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Monetary policy rules under bounded rationality

Dobrew, Michael; Gerke, Rafael; Kienzler, Daniel; … - 2023

We study the welfare performance of various simple monetary policy rules under bounded rationality (BR) along the lines of Gabaix (2020) in a New Keynesian model with sticky wages and an effective lower bound (ELB) on interest rates. Policy strategies with a strong history dependence lose their...

Persistent link: https://www.econbiz.de/10014320809

Make-up strategies with incomplete markets and bounded rationality

Dobrew, Michael; Gerke, Rafael; Giesen, Sebastian; … - 2023

We study the impact of market incompleteness and bounded rationality on the effectiveness of make-up strategies. To do so, we simulate a heterogeneous-agent New Keynesian (HANK) model with reflective expectations and an occasionally-binding effective lower bound (ELB) on the policy rate. Our...

Persistent link: https://www.econbiz.de/10013493615

Credit market imperfections, financial structure and economic activity : an overview of empirical findings

Barrán Cabrera, Fernando - 1994

Persistent link: https://www.econbiz.de/10000888170

The fiscal footprint of macroprudential policy

Reis, Ricardo - 2020

characterizes the size and sign of its fiscal footprint, as well as the states of the world in which the temptation for fiscal goals …

Persistent link: https://www.econbiz.de/10012222608

International banking and liquidity risk transmission : lessons from across countries

Buch, Claudia M.; Goldberg, Linda S. - 2014

Network (IBRN), established in 2012, brings together researchers from around the world with access to micro-data on individual …

Persistent link: https://www.econbiz.de/10010393856

Credibility of monetary regimes: is inflation targeting different?

Kunter, Kürşat; Janssen, Norbert G. J. - 2002

Persistent link: https://www.econbiz.de/10001644514

Carbon taxes, path dependency and directed technical change : evidence from the auto industry

Aghion, Philippe; Dechezleprêtre, Antoine; Hémous, David - 2012

Persistent link: https://www.econbiz.de/10009671328

The golden hello and political transitions

Aidt, Toke; Albornoz, Facundo; Gassebner, Martin - 2012

have taken place. We test this unexplored implication of the theory empirically. We find in a world sample from 1970 to …We analyze the influence of IMF and World Bank programs on political regime transitions. We develop an extended version … transitions ; democracy ; autocracy ; IMF ; World Bank …

Persistent link: https://www.econbiz.de/10009629705

The geography of inter-state resource wars

Caselli, Francesco; Morelli, Massimo; Rohner, Dominic - 2013

Persistent link: https://www.econbiz.de/10009746312

International investment positions and exchange rate dynamics

Binder, Michael; Offermanns, Christian J. - 2014

We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we make use of a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our model the...

Persistent link: https://www.econbiz.de/10010414236

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