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On the Structural Interpretation of the Smets-Wouters “Risk Premium” Shock

Fisher, Jonas D. M. - Federal Reserve Bank of Chicago - 2014

This article shows that the "risk premium" shock in Smets and Wouters (2007) can be interpreted as a structural shock to the demand for safe and liquid assets such as short-term US Treasury securities. Several implications of this interpretation are discussed.

Persistent link: https://www.econbiz.de/10011093785

Oligopoly banking and capital accumulation

Cetorelli, Nicola (contributor); … - 2000 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001658362

The dynamics of work and debt

Campbell, Jeffrey R. (contributor); … - 2004 - [Elektronische Ressource]

"This paper characterizes the labor supply and borrowing of a household facing collateral requirements that limit its debt and compel it to accumulate equity in its durable goods stock. The household's discount rate exceeds the market rate of interest, so it would otherwise finance increased...

Persistent link: https://www.econbiz.de/10001952270

The effects of progressive taxation on labor supply when hours and wages are jointly determined

Aaronson, Daniel (contributor); French, Eric (contributor) - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001761492

Can VAR's describe monetary policy?

Evans, Charles L.; Kuttner, Kenneth N. - Federal Reserve Bank of Chicago - 1998

Recent research has questioned the usefulness of Vector Autoregression (VAR) models as a description of monetary policy, especially in light of the low correlation between forecast errors from VARs and those derived from Fed funds futures rates. This paper presents three findings on VARs'...

Persistent link: https://www.econbiz.de/10005520000

Women and the Phillips curve : do women's and men's labor market outcomes differentially affect real wage growth and inflation

Anderson, Katharine (contributor); Barrow, Lisa (contributor) - 2003 - [Elektronische Ressource]

unemployment. Juhn, Murphy, and Topel (2002) point out that the low unemployment rates for men in the 1990s were accompanied by … historically high rates of non-employment suggesting that the 1990s economy was not as strong as the unemployment rate might … increase in women's labor force participation more than offsets the decline for men, and low unemployment rates in the 1990s …

Persistent link: https://www.econbiz.de/10001920872

Monetary policy, output composition and the Great Moderation

Mojon, Benoît - Federal Reserve Bank of Chicago - 2007

This paper shows how US monetary policy contributed to the drop in the volatility of US output fluctuations and to the decoupling of household investment from the business cycle. I estimate a model of household investment, an aggregate of non durable consumption and corporate sector investment,...

Persistent link: https://www.econbiz.de/10005726320

Inside-outside money competition

Marimon, Ramon (contributor); … - 2003 - [Elektronische Ressource], rev

"We study how competition from privately supplied currency substitutes affects monetary equilibria. Whenever currency is inefficiently provided, inside money competition plays a disciplinary role by providing an upper bound on equilibrium inflation rates. Furthermore, if Furthermore, if 'inside...

Persistent link: https://www.econbiz.de/10001914312

Economic perspectives

Federal Reserve Bank of Chicago - Chicago, Ill. : Federal Reserve Bank of Chicago - Nachgewiesen 3.1977 -

Persistent link: https://www.econbiz.de/10001637311

Monetary policy in a financial crisis

Christiano, Lawrence J. (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001676634

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