What is the optimal monetary policy response to tariffs? This paper explores this question within an open-economy New Keynesian model, characterizes the macroeconomic effects of tariffs, and shows ...
This data series is part of the Center for Monetary Research. The U.S. Monetary Policy Event-Study Database (USMPD) collects high-frequency changes of interest rates and asset prices around Federal ...
We develop a multi-country, multi-sector New Keynesian model with incomplete markets, input-output linkages, and heterogeneous sectoral price rigidities to study the macroeconomic effects of tariffs.