Narrow search
Showing 1 - 10 of 87
Cover Image
Anticipated and unanticipated fiscal shocks in an estimated DSGE model for the Brazilian economy
Cavalcanti, Marco Antônio Freitas de Hollanda; Vereda, … - 2023
a relatively detailed public sector, which allows us to investigate the effects of anticipation for a much wider array … such as public investment, employment, and transfers. Instead of fixing in advance the degree of anticipation of fiscal … anticipation varies between only one and two quarters, depending on the fiscal instrument. …
Persistent link: https://www.econbiz.de/10014428792
Cover Image
Economic theories and macroeconomic reality
Loria, Francesca; Matthes, Christian; Wang, Mu-Chun - 2021
Economic theories are often encoded in equilibrium models that cannot be directly estimated because they lack features that, while inessential to the theoretical mechanism that is central to the specific theory, would be essential to fit the data well. We propose an econometric approach that...
Persistent link: https://www.econbiz.de/10012792815
Cover Image
Pandemic recessions and contact tracing
Melosi, Leonardo; Rottner, Matthias - 2021
We study contact tracing in a new macro-epidemiological model in which infected agents may not show any symptoms of the disease and the availability of tests to detect asymptomatic spreaders is limited. Contact tracing is a testing strategy that aims to reconstruct the infection chain of newly...
Persistent link: https://www.econbiz.de/10012628001
Cover Image
International Transmission of Environmental Policy: A New Keynesian Perspective
Ganelli, Giovanni; Tervala, Juha - 2010
In this paper we examine the international transmission of environmental policy using a New Keynesian model of the global economy. We first consider the case in which the quality of the environment affects utility, but not productivity. This allows us to look at the trade-off between...
Persistent link: https://www.econbiz.de/10012503012
Cover Image
Labor productivity, effort and the euro area business cycle
Lewis, Vivien; Villa, Stefania; Wolters, Maik H. - 2019
The Euro Area is characterized by little variation in unemployment and strongly procyclical labor productivity. We capture both characteristics in a New Keynesian business cycle model with labor search frictions, where labor can vary along three margins: employment, hours, and effort. We...
Persistent link: https://www.econbiz.de/10012134398
Cover Image
Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus
Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020
We explore the effects of the ECB's unconventional monetary policy on the banks' sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy shocks,...
Persistent link: https://www.econbiz.de/10012197879
Cover Image
The pricing behaviour of UK firms
Batini, Nicoletta; Jackson, Brian; Nickell, Stephen J. - 2002
Industrial prices of goods and services are a function of costs of production and of the mark-up that firms apply on those costs. If these prices relate to goods that are traded internationally, they will also be influenced by the price at which those goods are exchanged in international...
Persistent link: https://www.econbiz.de/10011517928
Cover Image
The global credit boom : challenges for macroeconomics and policy
Hume, Michael; Sentance, Andrew - 2009
The recent financial crisis has put the spotlight on the rapid rise in credit which preceded it. In this paper, we provide an empirical and theoretical analysis of the credit boom and the macroeconomic context in which it developed. We find that the boom was unusually long and associated with...
Persistent link: https://www.econbiz.de/10003843801
Cover Image
International comovements, business cycle and inflation: a historical perspective
Mumtaz, Haroon; Simonelli, Saverio; Surico, Paolo - 2009
Using a dynamic factor model, we uncover four main empirical regularities on international comovements in a long …-run panel of real and nominal variables. First, the contribution of world comovements to domestic output growth has decreased … over the post-WWII period. The contribution of regional comovements, however, has increased significantly. Second, the …
Persistent link: https://www.econbiz.de/10003882168
Cover Image
Employment, hours and optimal monetary policy
Dossche, Maarten; Lewis, Vivien; Poilly, Céline - 2015
We characterize optimal monetary policy in a New Keynesian search-and-matching model where multiple-worker firms satisfy demand in the short run by adjusting hours per worker. Imperfect product market competition and search frictions reduce steady state hours per worker below the efficient...
Persistent link: https://www.econbiz.de/10010471629