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Does Policy Communication During Covid Work?

Coibion, Olivier - 2020

Using a large-scale survey of U.S. households during the Covid-19 pandemic, we study how new information about fiscal and monetary policy responses to the crisis affects households' expectations. We provide random subsets of participants in the Nielsen Homescan panel with different combinations...

Persistent link: https://www.econbiz.de/10012830487

International Coordination in the Design of Macroeconomic Policy Rules

Taylor, John B. - 2021

The paper examines international issues that arise in the design and evaluation of macroeconomic policy rules. It begins with a theoretical investigation of the effects of fiscal and monetary policy in a two-country rational expectations model with staggered wage and price setting and with...

Persistent link: https://www.econbiz.de/10013247284

Surprising Comparative Properties of Monetary Models : Results from a New Data Base

Taylor, John B. - 2010

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy …

Persistent link: https://www.econbiz.de/10012757616

Estimated Impact of the Fed's Mortgage-Backed Securities Purchase Program

Stroebel, Johannes - 2010

We examine the quantitative impact of the Federal Reserve's mortgage-backed securities (MBS) purchase program. We focus on how much of the recent decline in mortgage interest rate spreads can be attributed to these purchases. The question is more difficult than frequently perceived because of...

Persistent link: https://www.econbiz.de/10013149572

Monetary Policy, Trend Inflation and the Great Moderation : An Alternative Interpretation

Coibion, Olivier - 2009

that 1) while the Fed likely satisfied the Taylor principle in the pre-Volcker era, the US economy was still subject to … self-fulfilling fluctuations in the 1970s, 2) the US economy moved from indeterminacy to determinacy during the Volcker …

Persistent link: https://www.econbiz.de/10012765368

Monetary Policy When Potential Output is Uncertain : Understanding the Growth Gamble of the 1990s

Gorodnichenko, Yuriy; Shapiro, Matthew D. - 2022

The Fed kept interest rates low and essentially unchanged during the late 1990s despite a booming economy and record … evident that the productive capacity of the economy increased. Yet as events unfolded, there was uncertainty about the … expansion of the capacity of the economy and therefore about the sustainability of the Fed's policy. This paper provides an …

Persistent link: https://www.econbiz.de/10013309239

Trade Policy and Economic Development : How We Learn

Krueger, Anne O. - 2021

Ideas with regard to trade policy and economic development have changed radically since the 1950s. Then and now, it was recognized that trade policy was central to the overall design of policies for economic development. But in the early days, there was a broad consensus that trade policy for...

Persistent link: https://www.econbiz.de/10013247646

Theory and Practice of Commercial Policy : 1945-1990

Krueger, Anne O. - 2008

In this paper, the evolution of thought regarding protectionist trade policies in developed and in developing countries is examined and contrasted. In the developing countries distrust of markets and a belief in the infant industry argument led to highly protectionist trade regimes. The...

Persistent link: https://www.econbiz.de/10014074401

Trade Policy as an Input to Development

Krueger, Anne O. - 2022

My topic is the question: what difference does the set of commercial policies chosen by a developing country make to its rate of economic growth? Three points are salient. First, in its present state, trade theory provides little guidance as to the role of trade policy and trade strategy in...

Persistent link: https://www.econbiz.de/10013324484

How Did U.S. Consumers Use Their Stimulus Payments?

Coibion, Olivier - 2020

Using a large-scale survey of U.S. consumers, we study how the large one-time transfers to individuals from the CARES Act affected their consumption, saving and labor-supply decisions. Most respondents report that they primarily saved or paid down debts with their transfers, with only about 15...

Persistent link: https://www.econbiz.de/10012825493