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Author: Bianca De Paoli
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This paper studies the policy implications of habits and cyclical changes in agents' appetite for risk-taking. To do so, it analyses the non-linear solution of a New Keynesian (NK) model, in which slow-moving habits help...Read more...
Bianca De Paoli and Pawel Zabczyk
19 October 2012
This paper analyzes the conduct of monetary policy in an environment in which cyclical swings in risk appetite affect households' propensity to save. It uses a New-Keynesian model featuring external habit formation to sh...Read more...
2 March 2012
Using an endogenous portfolio choice model, this paper examines how different monetary policy regimes can lead to different foreign currency positions by changing the cyclical properties of the nominal exchange rate. We ...Read more...
Bianca De Paoli, Hande Kucuk-Tuger and Jens S?ndergaard
November 2010
Can the structure of asset markets change the way monetary policy should be conducted? Following a linear-quadratic approach, the present paper addresses this question in a New Keynesian small open economy framework. Our...Read more...
Bianca De Paoli
April 2009
This paper analyses the international dimension of fiscal policy using a small open economy framework in which the government finances its spending by levying distortionary taxation and issuing non-state-contingent debt....Read more...
Gianluca Benigno and Bianca De Paoli
January 2009
This paper characterizes welfare in a small open economy and derives the corresponding optimal monetary policy rule. It shows that the utility-based loss function for a small open economy is a quadratic expression in dom...Read more...
May 2004