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Macroeconomic dynamics near the ZLB: a tale of two equilibria
Aruoba, S. Boragan; Schorfheide, Frank - Federal Reserve Bank of Philadelphia - 2013
This paper studies the dynamics of a New Keynesian dynamic stochastic general equilibrium (DSGE) model near the zero lower bound (ZLB) on nominal interest rates. In addition to the standard targeted-inflation equilibrium, we consider a deflation equilibrium as well as a Markov sunspot...
Persistent link: https://www.econbiz.de/10010681653
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Money and capital: a quantitative analysis
Aruoba, S. Boragan; Waller, Christopher J.; Wright, Randall - Federal Reserve Bank of St. Louis - 2009
We study the effects of money (anticipated inflation) on capital formation. Previous papers on this topic adopt reduced …-form approaches, putting money in the utility function or imposing cash in advance, but use otherwise frictionless models. We follow a … literature that is more explicit about the frictions making money essential. This introduces several new elements, including a …
Persistent link: https://www.econbiz.de/10005077876
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United Kingdom
Deroose, Servaas (contributor); Mors, Matthias (contributor) - 2012
Persistent link: https://www.econbiz.de/10009614156
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Sweden
Deroose, Servaas (contributor); Mors, Matthias (contributor) - 2012
Persistent link: https://www.econbiz.de/10009614158
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France
Deroose, Servaas (contributor); Mors, Matthias (contributor) - 2012
Persistent link: https://www.econbiz.de/10009614161
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Hungary
Deroose, Servaas (contributor); Mors, Matthias (contributor) - 2012
Persistent link: https://www.econbiz.de/10009614163
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Belgium
Deroose, Servaas (contributor); Mors, Matthias (contributor) - 2012
Persistent link: https://www.econbiz.de/10009614168
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Real-time macroeconomic monitoring: real activity, inflation, and interactions
Aruoba, S. Boragan; Diebold, Francis X. - Federal Reserve Bank of Philadelphia - 2010
The authors sketch a framework for monitoring macroeconomic activity in real-time and push it in new directions. In particular, they focus not only on real activity, which has received most attention to date, but also on inflation and its interaction with real activity. As for the recent...
Persistent link: https://www.econbiz.de/10008627185
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When do stock market booms occur? the macroeconomic and policy environments of 20th century booms
Bordo, Michael D.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2006
This paper studies the macroeconomic conditions and policy environments under which stock market booms occurred among ten developed countries during the 20th Century. We find that booms tended to occur during periods of above-average growth of real output, and below-average and falling...
Persistent link: https://www.econbiz.de/10005352825
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Inflation, monetary policy and stock market conditions: quantitative evidence from a hybrid latent-variable VAR
Bordo, Michael D.; Dueker, Michael J.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2009
This paper examines the association between inflation, monetary policy and U.S. stock market conditions during the second half of the 20th century. We use a latent-variable VAR to estimate the impact of inflation and other macroeconomic shocks on a latent index of stock market conditions. Our...
Persistent link: https://www.econbiz.de/10005352826