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Optimal monetary policy with durable and non-durable goods
Erceg, Christopher J. (contributor);  … - 2002
Persistent link: https://www.econbiz.de/10001702822
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Asymmetric monetary policy rules for the euro area and the US
Maih, Junior; Mazelis, Falk; Motto, Roberto; … - 2021
We analyse the implications of asymmetric monetary policy rules by estimating Markovswitching DSGE models for the euro area (EA) and the US. The estimations show that until mid-2014 the ECB's response to in ation was more forceful when in ation was above 2% than below 2%. Since then, the ECB's...
Persistent link: https://www.econbiz.de/10012617047
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Optimal monetary policy revisited : does considering US real-time data change things?
Cassou, Steven Peter; Scott, C. Patrick; Vázquez, Jesús - In: Applied economics 50 (2018) 57, pp. 6203-6219
Persistent link: https://www.econbiz.de/10012063405
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Introducing dominant currency pricing in the ECB's global macroeconomic model
Georgiadis, Georgios; Mösle, Saskia - 2019
importer's currency has important implications for the transmission of shocks. We introduce this "dominant currency pricing … a non-US economy that alters the value of its currency multilaterally, expenditure-switching occurs only through imports … dominant currency in global trade. According to ECB-Global, in such a scenario the global spillovers from US shocks are smaller …
Persistent link: https://www.econbiz.de/10012107938
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Discretionary policy, multiple equilibria, and monetary instruments
Schabert, Andreas (contributor) - 2005
This paper examines monetary policy implementation in a sticky price model. The central bank's plan under discretionary optimization is entirely forward-looking and exhibits multiple equilibrium solutions if transactions frictions are not negligibly small. The central bank can then implement...
Persistent link: https://www.econbiz.de/10003162225
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An empirical procedure to evaluate monetary management under exogenous changes in the money supply
Barbosa, Klenio; Fetter, Seiji; Rocha, Bruno de Paula - In: Applied economics 51 (2019) 12, pp. 1248-1267
Persistent link: https://www.econbiz.de/10012196529
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Monetary policy, neutrality and the environment
Faria, João Ricardo; McAdam, Peter; Viscolani, Bruno - 2021
We study the interaction between monetary and fiscal policies in a Ramsey-Sidrauski model augmented with environmental capital. Equilibrium solutions are studied through the "Green Golden Rule". Despite the non-separability of money in utility and intertemporally nonseparable preferences, money...
Persistent link: https://www.econbiz.de/10012594070
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Inflation targeting and inflation performance : a comparative analysis
Samarina, Anna; Terpstra, Mirre; Haan, Jakob de - In: Applied economics 46 (2014) 1/3, pp. 41-56
Persistent link: https://www.econbiz.de/10010354116
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Monetary policy and inflationary shocks under imperfect credibility
Darracq Pariès, Matthieu; Moyen, Stéphane - 2009
This paper quantifies the deterioration of achievable stabilization outcomes when monetary policy operates under imperfect credibility and weak anchoring of long-term expectations. Within a medium-scale DSGE model, we introduce through a simple signal extraction problem, an imperfect knowledge...
Persistent link: https://www.econbiz.de/10003867037
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Monetary policy rules in theory and in practice : evidence from the UK and the US
Paez-Farrell, Juan - In: Applied economics 41 (2009) 16/18, pp. 2037-2046
Persistent link: https://www.econbiz.de/10003882969