Endogenous and exogenous are economic terms to describe internal and external factors respectively affecting business production, efficiency, growth and profitability. You are not able to control all ...

This article studies optimal monetary policy when decision-makers in firms choose how much attention they devote to aggregate conditions. When the amount of attention that decision-makers in firms ...

The nature of monetary arrangements is often discussed without any reference to its detailed construction. We present a graphic representation that allows for a clear understanding of modern monetary ...

An economic shock, also known as a macroeconomic shock, is any unexpected event that has a large-scale, unexpected impact on the economy. Many, but not all, economists also say that a shock has to be ...