Tesis
Macroeconomic stabilization and monetary policy in small open economies
Autor
Kawamura, Enrique
Institución
Resumen
In this paper I analyze the role of monetary policy in nominal stabilization in small
open economies. In particular, I focus on studying the underlying forces that explained
the nominal stabilization several emerging countries exhibited in the second half of the
1990s and the early 2000s. In order to do so, I first estimate several empirical models
using both rolling sample windows and also allowing for time-varying parameters. Secondly,
I interpret the empirical findings estimating a New Keynesian DSGE model with
drifting coe cients and stochastic volatilities.