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Interest rate pass-through, monetary policy rules and macroeconomic stability
Kwapil, Claudia; Scharler, Johann - 2006
Persistent link: https://www.econbiz.de/10003318701
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Interest rate pass-through, monetary policy rules and macroeconomic stability
Kwapil, Claudia (contributor); Scharler, Johann (contributor) - 2006
Persistent link: https://www.econbiz.de/10003367515
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Estimated general equilibrium models for the evaluation of monetary policy in the US and Europe
Leith, Campbell B.; Malley, James R. - 2002
A persistent criticism of general equilibrium models of monetary policy which incorporate nominal inertia in the form of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In this paper we derive a general equilibrium model based on...
Persistent link: https://www.econbiz.de/10011409738
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BEMGIE : Belgian Economy in a Macro General and International Equilibrium model
De Walque, Gregory; Lejeune, Thomas; Rannenberg, Ansgar; … - 2023
This paper outlines the three-country New Keynesian Dynamic Stochastic General Equilibrium model of the National Bank of Belgium. The model is named BEMGIE for Belgian Economy in a Macro General and International Equilibrium model. It features imperfect market competition, standard real and...
Persistent link: https://www.econbiz.de/10014233574
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The New Keynesian approach to dynamic general equilibrium modeling : models, methods, and macroeconomic policy evaluation
Schmidt, Sebastian; Wieland, Volker - 2012
This chapter aims to provide a hands-on approach to New Keynesian models and their uses for macroeconomic policy analysis. It starts by reviewing the origins of the New Keynesian approach, the key model ingredients and representative models. Building blocks of current-generation dynamic...
Persistent link: https://www.econbiz.de/10010391304
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Is the Taylor Rule still an adequate representation of monetary policy in macroeconomic models?
Dean, James; Schuh, Scott - 2021
Persistent link: https://www.econbiz.de/10012796817
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The Poole analysis in the new open economy macroeconomic framework
Hoffmann, Mathias; Kempa, Bernd - 2006
This paper evaluates simple, non-optimising monetary policy rules in the tradition of the well-known Poole analysis within a general two-country open-economy model of the New Open Economy Macroeconomic framework. Pure money supply rules are compared with simple interest rate rules for the large...
Persistent link: https://www.econbiz.de/10009525985
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Jobless recovery, liquidity trap, tight monetary policy and the cost channel
Pathberiya, Lasitha R. C. - 2018
Persistent link: https://www.econbiz.de/10011884398
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Monetary policy in a world where money (also) matters
Shagi, Makram el-; Giesen, Sebastian; Kelly, Logan J. - 2012
While the long-run relation between money and inflation as predicted by the quantity theory is well established … the quantity theory within a given economy is mixed. Previous research has found support for quantity theory within a … denkbaren mittel- und langfristigen Konsequenzen der Geldpolitik. In diesem Papier stellen wir ein übersichtliches und dabei nur …
Persistent link: https://www.econbiz.de/10009664655
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Does trade integration alter monetary policy transmission?
Cwik, Tobias J.; Müller, Gernot J.; Wolters, Maik H. - 2008
This paper explores the role of trade integrationor opennessfor monetary policy transmission in a medium-scale New Keynesian model. Allowing for strategic complementarities in price-setting, we highlight a new dimension of the exchange rate channel by which monetary policy directly impacts...
Persistent link: https://www.econbiz.de/10003831215