Similar Search Results

Learning about a shift in trend output : implications for a monetary policy and inflation

Lansing, Kevin J. (contributor) - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001578261

New Keynesian optimal-policy models : an empirical assessment

Dennis, Richard J. (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001868136

A macro-finance model of the term structure, monetary policy, and the economy

Rudebusch, Glenn D. (contributor); Wu, Tao (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001868173

Betting the house

Jorda, Oscar; Schularick, Moritz; Taylor, Alan M. - Federal Reserve Bank of San Francisco - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...

Persistent link: https://www.econbiz.de/10011114889

Modeling yields at the zero lower bound: are shadow rates the solution?

Christensen, Jens Henrik Eggert; Rudebusch, Glenn - Federal Reserve Bank of San Francisco - 2013

Recent U.S. Treasury yields have been constrained to some extent by the zero lower bound (ZLB) on nominal interest rates. In modeling these yields, we compare the performance of a standard affine Gaussian dynamic term structure model (DTSM), which ignores the ZLB, and a shadow-rate DTSM, which...

Persistent link: https://www.econbiz.de/10010728015

Resolving the spanning puzzle in macro-finance term structure models

Bauer, Michael Dominic; Rudebusch, Glenn - Federal Reserve Bank of San Francisco - 2015

Previous macro-finance term structure models (MTSMs) imply that macroeconomic state variables are spanned by (i.e., perfectly correlated with) model-implied bond yields. However, this theoretical implication appears inconsistent with regressions showing that much macroeconomic variation is...

Persistent link: https://www.econbiz.de/10011123659

A probability-based stress test of Federal Reserve assets and income

Christensen, Jens Henrik Eggert; Lopez, Jose A.; … - Federal Reserve Bank of San Francisco - 2013

To support the economy, the Federal Reserve amassed a large portfolio of long-term bonds. We assess the Fed’s associated interest rate risk — including potential losses to its Treasury securities holdings and declines in remittances to the Treasury. Unlike past examinations of this interest...

Persistent link: https://www.econbiz.de/10011026933

The decline of activist stabilization policy: natural rate misperceptions, learning, and expectations

Orphanides, Athanasios; Williams, John C. - Federal Reserve Bank of San Francisco - 2003

and destabilized the economy. Had monetary policy reacted less aggressively to perceived unemployment gaps, inflation … activist policies would have been more effective at stabilizing both inflation and unemployment. We argue that policymakers … the natural rate of unemployment during the late 1960s and 1970s on the formation of expectations and macroeconomic …

Persistent link: https://www.econbiz.de/10010702201

The decline of activist stabilization policy: natural rate misperceptions, learning, and expectations

Orphanides, Athanasios; Williams, John C. - Federal Reserve Bank of San Francisco - 2003

Persistent link: https://www.econbiz.de/10005721444

Money, income, prices and interest rates : a comment

Ingenito, Robert; Trehan, Bharat - 1994

Persistent link: https://www.econbiz.de/10000905750

1
2
3
4
5
6
7
8
9
10
Next
Last