This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, macroprudential policy, and capital flow management. This policy analysis is based on ...

As climate change intensifies, the frequency and severity of climate-induced disasters are expected to escalate. We develop a New Keynesian Dynamic Stochastic General Equilibrium model to analyze the ...

Stochastic dynamics of Markov processes examines how systems evolve in time when their transitions between states are governed by probabilistic rules. At its core lies the Markov property, which ...