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Credit markets, limited commitment, and government debt

Williamson, Stephen; Carapella, Francesca - Federal Reserve Bank of St. Louis - 2014

A dynamic model with credit under limited commitment is constructed, in which limited memory can weaken the effects of punishment for default. This creates an endogenous role for government debt in credit markets, and the economy can be non-Ricardian. Default can occur in equilibrium, and...

Persistent link: https://www.econbiz.de/10010754948

The federal reserve responds to crises : September 11th was not the first

Neely, Christopher J. (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001986726

Financial risk: theory, evidence and implications : proceedings of the eleventh Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis

Stone, Courtenay C. (ed.) - 1989

Persistent link: https://www.econbiz.de/10000139958

Targeting vs. instrument rules for monetary policy

McCallum, Bennett T. (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002115955

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

Optimal monetary policy, endogenous sticky prices, and multiplicity of equilibria

Barseghyan, Levon (contributor); … - 2005 - rev.

"We analyze optimal monetary policy in an endogenous sticky price model. Similar models with exogenous sticky prices can deliver multiplicity of equilibria. Multiplicity of equilibria is a necessary condition for expectation traps to explain the variation across time and countries of inflation...