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Firm-Specific Information and the Efficiency of Investment
Chari, Anusha - 2006
We use a new firm-level dataset to examine the efficiency of investment in emerging economies. In the three-year period following stock market liberalizations, the growth rate of the typical firm's capital stock exceeds its pre-liberalization mean by an average of 5.4 percentage points....
Persistent link: https://www.econbiz.de/10012466482
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Evolving Reputation for Commitment : The Rise, Fall and Stabilization of US Inflation
King, Robert G.; Lu, Yang - National Bureau of Economic Research - 2022
A parsimonious model of shifting policy regimes can simultaneously capture expected and actual US inflation during 1969-2005. Our model features a forward-looking New Keynesian Phillips curve and purposeful policymakers that can or cannot commit. Private sector learning about policymaker type...
Persistent link: https://www.econbiz.de/10013477255
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Monetary policy rules : [papers based on the National Bureau of Economic Research Conference on Research in Business Cycles, held at Stanford University, 1998]
Taylor, John B. (ed.) - 2001 - Paperback ed.
Persistent link: https://www.econbiz.de/10001535296
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Monetary policy rules
Taylor, John B. (ed.) - 1999
Persistent link: https://www.econbiz.de/10001353848
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Monetary-Based Asset Pricing : A Mixed-Frequency Structural Approach
Bianchi, Francesco; Ludvigson, Sydney C.; Ma, Sai - National Bureau of Economic Research - 2022
We integrate a high-frequency monetary event study into a mixed-frequency macro-finance model and structural estimation …. The model and estimation allow for jumps at Fed announcements in investor beliefs, providing granular detail on why … financial market risk. However, the structural estimation also finds that much of the causal impact of monetary policy on …
Persistent link: https://www.econbiz.de/10013210100
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Has US Monetary Policy Changed? Evidence from Drifting Coefficients and Real-Time Data
Boivin, Jean - 2005
coefficients. The estimation is based on real-time data and accounts for the presence of heteroskedasticity in the policy shock …-sample estimation. In contrast to Orphanides (2002, 2003), I find that the Fed's response to the real-time forecast of inflation was …
Persistent link: https://www.econbiz.de/10012467369
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Monetary Policy in Japan, Germany and the United States : Does One Size Fit All?
Chinn, Menzie D. - 1997
We study the post-war evidence for Japan to see if the same specification for both the economy and the monetary policy rule is useful for understanding Japan's economy and monetary policy. A recurrent theme in the literature on Japanese monetary policy is that there are significant differences...
Persistent link: https://www.econbiz.de/10012472722
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The Constrained Asset Share Estimation (CASE) Method : Testing Mean-Variance Efficiency of the U.S. Stock Market
Engel, Charles - 1993
We apply the method of constrained asset share estimation (CASE) to test the mean-variance efficiency (MVE) of the …
Persistent link: https://www.econbiz.de/10012474666
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The Stabilization of the U.S. Economy Evidence From the Stock Market
Shapiro, Matthew D. - 1988
Until recently, economists widely believed that economic activity had become less variable in the United States following the end of World War II. Challenging this belief, new research suggests that key historical time series are spuriously volatile, a finding that is highly controversial. Data...
Persistent link: https://www.econbiz.de/10012476419
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The Long and Variable Lags of Monetary Policy : Evidence from Disaggregated Price Indices
Aruoba, S. Borağan; Drechsel, Thomas - National Bureau of Economic Research - 2024
We study how monetary policy affects subcomponents of the Personal Consumption Expenditures Price Index (PCEPI) using local projections. Following a monetary policy contraction, the response of aggregate PCEPI turns significantly negative after over three years. There are stark differences in...
Persistent link: https://www.econbiz.de/10014576652