HIGHLIGHTS
- who: Jel codes F and collaborators from the (UNIVERSITY) have published the paper: ADEMU WORKING PAPER SERIES, in the Journal: (JOURNAL)
- what: Building on the framework of Eggertsson et_al the authors show that the transition to full employment and at-target inflation requires real and nominal depreciation of the exchange rate. The authors show that as long as the economy remains financially open domestic asset supply policies or reducing the effective lower bound on policy rates may be inffective or even counterproductive.
SUMMARY
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