Q1. What have the authors contributed in "Aboa centre for economics" ?
This study shows that the learning by doing ( LBD ) effect has substantial, both quantitative and qualitative, consequences for the international transmission of monetary policy.
Learning by Devaluating: A Supply-Side Effect of Competitive Devaluation
TLDR
In this article, the learning by doing (LBD) effect has substantial, both quantitative and qualitative, consequences for the international transmission of monetary policy, and it is shown that LBD increases the harmful effect of competitive devaluation on foreign output by 85-125%.Abstract:
This study shows that the learning by doing (LBD) effect has substantial, both quantitative and qualitative, consequences for the international transmission of monetary policy. LDB implies that a country can increase its productivity-increasing skill level, at the expense of the neighbor, by competitive devaluation engineered through low interest rates. If measured by the cumulative change in output after 12 quarters, LBD increases the harmful effect of competitive devaluation on foreign output by 85–125%, when compared to the case without it. If LBD is sufficiently strong and the cross-country substitutability is high (low), it reverses the effect of monetary policy on foreign (domestic) welfare into negative (positive). Moreover, a combination of a high cross-country substitutability and a sufficiently strong LDB effect implies that competitive devaluation increases both domestic output and welfare, at the expense of foreign output and welfare.read more
Figures
Table 6: Varying the Key Parameters: The Discounted Present Value of the Change in Utility When 6 
Table 7: The Percentage Change in the Cumulative Change in Output Compared to the Case Without LDB When 5.1 
Table 8: Varying the Key Parameters: Discounted Present Value of the Change in Utility When 5.1 
Table 2: Discounted Present Value of the Changes in Utility When 6 
Figure 1: Dynamic Effects of a Domestic Interest Rate Shock When 6 
Figure 4: Effects of Varying Key Parameter Values When 6
Citations
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Journal ArticleDOI
The valuation of European call options on zero-coupon bonds in the run-up to a fixed exchange-rate regime
Gerrit Reher,Bernd Wilfling +1 more
TL;DR: In this paper, the dynamics of zero-coupon bond options in a situation in which the currently floating exchange rate between two countries' currencies is announced to be fixed on a given future date are analyzed.
References
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Book
The competitive advantage of nations
TL;DR: The Need for a New Paradigm as discussed by the authors is the need for a new paradigm for the competitive advantage of companies in global industries, as well as the dynamics of national competitive advantage.
Journal ArticleDOI
Staggered prices in a utility-maximizing framework
TL;DR: In this article, the authors developed a model of staggered prices along the lines of Phelps (1978) and Taylor (1979, 1980), but utilizing an analytically more tractable price-setting technology.
Journal ArticleDOI
Discretion versus policy rules in practice
TL;DR: In this article, the authors examine how recent econometric policy evaluation research on monetary policy rules can be applied in a practical policymaking environment, and the discussion centers around a hypothetical but representative policy rule much like that advocated in recent research.