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Christiano, Lawrence J. (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001676634

Christiano, Lawrence J.; Gust, Christopher; Roldos, Jorge E. - 2021

What are the economic effects of an interest rate cut when an economy is in the midst of a financial crisis? Under what … ffects? We answer these questions in a general class of open economy models, where a financial crisis is modeled as a time … the traded good sector and in adjusting the rate at which that output can be used in other parts of the economy, then a …

Persistent link: https://www.econbiz.de/10013248087

Government Policy, Credit Markets and Economic Activity

Christiano, Lawrence J. - 2011

The US government has recently conducted large scale purchases of assets and implemented policies that reduced the cost of funds to financial institutions. Arguably these policies have helped to correct credit market dysfunctions, allowing interest rate spreads to shrink and output to begin a...

Persistent link: https://www.econbiz.de/10013123690

Firm-specific capital, nominal rigidities and the business cycle

Altig, David; Christiano, Lawrence J.; Eichenbaum, Martin S. - 2004

Macroeconomic and microeconomic data paint conflicting pictures of price behavior. Macroeconomic data suggest that inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which resolves this apparent micro - macro conflict. Our...

Persistent link: https://www.econbiz.de/10011584699

Firm-specific capital, nominal rigidities and the business cycle

Altig, David; Christiano, Lawrence J.; Eichenbaum, Martin S. - 2005

Persistent link: https://www.econbiz.de/10002685179

Optimal Monetary Policy in a 'Sudden Stop'

Braggion, Fabio - 2010

In the wake of the 1997-98 financial crises, interest rates in Asia were raised immediately, and then reduced sharply. We describe an environment in which this is the optimal monetary policy. The optimality of the immediate rise in the interest rate is an example of the theory of the second...

Persistent link: https://www.econbiz.de/10012759929

Has the Financial Crisis Permanently Changed the Practice of Monetary Policy? Has it Changed the Theory of Monetary Policy?

Friedman, Benjamin M. - 2014

I argue in this paper that one of the two forms of hitherto unconventional monetary policy that many central banks have implemented in response to the 2007 financial crisis - large-scale asset purchases, or to put the matter more generically, use of the central bank's balance sheet as a distinct...

Persistent link: https://www.econbiz.de/10013053846

The Relative Stability of Money and Credit "Velocities" in the United States : Evidence and Some Speculations

Friedman, Benjamin M. - 2022

Is credit as closely related to income as is money? Results presented in the first half of this paper, based on a variety of methodological approaches, consistently indicate that the aggregate of outstanding credit liabilities of all nonfinancial borrowers in the United States bears as close a...

Persistent link: https://www.econbiz.de/10013324632

The Rise and Fall of Money Growth Targets as Guidelines for U.S. Monetary Policy

Friedman, Benjamin M. - 2021

A familiar question raised by the Federal Reserve System's evolving use of money growth targets over the past twenty years is whether monetary policymakers had sound economic reasons for changing their procedures as they did -- either in adopting money growth targets in the first place, or in...

Persistent link: https://www.econbiz.de/10013224327

The Simple Analytics of Monetary Policy : A Post-Crisis Approach

Friedman, Benjamin M. - 2013

The standard workhorse models of monetary policy now commonly in use, both for teaching macroeconomics to students and for supporting policymaking within many central banks, are incapable of incorporating the most widely accepted accounts of how the 2007-9 financial crisis occurred and incapable...

Persistent link: https://www.econbiz.de/10013083392