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When should central banks fear inflation expectations?

Gobbi, Lucio; Mazzocchi, Ronny; Tamborini, Roberto - 2024

When inflation picks up, central banks are most concerned that the de-anchoring of inflation expectations and the ignition of wage-price spirals will trigger inflation dynamic instability. However, such scenarios do not materialize in the standard New Keynesian theoretical framework for monetary...

Persistent link: https://www.econbiz.de/10014478734

The matching process : search or mismatch?

Gottfries, Nils; Stadin, Karolina - 2017

We examine the matching process using monthly panel data for local labour markets in Sweden. We find that an increase in the number of vacancies has a weak effect on the number of unemployed workers being hired: unemployed workers appear to be unable to compete for many available jobs. Vacancies...

Persistent link: https://www.econbiz.de/10011588051

Monetary policy in a data-rich environment

Bernanke, Ben; Boivin, Jean - 2001

Persistent link: https://www.econbiz.de/10001596114

Empirical analysis of policy interventions

Leeper, Eric M.; Zha, Tao - 2002

Persistent link: https://www.econbiz.de/10001683301

Can central banks target bond prices?

Kuttner, Kenneth N. - 2006

Persistent link: https://www.econbiz.de/10003366334

Generalizing the Taylor principle

Davig, Troy; Leeper, Eric M. - 2005

Persistent link: https://www.econbiz.de/10003259890

The liquidity channel of fiscal policy

Bayer, Christian; Born, Benjamin; Luetticke, Ralph - 2020

—the liquidity premium. We rationalize this finding in an estimated heterogeneous-agent New-Keynesian (HANK) model with incomplete … markets and portfolio choice, in which public debt affects private liquidity. In this environment, the short-run fiscal … multiplier is amplified by the countercyclical liquidity premium. This liquidity channel stabilizes investment and crowds in …

Persistent link: https://www.econbiz.de/10012231567

Subjective models of the macroeconomy : evidence from experts and a representative sample

Andre, Peter; Pizzinelli, Carlo; Roth, Christopher; … - 2019

We propose a method to measure people's subjective models of the macroeconomy. Using a sample of 2,200 households representative of the US population and a sample of more than 1,000 experts, we measure beliefs about how the unemployment rate and the inflation rate respond to four different...

Persistent link: https://www.econbiz.de/10012104048

What do central bankers do? : evidence from the European Central Bank's Executive Board

Badinger, Harald; Nitsch, Volker - 2019

This paper examines how managers at the top of a public institution, central bank executives, allocate their working time. Using detailed information from personal diaries of the six members of the European Central Bank's Executive Board over a period of two years, we codify and analyze more...

Persistent link: https://www.econbiz.de/10011962284

Macroeconomic shocks and racial labour market differences in the U.S.

De, Kuhelika; Compton, Ryan A.; Giedeman, Daniel C.; … - 2019

Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...

Persistent link: https://www.econbiz.de/10012157899