Showing 1 - 9 of 9
The purpose of this paper is to investigate the empirical performance of the standard New Keynesian dynamic stochastic general equilibrium (DSGE) model in its usual form with full-information rational expectations and compare it with versions assuming inattentiveness- namely sticky information...
Persistent link: https://www.econbiz.de/10013177225
We add the Bernanke-Gertler-Gilchrist model to a modified version of the Smets-Wouters model of the US in order to explore the causes of the banking crisis. We test the model against the data on HP-detrended data and reestimate it by indirect inference; the resulting model passes the Wald test on...
Persistent link: https://www.econbiz.de/10009563557
We add the Bernanke-Gertler-Gilchrist model to a world model consisting of the US, the Eurozone and the Rest of the …
Persistent link: https://www.econbiz.de/10009738907
The downturn in the world economy following the global banking crisis has left the Chinese economy relatively unscathed. This paper develops a model of the Chinese economy using a DSGE framework with a banking sector to shed light on this episode. It differs from other applications in the use of...
Persistent link: https://www.econbiz.de/10009738893
We fit the logistic function, the reduced form of epidemic behaviour, to the data for deaths from Covid-19, for a wide …
Persistent link: https://www.econbiz.de/10012229838
This paper gives money a role in providing cheap collateral in a model of banking; besides the Taylor Rule, monetary policy can affect the risk-premium on bank lending to firms by varying the supply of M0, so at the zero bound monetary policy is effective; fiscal policy crowds out investment via...
Persistent link: https://www.econbiz.de/10010429162
We investigate whether the Fiscal Theory of the Price Level (FTPL) can explain UK inflation in the 1970s. We confront the identification problem involved by setting up the FTPL as a structural model for the episode and pitting it against an alternative Orthodox model; the models have a reduced...
Persistent link: https://www.econbiz.de/10010413736
We estimate the short run effects of Brexit border disruption on the UK economy. We estimate a structural VAR for the UK where Brexit effects are identified by the dates of Brexit events, the referendum and the exit from the single market. We find evidence of short run effects of Brexit:...
Persistent link: https://www.econbiz.de/10014434632
Persistent link: https://www.econbiz.de/10001946101