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Proxy SVARs : asymptotic theory, bootstrap inference, and the effects of income tax changes in the United States
Jentsch, Carsten; Lunsford, Kurt G. - 2016
Persistent link: https://www.econbiz.de/10011549676
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Buffer-stock saving and households' response to income shocks
Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2017
contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …
Persistent link: https://www.econbiz.de/10011631291
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Monetary policy and uncertainty about the natural unemployment rate
Wieland, Volker - 2003
Inflation-targeting central banks have only imperfect knowledge about the effect of policy decisions on inflation. An important source of uncertainty is the relationship between inflation and unemployment. This paper studies the optimal monetary policy in the presence of uncertainty about the...
Persistent link: https://www.econbiz.de/10009765348
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Risk transfer with CDOs
Krahnen, Jan Pieter (contributor);  … - 2008
Modern bank management comprises both classical lending business and transfer of asset risk to capital markets through … securitization. Sound knowledge of the risks involved in securitization transactions is a prerequisite for solid risk management …. This paper aims to resolve a part of the opaqueness surrounding credit-risk allocation to tranches that represent claims of …
Persistent link: https://www.econbiz.de/10003750079
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Macroeconomic responses to uncertainty shocks : the perils of recursive orderings
Kilian, Lutz; Plante, Michael; Richter, Alexander W. - 2022
A common practice in empirical macroeconomics is to examine alternative recursive orderings of the variables in structural vector autogressive (VAR) models. When the implied impulse responses look similar, the estimates are considered trustworthy. When they do not, the estimates are used to...
Persistent link: https://www.econbiz.de/10014486599
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The American consumer : reforming, or just resting?
Carroll, Chris; Slacalek, Jirka - 2009
unemployment risk. We present measures of the size of these shocks and discuss what a benchmark theory says about their immediate …
Persistent link: https://www.econbiz.de/10003864307
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Insurance policies for monetary policy in the Euro area
Küster, Keith (contributor); Wieland, Volker (contributor) - 2005
Persistent link: https://www.econbiz.de/10003351530
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Complexity and monetary policy
Orphanides, Athanasios; Wieland, Volker - 2012
The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the state of the economy defines the monetary policy landscape. Using the euro area as laboratory this paper explores the design of robust policy guides aiming to maintain stability in...
Persistent link: https://www.econbiz.de/10009622453
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News and uncertainty about COVID-19 : survey evidence and short-run economic impact
Dietrich, Alexander M.; Küster, Keith; Müller, Gernot J. - 2020
Persistent link: https://www.econbiz.de/10012204659
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The real effects of reserve requirements
Bental, Benjamin; Eden, Benjamin - 1998
Persistent link: https://www.econbiz.de/10000679531