Similar Search Results

Indexed debt contracts and the financial accelerator

Carlstrom, Charles T; Fuerst, Timothy S; Paustian, Matthius - Federal Reserve Bank of Cleveland - 2011

This paper addresses the positive and normative implications of indexing risky debt to observable aggregate conditions. These issues are pursued within the context of the celebrated financial accelerator model of Bernanke, Gertler and Gilchrist (1999). The principal conclusions are that the...

Persistent link: https://www.econbiz.de/10009292983

Estimating the cost of U.S. indexed bonds

Foresi, Silverio; Penati, Alessandro; Pennacchi, George - Federal Reserve Bank of Cleveland - 1997

A presentation of an equilibrium bond-pricing model driven by two stochastic factors: the real interest rate and the expected rate of inflation. The models parameters are estimated using a maximum-likelihood technique based on a Kalman filter.

Persistent link: https://www.econbiz.de/10005428213

Bracket creep in the age of indexing: have we solved the problem?

Altig, David; Carlstrom, Charles T. - Federal Reserve Bank of Cleveland - 1991

An examination of the inflation-indexing provisions contained in the Economic Recovery Tax Act of 1981 and the Tax Reform Act of 1986.

Persistent link: https://www.econbiz.de/10005428248

Monetary policy in an economy with nominal wage contracts

Carlstrom, Charles T. - Federal Reserve Bank of Cleveland - 1987

A demonstration that optimal monetary policy can be either procyclical or countercyclical in a model where wages are …

Persistent link: https://www.econbiz.de/10005428218

Nominal rigidities and the dynamic effects of a shock to monetary policy

Christiano, Lawrence J.; Eichenbaum, Martin; Evans, Charles - Federal Reserve Bank of Cleveland - 2001

The authors’ model, embodying moderate amounts of nominal rigidities, accounts for the observed inertia in inflation and persistence in output. The key features of their model are those that prevent a sharp rise in marginal costs after an expansionary shock to monetary policy. Of these...

Persistent link: https://www.econbiz.de/10005428259

Monetary policy under rational expectations with multiperiod wage stickiness and an economy-wide credit market

Hoehn, James G. - Federal Reserve Bank of Cleveland - 1987

A reconsideration of the role of monetary policy in a multiperiod sticky-wage model that incorporates rational expectations and displays the natural rate property.

Persistent link: https://www.econbiz.de/10005428428

How amenities affect job and wage choices over the life cycle

Nosal, Ed (contributor); Rupert, Peter (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002542613

A multi-sectoral approach to the U.S. Great Depression

Amaral, Pedro S.; MacGee, James C. - Federal Reserve Bank of Cleveland - 2009

We document sectoral differences in changes in output, hours worked, prices, and nominal wages in the United States …. One sector is assumed to have flexible nominal wages, while nominal wages in the other sector are set using Taylor …. Alternatively, if wages are set using Calvo-type contracts, the decline in output is even smaller. …

Persistent link: https://www.econbiz.de/10008636217

Job separations, heterogeneity, and earnings inequality

Amaral, Pedro S. - Federal Reserve Bank of Cleveland - 2009

Changes in the fraction of workers experiencing job separations can account for most of the increase in earnings dispersion that occurred both between, as well as within educational groups in the United States from the mid-1970s to the mid- 1980s. This is not true of changes in average earnings...

Persistent link: https://www.econbiz.de/10008636222

How amenities affect job and wage choices over the life cycle

Nosal, Ed; Rupert, Peter - Federal Reserve Bank of Cleveland - 2003

may be preferred to one with a high starting wage if the growth rate of wages is higher in the former than in the latter …

Persistent link: https://www.econbiz.de/10005728982

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