I have observed and appreciated Olivier Blanchard’s intellectual journey over the last decade. It began in August 2008, with what must be regarded as one of the worst-timed papers in the history of ...

This paper discusses the importance of asset markets and financial flows in general equilibrium models. Asset markets and financial flows play an important role in the adjustment process to economic ...

This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper proposes a network model of multilaterally equilibrium exchange rates. The model introduces a topological ...

In 1950, John Nash — the mathematician later featured in the book and film “A Beautiful Mind” — wrote a two-page paper that transformed the theory of economics. His crucial, yet utterly simple, idea ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...