Narrow search
Showing 1 - 10 of 4,626
Cover Image
Estimated general equilibrium models for the evaluation of monetary policy in the US and Europe
Leith, Campbell B.; Malley, James R. - 2002
of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …
Persistent link: https://www.econbiz.de/10011409738
Cover Image
Business cycle dynamics of a new Keynesian overlapping generations model with progressive income taxation
Heer, Burkhard (contributor); Maußner, Alfred (contributor) - 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/10003301356
Cover Image
Policy risk and the business cycle
Born, Benjamin; Pfeifer, Johannes - 2013 - This version: July 11, 2013, First Version: December 2010
The argument that policy risk, i.e., uncertainty about monetary and fiscal policy, has been holding back the economic recovery in the U.S. during the Great Recession has a large popular appeal. We analyze the role of policy risk in explaining business cycle fluctuations by using an estimated New...
Persistent link: https://www.econbiz.de/10009772961
Cover Image
Positive trend inflation and determinacy in a medium-sized new keynesian model
Arias, Jonas E.; Ascari, Guido; Branzoli, Nicola; … - 2018
This paper studies the challenge that increasing the inflation target poses to equilibrium determinacy in a medium …-sized New Keynesian model without indexation fitted to the Great Moderation era. For moderate targets of the inflation rate …
Persistent link: https://www.econbiz.de/10011864684
Cover Image
The price puzzle revisited : can the cost channel explain a rise in inflation after a monetary policy shock?
Henzel, Steffen; Hülsewig, Oliver; Mayer, Eric; … - 2007
Persistent link: https://www.econbiz.de/10003499532
Cover Image
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 … updated according to the actual inflation process, with indexed wages, and persistent inflation shocks. In these cases, a more …
Persistent link: https://www.econbiz.de/10014478734
Cover Image
Inflation surprises in a New Keynesian economy with a true consumption function
Tamborini, Roberto - 2022
The resurgence of inflation since the late 2021 is now accompanied by a reversal of prospects of growth, reviving fears … prominent role is played by the fall of households' purchasing power, and hence consumption, owing to the inflation shock visà … inflation surprises, independent of restrictive monetary policy, is not present in the standard New Keynesian models for …
Persistent link: https://www.econbiz.de/10013482593
Cover Image
Monetary policy and the relative price of durable goods
Cantelmo, Alessandro; Melina, Giovanni - 2015
In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These findings survive three identification strategies and...
Persistent link: https://www.econbiz.de/10010515460
Cover Image
Secular stagnation : insights from a new Keynesian model with hysteresis effects
Aarle, Bas van - 2016
To analyse the most important aspects of the Secular Stagnation hypothesis, this paper considers the effects of hysteresis in potential output in a New-Keynesian model that is extended with endogenous potential output. To do so, a number of simulations of relevant scenarios is undertaken. It is...
Persistent link: https://www.econbiz.de/10011444072
Cover Image
Q-targeting in new Keynesian models
Heer, Burkhard; Maußner, Alfred; Ruf, Halvor - 2016
interest rate is set as a function of the deviation of the inflation rate from its target rate, the output gap, and Tobin's q …
Persistent link: https://www.econbiz.de/10011451285