Narrow search
Showing 1 - 10 of 62,083
Cover Image
Persistent stochastic shocks in a new Keynesian model with uncertainty
Kranz, Tobias - 2016
be derived by quadratic approximation. This leaves uncertainty in the basic three-equation model. After adding exogenous … AR(1) processes, I examine the results by numerical simulation. First, I derive a reduced-form solution for the nominal …, impulse response functions show the adjustments over time after a cost shock. As a result, accounting for uncertainty can lead …
Persistent link: https://www.econbiz.de/10011479496
Cover Image
Uncovered interest parity with foreign exchange interventions under exchange rate peg and inflation targeting: The case of Ukraine
Grui, Anton - 2020
In this study, I modify the uncovered interest parity condition to account for foreign exchange interventions in the context of a small open economy. This is done in a framework of a semistructural New Keynesian model. I examine the case of Ukraine, which de facto transitioned to inflation...
Persistent link: https://www.econbiz.de/10012429367
Cover Image
Testing the monetary policy rule in the US : a reconsideration of the Fed's behaviour
Minford, Patrick; Ou, Zhirong - 2009
Keynesian model ; the "target rule" ; Taylor-type rules ; Bootstrap simulation ; VAR ; Indirect inference ; Wald statistic …
Persistent link: https://www.econbiz.de/10003882196
Cover Image
The New Keynesian approach to dynamic general equilibrium modeling : models, methods, and macroeconomic policy evaluation
Schmidt, Sebastian; Wieland, Volker - 2012
whether particular policy recommendations are robust to model uncertainty. Such robustness analysis is illustrated by …
Persistent link: https://www.econbiz.de/10010391304
Cover Image
Lumpy Investment and Monetary Policy : A Comparative Analysis in a DSGE New-Keynesian Framework
Coco, Alberto - 2014
This paper analyses the theoretical and policy implications of assuming firm-specific lumpy investment behaviour by firms and compares such implications to those occurring when adopting different investment specifications in a new-Keynesian framework. We develop numerical simulations of the...
Persistent link: https://www.econbiz.de/10013059715
Cover Image
Uncovered interest parity with foreign exchange interventions under exchange rate peg and inflation targeting : the case of Ukraine
Grui, Anton - 2020
In this study, I modify the uncovered interest parity condition to account for foreign exchange interventions in the context of a small open economy. This is done in a framework of a semistructural New Keynesian model. I examine the case of Ukraine, which de facto transitioned to inflation...
Persistent link: https://www.econbiz.de/10012262254
Cover Image
Transitory interest-rate pegs under imperfect credibility
Harrison, Richard John; Haberis, Alex; Waldron, Matt - Centre for Macroeconomics (CFM) - 2014
In this paper we show that the macroeconomic effects of a transient interestrate peg can be significantly dampened when the peg is perceived to be imperfectly credible by the private sector. By doing so, we provide a solution to what has become known as the "forward guidance puzzle". This is the...
Persistent link: https://www.econbiz.de/10011185833
Cover Image
Uncertain Forward Guidance
Haberis, Alex - 2017
We explore the effects of forward guidance at the zero lower bound when there is uncertainty over the lift-off date …
Persistent link: https://www.econbiz.de/10012959532
Cover Image
Stability and Identification with Optimal Macroprudential Policy Rules
Chatelain, Jean-Bernard - 2014
This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest...
Persistent link: https://www.econbiz.de/10013055547
Cover Image
Hopf bifurcation from new-Keynesian Taylor rule to Ramsey optimal policy
Chatelain, Jean-Bernard; Ralf, Kirsten - 2017
This paper shows that a shift from Ramsey optimal policy under short term commitment (based on a negative-feedback mechanism) to a Taylor rule (based on positive-feedback mechanism) in the new-Keynesian model is in fact a Hopf bifurcation, with opposite policy advice. The number of stable...
Persistent link: https://www.econbiz.de/10011660032