Welfare and Macroeconomic Interdependence

By Giancarlo Corsetti, Paolo A. Pesenti. 2001

833 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/1a7d23d9e3b36ecc0d59544352b5047018a35a21

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Citations in the corpus

Terms of trade and exchange rate regimes in developing countries (2004, neutral): “…(1982); see Dornbusch (1980) for direct descendants of the open economy Mundell–Fleming models with sticky prices; see Obstfeld and Rogoff (1996) and Corsetti and Pesenti (2001) for dynamic general equilibrium models with nominal stickiness). of theories is that the short run response to real…”
International Channels of Transmission of Monetary Policy and the Mundellian Trilemma (2015, neutral): “As noted by Obstfeld and Rogoff (2000, 2002), Corsetti and Pesenti (2001) and Benigno and Benigno (2003), the optimal monetary policy trades off the stabilization of the output gap and the strengthening of the terms of trade.”
Optimal Monetary and Fiscal Policy in a Currency Union (2005, background): “As a result, their policy decisions, taken in isolation, are likely to have very little impact 1See, among others, Obstfeld and Rogoff (1995), Corsetti and Pesenti (2001), Benigno and Benigno (2003), Bacchetta and van Wincoop (2000), Devereux and Engle (2003), Pappa (2003), Kollmann (2001), Chari ,…”
The extensive margin and monetary policy (2008, background): “0 Tt(j)dj = Mt − Mt−1 + Tt =0 ( 13 ) and in equilibrium money supply equals demand, or Mt = R L”
Do the ECB and the Fed really need to cooperate? Optimal monetary policy in a two-country world (2004, methodology): “Corsetti and Pesenti (2001b) illustrated the same point for a general equilibrium sticky price model with consumer currency pricing and complete exchange rate pass through.”
Fiscal Policy, the Real Exchange Rate and Traded Goods (2010, neutral): “Also, from (12) and (14), ~ed 1⁄4 ed ð~ b bÞuy and, from (16), cov(~ed , eyÞ 1⁄4 ð~ b bÞr2ey=ð1 bcÞ 2 < 0: 12 See, among many others, Corsetti and Pesenti (2001), Devereux and Engel (2003), Galı́ and Monacelli (2005). We emphasise that our results do not hinge crucially on the assumption of a small ”
German economic performance: disentangling the role of supply-side reforms, macroeconomic policy and coordinated economy institutions (2008, background): “…mechanism is described in Carlin and Soskice (1990, 2006) and Layard et al. (1991) and is also found in new open economy models such as Corsetti and Pesenti (2005) and Gali and Monacelli (2005). at H um boldt-U niversitaet zu B erlin on O ctober 10, 2011 ser.oxfordjournals.org D ow…”
Monetary Theory and Policy, 2nd Edition (2003, background): “Corsetti and Presenti (2001) developed a two-country model with microeconomic foundations similar to those in the Obstfeld-Rogo¤ model but in which preferences are specified so that changes in national money supplies do not cause wealth redistributions.”
Current Account Imbalances and Real Exchange Rates in the Euro Area (2006, result): “Similar results emerge under “producer country pricing” in Corsetti and Pesenti (2001).”
Price Stability in Open Economies (2003, methodology): “ρ+η , ( 10 ) where Y n”
New Directions for Stochastic Open Economy Models (2000, background): “Obstfeld and Rogoff (1996) and Corsetti and Pesenti (1998) discuss the voluntary participation constraint in more detail.”
Macroeconomics of International Price Discrimination (2002, neutral): “[11] Corsetti, Giancarlo, and Paolo Pesenti [2001a].”
The Valuation Channel of External Adjustment (2009, neutral): “Importantly for the discussion below, since GDP is independent from government spending shocks when labor supply is inelastic, the income distribution in (20) implies that dividends would also be independent from government spending if  = 0.”