How does informality in emerging economies affect the conduct of monetary and
fiscal policy? To answer this question two-sector, formal-informal new
Keynesian closed-economy is constructed. The inf...
On 02 Dec 2011 This paper reviews the literature on the informal economy, focusing first on empirical
findings and then on existing approaches to modelling informality within both
partial and general equilibrium e...
On 24 Nov 2011 In this paper the authors first develop a two-bloc model of an emerging open economy interacting with
the rest of the world calibrated using Indian and US data. The model features a
fina...
On 11 May 2011 |