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Risk endogeneity at the lender/investor-of-last-resort

Caballero, Diego; Lucas, André; Schwaab, Bernd; Zhang, Xin - 2019

Persistent link: https://www.econbiz.de/10011981369

Optimal inflation with corporate taxation and financial constraints

Finocchiaro, Daria; Lombardo, Giovanni; Mendicino, Caterina - 2015

Persistent link: https://www.econbiz.de/10011436009

Reasons for the Demise of Interest : Savings Glut and Secular Stagnation or Central Bank Policy?

Schnabl, Gunther - 2019

for the future (global savings glut). Low growth is linked to slowing population growth and a declining marginal …, from the perspective of Austrian business cycle theory, interest rates were step by step decreased by central banks to … nihilo and the need of time to produce capital invalidates the IS identity assumed in the Keynesian theory to hold …

Persistent link: https://www.econbiz.de/10012858697

What anchors for the natural rate of interest?

Borio, Claudio E. V.; Disyatat, Piti; Phurichai … - 2019

Persistent link: https://www.econbiz.de/10012002046

Why so low for so long? : a long-term view of real interest rates

Borio, Claudio E. V.; Disyatat, Piti; Juselius, Mikael; … - 2017

Persistent link: https://www.econbiz.de/10011865826

Uncertainty and Monetary Policy During Extreme Events

Pellegrino, Giovanni - 2020

How damaging are uncertainty shocks during extreme events such as the great recession and the Covid-19 outbreak? Can monetary policy limit output losses in such situations? We use a nonlinear VAR framework to document the large response of real activity to a financial uncertainty shock during...

Persistent link: https://www.econbiz.de/10012822498

Market-Based Monetary Policy Uncertainty

Bauer, Michael - 2019

This paper investigates the role of monetary policy uncertainty for the transmission of FOMC actions to financial markets using a novel model-free measure of uncertainty based on derivative prices. We document a systematic pattern in monetary policy uncertainty over the course of the FOMC...

Persistent link: https://www.econbiz.de/10012871021

Uncertainty and Monetary Policy During the Great Recession

Pellegrino, Giovanni; Castelnuovo, Efrem; Caggiano, Giovanni - 2021

We employ a nonlinear VAR framework and a state-of-the-art identification strategy to document the large response of real activity to a financial uncertainty shock during and in the aftermath of the great recession. We replicate this evidence with an estimated DSGE framework featuring a concept...

Persistent link: https://www.econbiz.de/10013235107

Does U.S. Monetary Policy Respond to Macroeconomic Uncertainty?

Gomez, Thomas; Piccillo, Giulia - 2023

We find that macroeconomic uncertainty plays a significant role in U.S. monetary policy. First, we construct a measure of uncertainty as felt by policymakers at the time of making their rate-setting decisions. This measure is derived from a real-time, Bayesian estimation of a small monetary VAR...

Persistent link: https://www.econbiz.de/10014357029

Business cycle dynamics of a new Keynesian overlapping generations model with progressive income taxation

Heer, Burkhard; Maußner, Alfred - 2006

In our dynamic optimizing sticky price model, agents are heterogeneous with regard to their age and their productivity. We find that the business cycle dynamics in the OLG model in response to both a technology shock and a monetary shock are similar, but not completely identical to those found...

Persistent link: https://www.econbiz.de/10010261430

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