Thuy Lan Nguyen

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Government Spending Multipliers Under the Zero Lower Bound: Evidence from Japan

Staff Working Paper 2017-40 Wataru Miyamoto, Thuy Lan Nguyen, Dmitriy Sergeyev
Using a rich data set on government spending forecasts in Japan, we provide new evidence on the effects of unexpected changes in government spending when the nominal interest rate is near the zero lower bound (ZLB).
Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Fiscal Policy JEL Code(s): E, E3, E32, E5, E6, E62

Understanding the Cross‐Country Effects of US Technology Shocks

Staff Working Paper 2017-23 Wataru Miyamoto, Thuy Lan Nguyen
Business cycles are substantially correlated across countries. Yet most existing models are not able to generate substantial transmission through international trade. We show that the nature of such transmission depends fundamentally on the features determining the responsiveness of labor supply and labor demand to international relative prices.

Business Cycles in Small, Open Economies: Evidence from Panel Data Between 1900 and 2013

Staff Working Paper 2016-48 Wataru Miyamoto, Thuy Lan Nguyen
Using a novel data set for 17 countries dating from 1900 to 2013, we characterize business cycles in both small developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model jointly for these 17 countries using Bayesian methods.

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