Narrow search
Showing 1 - 10 of 264,712
Cover Image
Real and nominal effects of monetary shocks under time-varying disagreement
Esady, Vania - 2019
This paper investigates the heterogeneity of monetary policy transmission under time-varying disagreement regimes using a threshold VAR. Empirically, I establish that during times of high disagreement, prices respond more sluggishly in response to monetary shocks. These stickier prices cause a...
Persistent link: https://www.econbiz.de/10012124866
Cover Image
Real and Nominal Effects of Monetary Shocks Under Time-Varying Disagreement
Esady, Vania - 2019
This paper investigates the heterogeneity of monetary policy transmission under time-varying disagreement regimes using a threshold VAR. Empirically, I establish that during times of high disagreement, prices respond more sluggishly in response to monetary shocks. These stickier prices cause a...
Persistent link: https://www.econbiz.de/10012858703
Cover Image
Understanding persistent stagnation
Cuba-Borda, Pablo; Singh, Sanjay R. - 2019 - This version: February 2019
We theoretically explore long-run stagnation at the zero lower bound in a representative agent framework. We analytically compare expectations-driven stagnation to a secular stagnation episode and find contrasting policy implications for changes in government spending, supply shocks and...
Persistent link: https://www.econbiz.de/10012004630
Cover Image
Looking through supply shocks versus controlling inflation expectations : understanding the Central Bank dilemma
Beaudry, Paul; Carter, Thomas J.; Lahiri, Amartya - 2022 - Last updated: September 20, 2022
Central banks in most advanced economies have reacted similarly to the increase in inflation that started in 2021. They initially looked through the rising inflation by leaving monetary policy relatively unchanged. Then, after inflation continued to increase, central banks pivoted by quickly...
Persistent link: https://www.econbiz.de/10013370504
Cover Image
Forward-Looking Monetary Policy and Anticipated Shocks to Inflation
Kapinos, Pavel S. - 2011
This paper extends a standard New Keynesian model to describe the effects of anticipated shocks to inflation and forward-looking monetary policy. Using the data generated from this modified model suggests that overlooking these two factors in the standard Cholesky structural vector...
Persistent link: https://www.econbiz.de/10013123948
Cover Image
Do exchange rates absorb demand shocks at the ZLB?
Hoffmann, Mathias; Hürtgen, Patrick - 2021
appreciates in response to an asymmetric negative demand shock at the zero lower bound (ZLB) and exacerbates the adverse … at the ZLB. In sharp contrast to the full information model: (i) A negative demand shock concentrated in the home country … causes a real exchange rate depreciation that partially absorbs the demand shock. (ii) A VAR with an identified demand shock …
Persistent link: https://www.econbiz.de/10012510174
Cover Image
Optimal Monetary Policy When Inflation Dynamics are Uncertain and Non-Orthogonal to Shocks
Pinkwart, Nicolas - 2011
parameter and inflation shock. Moreover, the paper discusses this covariance in the light of the microfoundations of the hybrid …
Persistent link: https://www.econbiz.de/10013132404
Cover Image
Deflationary Shocks and De-Anchoring of Inflation Expectations
Busetti, Fabio - 2015
A prolonged period of low inflation, particularly in a situation of monetary policy rates near the zero lower bound, can heighten the risk of inflation expectations de-anchoring from the central bank objective. The purpose of this paper is to assess the effects of a sequence of deflationary...
Persistent link: https://www.econbiz.de/10013024846
Cover Image
Macroeconomic Regimes
Baele, Lieven - 2015
between accommodating and active monetary policy regimes, which play an as important role as shock volatility in driving the …
Persistent link: https://www.econbiz.de/10013037980
Cover Image
Macroeconomic Regimes
Baele, Lieven; Bekaert, Geert; Cho, Seonghoon; … - 2015
We estimate a New-Keynesian macro model accommodating regime-switching behavior in monetary policy and in macro shocks. Key to our estimation strategy is the use of survey - based expectations for inflation and output. We identify accommodating monetary policy before 1980, with activist monetary...
Persistent link: https://www.econbiz.de/10014178114