Showing 1 - 4 of 4
Recession ; fundamental inflation ; DSGE models ; Bayesian estimation …
Persistent link: https://www.econbiz.de/10009744674
We introduce liquidity frictions into an otherwise standard DSGE model with nominal and real rigidities, explicitly incorporating the zero bound on the short-term nominal interest rate. Within this framework, we ask: Can a shock to the liquidity of private paper lead to a collapse in short-term...
Persistent link: https://www.econbiz.de/10009349619
: estimation of parameters that are relevant for policy trade-offs and treatment of estimated deviations from the cross …
Persistent link: https://www.econbiz.de/10003781475
The trend in the world real interest rate for safe and liquid assets fluctuated close to 2 percent for more than a century, but has dropped significantly over the past three decades. This decline has been common among advanced economies, as trends in real interest rates across countries have...
Persistent link: https://www.econbiz.de/10011904671