We examine whether food price shocks are a major source of macroeconomic fluctuations.
We estimate a small open economy DSGE model using an alternative Taylor rule applied to …

A large literature estimates the exchange rate pass-through to prices (ERPT) using reduced-
form approaches, whose results are an important input for Central Banks. We show two …

Abstract The Extended Model for Analysis and Simulations (Xmas) is the Central Bank of
Chile's newest dynamic stochastic general equilibrium (DSGE) model. Designed for …

This paper studies the impact of a minimum wage policy in a labor market with a private and
a public sector. We develop a two-sector search and matching model with minimum wage …

We analyse the transmission mechanism of commodity price shocks in inflation targeting
emerging economies. Using a panel vector autoregression, we find that for a commodity …

We use a decade of online job ads to get robust estimates for real wage cyclicality,
controlling for job title and firm fixed effects as well as hiring standards, ie posted …

The study develops a standard New Keynesian model to examine how monetary authority
reacts to both domestic and external shocks as well as how its policy decision impacts the …

An immigration shock has an ambiguous effect on inflation. On one hand, aggregate
consumption increases with a suddenly larger population; this “demand channel” creates …

The study develops a standard representative-agents' New Keynesian model for
macroeconomic analysis in a developing African economy. Using Bayesian estimation …

The role of monetary policy in macroeconomic stabilization remains an important research
focus for central banks, particularly in frontier and developing economies where the …