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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

How monetary policy got behind the curve - and how to get back

Bordo, Michael D. (ed.); Cochrane, John H. (ed.); … - Monetary Policy Conference <14., 2022, Standford, Calif.> - 2023

"Proceedings from the 2022 Hoover Institution monetary policy conference examine recent inflation in the wake of fiscal and other shocks and measures by the Federal Reserve intended to counter inflation."

Persistent link: https://www.econbiz.de/10013460981

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

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

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

Getting monetary policy back on track

Admati, Anat R. - Monetary Policy Conference <2023, Stanford> - 2024

: still useful to get the Fed back on track / Volker Wieland -- Silicon Valley Bank and beyond : regulating for liquidity …-world lessons for first-world monetary policy / Anusha Chari and Peter Blair Henry -- Inflation targeting in Japan, 2013 …

Persistent link: https://www.econbiz.de/10014432541

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

Fiscal stimulus and the promise of future spending cuts : a comment

Wieland, Volker - 2009

Recent evaluations of the fiscal stimulus packages recently enacted in the United States and Europe such as Cogan, Cwik, Taylor and Wieland (2009) and Cwik and Wieland (2009) suggest that the GDP effects will be modest due to crowding-out of private consumption and investment. Corsetti, Meier...

Persistent link: https://www.econbiz.de/10003909368

Fiscal consolidation strategy

Cogan, John F.; Taylor, John B.; Wieland, Volker; … - 2012

In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP rose substantially from about 19.5 percent before the crisis to over 24 percent after the crisis. In...

Persistent link: https://www.econbiz.de/10009622444