Emine Boz

TL;DR: Gopinath et al. as mentioned in this paper proposed a "dominant currency paradigm" with three key features: dominant currency pricing, pricing complementarities, and imported inputs in production, and test this paradigm using a new dataset of bilateral price and volume indices for more than 2,500 country pairs that covers 91 percent of world trade.

TL;DR: This article showed that a boom-bust cycle in debt, asset prices and consumption characterizes the equilibrium dynamics of a model with a collateral constraint in which agents learn "by observation" the true riskiness of a new financial environment.

TL;DR: In this paper, an equilibrium business cycle model in which agents learn to distinguish between the permanent and transitory components of total factor productivity shocks using the Kalman filter accounts for these features. And the model accounts for the behavior of consumption and the trade balance for a wide range of variability and persistence of permanent shocks relative to transitory shocks.

TL;DR: In this article, the authors show that a model with a collateral constraint in which learning about the risk of a new financial environment interacts with Fisherian amplification produces a boom-bust cycle in debt, asset prices and consumption.

TL;DR: In this article, a small open economy model with search-matching frictions and countercyclical interest rate shocks is proposed to account for the variability of consumption and real wages relative to output in emerging economies.