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Dynamic taxation, private information and money

Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2009

frictions giving rise to money as a medium of exchange are explicitly modeled. The framework is a three period OLG model where … production efficiency in the search market. In the absence of record-keeping, the government uses flat money as a substitute for … distortionary taxation of money may be needed as part of the optimal policy even if lump-sum taxes are available. …

Persistent link: https://www.econbiz.de/10005077872

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

Frontiers of real-time data analysis

Croushore, Dean - Federal Reserve Bank of Philadelphia - 2008

This paper describes the existing research (as of February 2008) on real-time data analysis, divided into five areas: (1) data revisions; (2) forecasting; (3) monetary policy analysis; (4) macroeconomic research; and (5) current analysis of business and financial conditions. In each area,...

Persistent link: https://www.econbiz.de/10005717345

A real-time data set for macroeconomists

Croushore, Dean; Stark, Tom - Federal Reserve Bank of Philadelphia - 1999

This paper presents the concept and uses of a real-time data set that can be used by economists for testing the robustness of published econometric results, for analyzing policy, and for forecasting. The data set consists of vintages, or snapshots, of the major macroeconomic data available at...

Persistent link: https://www.econbiz.de/10005717356

Is macroeconomic research robust to alternative data sets?

Croushore, Dean; Stark, Tom - Federal Reserve Bank of Philadelphia - 2002

This paper uses a real-time data set to analyze data revisions and to test the robustness of published econometric results. The data set consists of vintages, or snapshots, of the major macroeconomic data available at quarterly intervals in real time. The paper illustrates why such data may...

Persistent link: https://www.econbiz.de/10005389555

A real-time data set for marcoeconomists: does the data vintage matter?

Croushore, Dean; Stark, Tom - Federal Reserve Bank of Philadelphia - 1999

This paper presents a real-time data set that can be used by economists for testing the robustness of published econometric results, for analyzing policy, and for forecasting. The data set consists of vintages, or snapshots, of the major macroeconomic data available at quarterly intervals in...

Persistent link: https://www.econbiz.de/10005389694

Fiscal policy: ex ante and ex post

Croushore, Dean; van Norden, Simon - Federal Reserve Bank of Philadelphia - 2014

The surge in fiscal deficits since 2008 has put a renewed focus on the authors’ understanding of fiscal policy. The interaction of fiscal and monetary policy during this period has also been the subject of much discussion and analysis. This paper gives new insight into past fiscal policy and...

Persistent link: https://www.econbiz.de/10010930299

Optimal stabilization policy with endogenous firm entry

Berentsen, Aleksander; Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2009

stabilization policy in a DSGE model with microfounded money demand and endogenous firm entry. Due to a congestion externality …

Persistent link: https://www.econbiz.de/10005077874

Price level targeting and stabilization policy

Berentsen, Aleksander; Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2009

fully flexible and money is essential for trade. Our main result is that if the central bank pursues a price-level target … policy involves smoothing nominal interest rates which effectively smooths consumption across states. …

Persistent link: https://www.econbiz.de/10005077878

Random matching and money in the neoclassical growth model: some analytical results

Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2009

I use the monetary version of the neoclassical growth model developed by Aruoba, Waller and Wright (2008) to study the properties of the model when there is exogenous growth. I first consider the planner's problem, then the equilibrium outcome in a monetary economy. I do so by first using...

Persistent link: https://www.econbiz.de/10005077879