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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

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

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

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 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

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

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

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

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

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

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

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

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

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

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

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

Financial conditions and capital investment choices

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

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

Modeling credit demand and supply of firms and households in Albania

Shijak, Gerti - 2026

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

Foreign exchange intervention and financial stability

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

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

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

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

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

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

How small is small? : non-linearities in heterogeneous agent models

Bianchi, Javier; Kaplan, Greg - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016074462

Financial repression in a small open economy : the case of Laos

Kitano, Shigeto; Takaku, Kenya - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016074190

Trade scope and concentration after 2020 : evidence from a small open economy

Logožar, Klavdij - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016083090

Global financial cycles, portfolio frictions, and bank profitability : evidence from small open economies

Jakubík, Petr; Kořínek, Matěj; Teleu, Saida - 2026

This paper examines how global financial conditions shape bank profitability in small, open, and externally dependent economies. Using bank-level data for Caribbean and Central American countries and System GMM estimation, we assess the impact of U.S. long-term interest rates on two...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016085807

Government spending dynamics in small open economies

Coulombe, Raphaelle G.; Horvath, Jaroslav - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015580057

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

Liquidity-Driven Growth Cycles in Small Open Economies

Benhabib, Jess; Dong, Feng; Wang, Pengfei; Xu, Zhenyang - 2026

While standard sudden-stop models explain well the sharpness of financial crises, it remains challenging to account for the persistent growth stagnation that typically follows credit-driven capital account liberalizations in emerging markets. This paper presents a small open economy model with...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015639357

Impact of climate change on South Africa : evidence from a DSGE model

Bejarano, Jesús Antonio; Gupta, Rangan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015574911

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

Foreign exchange interventions and foreign shocks

Bucacos Iguini, Elizabeth; García-Cicco, J.; Mello, M. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015559924

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

Shocks and exchange rates in small open economies

Cormun, Vito; De Leo, Pierre - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676272

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

Natural interest rate in Korea : a multi-model approach in a small open economy context

Do, Kyeongtak; Ahn, Ju Hyun; Jung, Haeri - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016064559

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

Climate actions, public investment and inflationary effects in a small open economy

Traficante, Guido - 2025 - This version: February 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015334661

Deflationary equilibrium with uncertainty

Coyle, Philip; Maezono, Naoki; Nakata, Taisuke; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015620483

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Deflationary equilibrium with uncertainty

Coyle, Philip; Maezono, Naoki; Nakata, Taisuke; … - 2025

Book / Working Paper

A DSGE model for a small open economy with a CBDC Option

Kumhof, Michael; Mikou, Mohammed; Slaoui, Yassine - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016062601

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

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

Origins of post-COVID-19 inflation in Central European countries

Šestořád, Tomáš; Dvořáková, Natálie - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016082196

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Origins of post-COVID-19 inflation in Central European countries

Šestořád, Tomáš; Dvořáková, Natálie - 2024

Book / Working Paper