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We study macroeconomic systems with forward-looking private sector agents and a monetary authority that is trying to control the economy through the use of a linear policy feedback rule. A typical finding in the burgeoning literature in this area is that policymakers should be relatively...
Persistent link: https://www.econbiz.de/10005352838
monetary policy framework. Inclusion of judgement in forecasts can lead to self-fulfilling fluctuations, but without the …
Persistent link: https://www.econbiz.de/10005707643
"Death of a Theory," presented in St. Louis. January 13, 2012.
Persistent link: https://www.econbiz.de/10010727311
"SNEAK PREVIEW: Death of a Theory." Presented at the Korea-America Economic Association, Chicago, Illinois. January 7, 2012.
Persistent link: https://www.econbiz.de/10010727349
inside and outside money does and does not allow the economy to achieve a first-best allocation of resources. We also study …
Persistent link: https://www.econbiz.de/10005360600
inside and outside money does and does not allow the economy to achieve a first-best allocation of resources. We also study …
Persistent link: https://www.econbiz.de/10005360633
, either by themselves, or alongside a stock of outside money. In each case we provide results on the existence and …
Persistent link: https://www.econbiz.de/10005352978
This paper adds to the literature on wealth effects on consumption by disentangling house price effects on consumption … movements have different implications for the consumption/housing ratio. We exploit the geographical variation in property … model. Overall, the results suggest a significant long run impact of property prices on consumption. They also broadly …
Persistent link: https://www.econbiz.de/10010877108
Presented at the 19th Symposium of the Society for Nonlinear Dynamics and Econometrics, the Institute for International Economic Policy, Elliott School of International Affairs, The George Washington University, Washington D.C.
Persistent link: https://www.econbiz.de/10010727308
February 13, 2013. Presentation. "The Recent Reduction in Global Macroeconomic Uncertainty." Arkansas State University Agribusiness Conference, Jonesboro, Arkansas.
Persistent link: https://www.econbiz.de/10010727319