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Surprising comparative properties of monetary models : results from a new data base

Taylor, John B.; Wieland, Volker - 2009

Persistent link: https://www.econbiz.de/10003848421

Surprising comparative properties of monetary models : results from a new data base

Taylor, John B.; Wieland, Volker - 2009

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new data base of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...

Persistent link: https://www.econbiz.de/10003909186

A small estimated euro area model with rational expectations and nominal rigidities

Coenen, Günter - 2002

Persistent link: https://www.econbiz.de/10013424143

Quantitative easing : a rationale and some evidence from Japan

Wieland, Volker - 2009

of recent announcements regarding direct asset purchases by the Bank of England, the Bank of Japan, the U.S. Federal … Reserve and the European Central Bank. Empirical evidence from the previous period of quantitative easing in Japan between … 2001 and 2006 is presented. During this earlier period the Bank of Japan was able to expand the monetary base very quickly …

Persistent link: https://www.econbiz.de/10003947449

The zero-interest-rate and the role of the exchange rate for monetary policy in Japan

Coenen, Günter; Wieland, Volker - 2003

Persistent link: https://www.econbiz.de/10001757651

The zero-interest rate bound and the role of the exchange rate for monetary policy in Japan

Coenen, Günter - 2003

Persistent link: https://www.econbiz.de/10013424299

The zero-interest-rate and the role of the exchange rate for monetary policy in Japan

Coenen, Günter; Wieland, Volker - 2003

interest rates as experienced in Japan since the mid-1990s. Our analysis is based on an estimated model of Japan, the United … impact of the zero bound on the effectiveness of interest rate policy in Japan in terms of stabilizing output and inflation … the zero bound and evade a potential liquidity trap. Finally, we investigate the international consequences of these …

Persistent link: https://www.econbiz.de/10009765351

Keynesian government spending multipliers and spillovers in the euro area

Cwik, Tobias; Wieland, Volker - 2009

Persistent link: https://www.econbiz.de/10003879859

New Keynesian versus old Keynesian government spending multipliers

Cogan, John F.; Cwik, Tobias; Taylor, John B.; Wieland, … - 2009

Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. Because of modeling uncertainty, it is essential that policy evaluations be robust to alternative assumptions. We find that models currently being used in practice to evaluate fiscal policy...

Persistent link: https://www.econbiz.de/10003887419

Keynesian government spending multipliers and spillovers in the euro area

Cwik, Tobias J.; Wieland, Volker - 2009

The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of discretionary measures emphasize that government spending can stimulate additional private spending the so-called Keynesian multiplier effect. Thus, we investigate whether the discretionary...

Persistent link: https://www.econbiz.de/10003909359