May 2011
Author(s): Matsumoto, Akito; Cova, Pietro; Pisani, Massimiliano; Rebucci, Alessandro
This paper studies equity price volatility in general equilibrium with news shocks about future productivity and monetary policy. As West (1998) shows, in a partial equilibrium present discounted…
Dec 2010
Author(s): Marcel, Mario; Tapia Troncoso, Waldo
Los efectos de la reciente crisis financiera internacional en los fondos de pensiones de América Latina muestran que ésta no solo ha afectado su rentabilidad sino que también la densidad de las…
Oct 2010
Author(s): Cova, Pietro; Pisani, Massimiliano; Rebucci, Alessandro
This paper analyzes the macroeconomic impact of Chinas 2009-2010 fiscal stimulus package by simulating a dynamic general equilibrium multi-country model of the world economy, showing that the effects…