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Capital Injection to Save Bank Crisis
OKADA, Isamu; TAKAHASHI, Ichiro - Society for Computational Economics - SCE - 2005
purposes, we construct an agent-based simulation model with asset traders, commercial banks and a central bank. Our …
Persistent link: https://www.econbiz.de/10005343012
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Monetary Policy and the Term Structure: A Fully Structural DSGE approach
Marzo, Massimiliano; Sodestrom, Ulf; Zagaglia, Paolo - Society for Computational Economics - SCE - 2006
This paper highlights the analysis of the term structure of interest rate within a full DSGE model. Our goal consists in setting up a full model including the feed-back from the economy to the term structure and vice-versa. Contrary to existing models of the term structure (TS, henceforth) (for...
Persistent link: https://www.econbiz.de/10005132586
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Optimising Microfoundations for Inflation Persistence
Mash, Richard - Society for Computational Economics - SCE - 2006
We connect two major strands of the recent monetary policy literature, i) the search for well microfounded optimising models consistent with macroeconomic data, especially persistence in inflation, and ii) the wealth of newly available microeconomic data on price changing behaviour from the...
Persistent link: https://www.econbiz.de/10005132602
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A Quantitive Assessment of the Qualitative Aspects of Chairman Greenspan's Communications
Bligh, Michelle; Hess, Gregory D. - Society for Computational Economics - SCE - 2006
is consistent with the beneficial goals from enhanced central bank communications …
Persistent link: https://www.econbiz.de/10005132637
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Central Bank Estimates of the Unemployment Natural Rate
Tinsley, Peter; Kozicki, Sharon - Society for Computational Economics - SCE - 2005
Market Committee of the United States Federal Reserve to estimate evolving central bank perceptions of the natural rate of … and central bank forecasts. This paper discusses computational challenges and advantages of the Greenbook data and … bank perceptions that are not evident in real-time data releases. Thus, use of Greenbook forecast data provides sufficient …
Persistent link: https://www.econbiz.de/10005132650
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Keynesian Dynamics and the Wage-Price Spiral:Estimating and Analyzing a Baseline Disequilibrium Approach
Semmler, W.; Chen, P.; Chiarella, C. - Society for Computational Economics - SCE - 2005
In this paper, we reformulate the theoretical baseline DAS-AD model of Asada, Chen, Chiarella and Flaschel (2004) to allow for its somewhat simplified empirical estimation. The model now exhibits a Taylor interest rate rule in the place of an LM curve and a dynamic IS curve and dynamic...
Persistent link: https://www.econbiz.de/10005132651
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How the Bundesbank really conducted monetary policy
Gerberding, Christina; Seitz, Franz; Worms, Andreas - Society for Computational Economics - SCE - 2005
1998 can well be captured by a standard Taylor rule according to which the central bank responds to the output gap and to …
Persistent link: https://www.econbiz.de/10005132654
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Time Consistent Policy in Markov Switching Models
Zampolli, Fabrizio; Blake, Andrew P. - Society for Computational Economics - SCE - 2005
In this paper we consider the quadratic optimal control problem with regime shifts and forward-looking agents. This extends the results of Zampolli (2003) who considered models without forward-looking expectations. Two algorithms are presented: The first algorithm computes the solution of a...
Persistent link: https://www.econbiz.de/10005132660
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Robust Monetary Policy with Imperfect Knowledge
Williams, John C; Orphanides, Athanasios - Society for Computational Economics - SCE - 2005
which the economy undergoes structural change and where private agents and the central bank possess imperfect knowledge …
Persistent link: https://www.econbiz.de/10005132680
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Real-time data for Norway: Output gap revisions and challenges for monetary policy
BERNHARDSEN, TOM; EITRHEIM, ØYVIND - Society for Computational Economics - SCE - 2005
is a danger that an important part of the central bank's information set is flawed for a substantial period of time. In …
Persistent link: https://www.econbiz.de/10005132699