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Cyclical risk aversion, precautionary saving and monetary policy
De Paoli, Bianca; Zabczyk, Pawel - 2012
Persistent link: https://www.econbiz.de/10009724922
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The transmission of monetary policy operations through redistributions and durable purchases
Sterk, Vincent; Tenreyro, Silvana - 2013
Persistent link: https://www.econbiz.de/10010340470
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Spillovers and spillbacks
Acharya, Sushant; Pesenti, Paolo A. - 2024
Keynesian model. Relative to Representative Agent (RANK) models, our framework introduces a precautionary-savings channel, as … households in both countries face uninsurable income risk, and a real-income channel, as households have heterogeneous marginal … propensities to consume (MPC). While both channels amplify the size of spillovers/spillbacks, only precautionary savings can change …
Persistent link: https://www.econbiz.de/10014501129
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Portfolio allocation and international risk sharing
Benigno, Gianluca; Küçük-Tuger, Hande - 2011
Recent contributions have shown that it is possible to account for the so-called consumptionreal exchange anomaly in models with goods market frictions where international asset trade is limited to a riskless bond. In this paper, we consider a more realistic international asset market structure...
Persistent link: https://www.econbiz.de/10008988794
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Uncertain potential output : implications for monetary policy
Ehrmann, Michael - 2001
Persistent link: https://www.econbiz.de/10013434349
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Non-standard central bank loss functions, skewed risks, and certainty equivalance
Al-Nowaihi, Ali - 2002
Persistent link: https://www.econbiz.de/10013434451
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Modeling model uncertainty : international seminar on macroeconomics
Onatski, Alexei - 2002
Persistent link: https://www.econbiz.de/10013434492
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International monetary policy coordination and financial market integration
Sutherland, Alan - 2002
Persistent link: https://www.econbiz.de/10013434500
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The optimal supply of central bank reserves under uncertainty
Afonso, Gara; La Spada, Gabriele; Mertens, Thomas; … - 2023 - Revised December 2023
This paper provides an analytically tractable theoretical framework to study the optimal supply of central bank reserves when the demand for reserves is uncertain and nonlinear. We fully characterize the optimal supply of central bank reserves and associated market equilibrium. We find that the...
Persistent link: https://www.econbiz.de/10014426250
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Uncertainty about QE effects when an interest rate peg is anticipated
Gerke, Rafael; Giesen, Sebastian; Kienzler, Daniel - 2018
After hitting the lower bound on interest rates, the Eurosystem engaged in a public sector purchase programme (PSPP) and forward guidance (FG). We use prior and posterior predictive analysis to evaluate the importance of parameter uncertainty in an analysis of these policies. We model FG as an...
Persistent link: https://www.econbiz.de/10011846905