Browsing BI Open by Author "Gelain, Paolo"
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Leaning Against The Credit Cycle
Natvik, Gisle James; Gelain, Paolo; Lansing, Kevin (Journal article; Peer reviewed, 2018)How should a central bank act to stabilize the ratio of debt over gross domestic product (GDP)? We show how the persistent nature of household debt shapes the answer to this question. In environments where households repay ... -
Output gap, monetary policy trade-offs, and financial frictions
Furlanetto, Francesco; Gelain, Paolo; Taheri Sanjani, Marzie (Journal article; Peer reviewed, 2021)This paper investigates how the presence of pervasive financial frictions and large financial shocks changes the optimal monetary policy prescriptions and the estimated dynamics in a New Keynesian model. We find that ... -
Output gap, monetary policy trade-offs, and financial frictions
Furlanetto, Francesco; Gelain, Paolo; Taheri Sanjani, Marzie (Journal article; Peer reviewed, 2021)This paper investigates how the presence of pervasive financial frictions and large financial shocks changes the optimal monetary policy prescriptions and the estimated dynamics in a New Keynesian model. We find that ...