Structural Analysis of Business Cycles in the Open Economy, 9-10 December, 2005
Workshop, Sveriges Riksbank
The aim of the workshop is to bring together the latest advances in theoretical and empirical analysis of business cycles from researchers in both academia and central banks. A number of the contributed papers discuss real exchange rate dynamics in a structural context, and looks further into the issue of incomplete exchange rate passthrough. What mechanisms are important to include in our structural models to explain the data, and how are shocks propagated in open economies? Another set of papers address how optimal monetary and fiscal policy is conducted, from the perspective of a small open economy as well as within a currency union. What is the stabilizing role for fiscal policy and to what extent should monetary and fiscal policy be interacted? Lastly, a number of papers study current account rebalancing and international asset portfolios using different structural dynamic stochastic general equilibrium models. Which are the key driving forces behind the current account and macroeconomic imbalances?
The workshop is organized by Malin Adolfson, Tor Jacobson, Magnus Jonsson, Jesper Lindé, Research Department.