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Essays On Monetary Policy And International Macroeconomics, Elisa Vilorio Medina
Essays On Monetary Policy And International Macroeconomics, Elisa Vilorio Medina
FIU Electronic Theses and Dissertations
An understanding how external shocks affect macroeconomic variables is important
for policy implications and sound recommendations. My dissertation analyzes the
impact of exogenous shocks on inflation, exchange rate, and monetary policy in
advanced economies and emerging market economies.
The second chapter explores the extent to which the exogenous shock of the
shale oil revolution explains the missing-puzzle inflation—sluggish price inflation
in the U.S and below the Federal Reserve’s two percent inflation target following
the expansion after the Great Recession. Using a novel identification framework,
I disentangle the shocks by imposing a combination of dynamic sign restrictions,
block exogeneity, and short-run …