Browsing by Author "Maćkowiak, Bartosz"

Now showing items 1-5 of 5

2006-04-05Buch

External Shocks, U.S. Monetary Policy and Macroeconomic Fluctuations in Emerging Markets

Maćkowiak, Bartosz

Using structural VARs, I find that external shocks are an important source of macroeconomic fluctuations in emerging markets. Furthermore, U.S. monetary policy shocks affect quickly and strongly interest rates and the ...
2005-12-15Buch

How much of the Macroeconomic Variation in Eastern Europe is Attributable to External Shocks?

Maćkowiak, Bartosz

We decompose by origin the sources of the variation in real aggregate output and aggregate price level in the Czech Republic, Hungary and Poland. We find that a sizable fraction of the variation is attributable to external ...
2006-04-05Buch

Macroeconomic Regime Switches and Speculative Attacks

Maćkowiak, Bartosz

This paper explains a currency crisis as an outcome of a switch in how monetary policy and fiscal policy are coordinated. The paper develops a model of an open economy in which monetary policy starts active, fiscal policy ...
2005-08-04Buch

Optimal Sticky Prices under Rational Inattention

Maćkowiak, Bartosz; Wiederholt, Mirko

In the data, individual prices change frequently and by large amounts. In standard sticky price models, frequent and large price changes imply a fast response of the aggregate price level to nominal shocks. This paper ...
2005-12-15Buch

What does the Bank of Japan do to East Asia?

Maćkowiak, Bartosz

In recent policy debates some have argued that expansionary monetary policy in Japan can increase real output in Japan and in Japan´s neighbors, while others have warned that it is a beggar-thy-neighbor policy. In this ...