A Core Open-Economy DSGE Model with Financial Frictions

Pierre-Richard Agénor
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Pierre-Richard Agénor: University of Manchester, School of Social Sciences

Chapter 7 in Monetary Policy and Macroprudential Regulation with Financial Frictions, 2025, pp 397-445 from Springer

Abstract: Abstract Further extends the core DSGE model with financial frictions to a small open economy setting. The model features, in particular, imperfect capital mobility, a managed float regime, and a two-level financial intermediation structure. The ability of the model to reproduce stylized facts is assessed by studying its performance in response to capital inflows induced an external financial shock, under both sterilized and unsterilized intervention.

Date: 2025
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DOI: 10.1007/978-3-032-01673-7_7

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