Similar Search Results

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

Using extraneous information to analyze monetary policy in transition economies

Gavin, William T.; Kemme, David M. - Federal Reserve Bank of St. Louis - 2007

Empirical work in macroeconomics is plagued by small sample size and large idiosyncratic variation. This problem is especially severe in the case of transition economies. We use a mixed estimation method incorporating information from OECD country data to estimate the parameters of a...

Persistent link: https://www.econbiz.de/10005490941

Do productivity growth, budget deficits, and monetary policy actions affect real interest rates? evidence from macroeconomic announcement data

Kliesen, Kevin L.; Schmid, Frank A. - Federal Reserve Bank of St. Louis - 2004

responds positively to surprises in labor productivity growth. However, we do not reject the hypothesis that the real long …

Persistent link: https://www.econbiz.de/10005352806

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

A common model approach to macroeconomics : using panel data reduce sampling error

Gavin, William T. (contributor); … - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001986936

Are government spending multipliers greater during periods of slack? evidence from 20th century historical data

Owyang, Michael T.; Ramey, Valerie A.; Zubairy, Sarah - Federal Reserve Bank of St. Louis - 2013

A key question that has arisen during recent debates is whether government spending multipliers are larger during times when resources are idle. This paper seeks to shed light on this question by analyzing new quarterly historical data covering multiple large wars and depressions in the U.S. and...

Persistent link: https://www.econbiz.de/10011027317

Frontiers in monetary policy research : proceedings of the Thirty-First Annual Economic Policy Conference of the Federal Reserve Bank of St.Louis

Gavin, William T. (contributor) - 2007

Persistent link: https://www.econbiz.de/10003507821

Productivity measurement and monetary policymaking during the 1990s

Anderson, Richard G. (contributor); … - 2005

"The acceleration of productivity growth during the latter half of the 1990s was both the defining economic event of the decade and a major topic of debate among Federal Reserve policymakers. A key aspect of the debate was the conflict between incoming aggregate data, which initially suggested...

Persistent link: https://www.econbiz.de/10003148619

Monetary policy, taxes and the business cycle

Gavin, William T. (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002496910