[PDF] Top 20 New Open Economy Macroeconomics

... a new theoretical framework for open economy analysis and policy design, overcoming the limitations of the Mundell–Fleming model, while preserving the empirical wisdom and the close connection to ... See full document

... An obvious example of this unbalance can be found in the development of the New Open Economy Macroeconomics (NOEM) literature. 2 In surveying this ¯eld of research Lane (2001, p. 236), makes a ... See full document

... “The New Open Economy Macroeconomics” ...the new open economy macroeconomics ...small open economy model of Mundell-Fleming- ...small open ... See full document

... an open- economy context, there is a trade-o¤ between stabilizing markups of local …rms selling in the domestic market and markups of foreign exporters also selling in the ... See full document

... This paper advances the New Open Economy Macroeconomic literature in an empirical direction, esti- mating and testing a two-country model. Fit to U.S. and G7 data, the model performs moderately well ... See full document

... Columns report the median coefficient across all 94 products and the number of significantly positive (at 5%) and significantly negative coefficients. Bilateral distance[r] ... See full document

... Unlike the Redux model, a permanent monetary shock does not generate a current account imbalance in this setup. Since traded output is taken to be fixed, current account behavior is determined by the time path for ... See full document

... remains open. Need we only more empirical research? Need we new econometric methodologies? Or need we also to update money demand theory? In our view, developments during the last twenty years in ... See full document

... Much of the recent literature on monetary policy uses the New Keynesian Phillips curve (NKPC) to describe the aggregate supply block of the economy. Many authors, however, have criticized the NKPC on the ... See full document

... the economy would broaden and deepen markets in provincial economies and empower market- based social ...the open economy appears to have reinforced the salience of the local ...the open ... See full document

... closed economy: households and firms were not able to trade in goods or financial assets with agents located in other ...an open economy extension of the basic New Keynesian model analyzed in ... See full document

... The model based on efficient market, considered by many as a purely theoretical assumption (see Campbell et al., 1997), has had an enormous influence on finan- cial studies of assets valuation, including exchange rate ... See full document

... The dairy industry ranks third in food exports, representing 15% of total exports in 1993 and around 7% nowadays. Powdered milk is the main export product of this sector, growing steadily throughout the studied period. ... See full document

... an economy may not be fixed by the world interest rate: capital may not be perfectly ...small economy if capital does not flow freely into and out of the ... See full document

... the new economy is their ability to ...old economy firm where translating the innovation into a full value chain was more important than the idea ...remains open issues, but there is no doubt ... See full document

... deviations are not far from the standard deviation of credit spreads implied from historic data on figure 2, which is 1.1384e-3. The sample period se- lected for the estimation was chosen to reflect a monetary policy ... See full document

... small open economy ...the economy are some- times treated without explicitly modeling the behavior of central players like ...in macroeconomics (See for example Gertler (1988) and Freixas and ... See full document

... incipient deficit in the BoP means the exchange rate is depreciating (there are unwanted dollars on the foreign exchange market). As the exchange rate depreciates (e increases), Net Exports increase because the relative ... See full document

... a New Keynesian model with search frictions, endogenous participation and workers' heterogeneity to explain the empirical ...the economy is populated by insiders and outsiders facing dierent matching ... See full document

... an open economy with fixed exchange ...the economy. For instance, as more loans are being demanded by firms, new banking deposits are being ...the open economy case underlined by ... See full document