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International evidence on the stability of the optimizing IS equation
Kara, Amit (contributor); Nelson, Edward (contributor) - 2003 - [Elektronische Ressource], rev
Persistent link: https://www.econbiz.de/10001982872
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A state-level analysis of the Great Moderation
Owyang, Michael T.; Piger, Jeremy M.; Wall, Howard J. - Federal Reserve Bank of St. Louis - 2007
the origin of the aggregate volatility reduction. We show that states with relatively high concentrations in the durable-goods …
Persistent link: https://www.econbiz.de/10005360567
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International evidence on the stability of the optimizing IS equation
Kara, Amit; Nelson, Edward - Federal Reserve Bank of St. Louis - 2004
In this paper we provide international evidence on the issue of whether the optimizing IS equation is more stable than a backward-looking alternative. The international evidence consist of estimates of IS equations on quarterly data for the UK and Australia, both for the full sample of the last...
Persistent link: https://www.econbiz.de/10005707758
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Monetary policy actions and the incentive to invest
Emmons, William R. (contributor);  … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002496912
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The U.K.'s rocky road to stability
Batini, Nicoletta (contributor); Nelson, Edward (contributor) - 2005
"This paper provides an overview, using extensive documentary material, of developments in U.K. macroeconomic policy in the last half-century. Rather than focusing on well-known recent changes in policy arrangements (such as the introduction of inflation targeting in 1992 or central bank...
Persistent link: https://www.econbiz.de/10003053139
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Inflation and economic activity in a multiple matching model of money
Laing, Derek; Li, Victor E.; Wang, Ping - Federal Reserve Bank of St. Louis - 1998
-theoretic environment with divisible money and goods. We find that in such a setting, a positive feedback between work and shopping effort …This paper investigates the relationship between money growth, inflation, and productive activity in a general … equilibrium model where search frictions motivate the transactions role of money. The use of a multiple matching technique, where …
Persistent link: https://www.econbiz.de/10005360588
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The efficient market hypothesis and identification in structural VARs
Sarno, Lucio; Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2003
Structural vector autoregression (SVAR) models are commonly used to investigate the effect of structural shocks on economic variables. The identifying restrictions imposed in many of these exercises have been criticized in the literature. This paper extends this literature by showing that if the...
Persistent link: https://www.econbiz.de/10005360546
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Kalman filtering with truncated normal state variables for Bayesian estimation of macroeconomic models
Dueker, Michael - Federal Reserve Bank of St. Louis - 2006
A pair of simple modifications-in the forecast error and forecast error variance-to the Kalman filter recursions makes possible the filtering of models in which one or more state variables is truncated normal and latent. Such recursions are broadly applicable to macroeconometric models, such as...
Persistent link: https://www.econbiz.de/10005707653
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An approximate dual-self model and paradoxes of choice under risk
Fudenberg, Drew; Levine, David K.; Maniadis, Zacharias - Federal Reserve Bank of St. Louis - 2012
We derive a simplified version of the model of Fudenberg and Levine [2006, 2011] and show how this approximate model is useful in explaining choice under risk. We show that in the simple case of three outcomes, the model can generate indifference curves that “fan out” in the Marshack-Machina...
Persistent link: https://www.econbiz.de/10011027334