A key issue in current research and policy is the size of fiscal multipliers when the economy is in recession. We provide three insights. First, using regime-switching models, we find large difference
ABSTRACT The objective of this article is to analyze the implications of Bresser-Nakano hypothesis, that risk-premium is positive related to domestic rate of interest, over time paths of nominal inter
In this paper I analyze whether restrictions to capital mobility reduce vulnerability to external shocks. More specifically, I ask if countries that restrict the free flow of international capital hav
This data is mainly used to analyze the risk correlation among economic uncertainty, geopolitical risk and energy price, and can also be applied to the TVP-VAR model to analyze the correlation between