies of Czechia, Hungary, Poland, and Sweden from 2000: 1 to 2016: 5 using the Markov Switching Structural Bayesian Vector Autoregressive models. The...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609627