Aug 2014
Author(s): Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, Alessandro
The 2007-2008 global financial crisis and the subsequent anemic recovery have rekindled academic interest in quantifying the impact of uncertainty on macroeconomic dynamics. This paper studies the…
Feb 2013
Author(s): Cesa-Bianchi, Ambrogio; Rebucci, Alessandro
This paper develops a model featuring both a macroeconomic and a financial stability objective that speaks to the interaction between monetary and macroprudential policies. First, we find that…
Feb 2012
Author(s): Rebucci, Alessandro; Powell, Andrew; Caballero, Julián; Fernández Martín, Andrés; Fernández-Arias, Eduardo
This report details the divergent paths that the world economy may take and their potential effects on Latin America and the Caribbean. Scenarios are constructed employing a modeling exercise that…
Feb 2012
Author(s): Rebucci, Alessandro; Powell, Andrew; Caballero, Julián; Fernández Martín, Andrés; Fernández-Arias, Eduardo
Este informe detalla las diversas trayectorias que podría tomar la economía mundial y los efectos potenciales sobre América Latina y el Caribe. Se construyen escenarios siguiendo un ejercicio de…
Aug 2011
Author(s): Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, Alessandro; Xu, TengTeng
This paper investigates how changes in trade linkages between China, Latin America, and the rest of the world have altered the transmission of international business cycles to Latin America.…
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…
Feb 2011
Author(s): Benigno, Gianluca; Chen, Huigang; Otrok, Christopher; Rebucci, Alessandro; Young, Eric R.
Stochastic general equilibrium models of small open economies with occasionally binding financial frictions are capable of mimicking both the business cycles and the crisis events associated with the…
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…
Jun 2009
Author(s): Fernández-Arias, Eduardo; Powell, Andrew; Rebucci, Alessandro
The paper reviews the case for a strong multilateral response to the global crisis in emerging markets (EMs). It discusses modalities and feasibility of intervention and its associated risks,…
Mar 2009
Author(s): Catão, Luis; Cavallo, Eduardo A.; Fernández-Arias, Eduardo; Galindo, Arturo; Ottonello, Pablo; Pérez, Diego; Rebucci, Alessandro
This report focuses on the region's macroeconomic performance in the context of an unusually sharp and rapid deterioration in external conditions. To assess policy options, the report develops…
Mar 2009
Author(s): Catão, Luis; Cavallo, Eduardo A.; Fernández-Arias, Eduardo; Galindo, Arturo; Ottonello, Pablo; Pérez, Diego; Rebucci, Alessandro
Este informe se concentra en el desempeño macroeconómico de la región en el contexto de un deterioro desusadamente marcado y brusco de las condiciones externas. Con el objeto de evaluar las opciones…