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Monetary policy under a fiscal theory of sovereign default
Schabert, Andreas - 2009
This paper examines equilibrium determination under different monetary policy regimes when the government might default on its debt. We apply a cash-in-advance model where the government does not have access to non-distortionary taxation and does not account for initial outstanding debt when it...
Persistent link: https://www.econbiz.de/10011379355
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Monetary policy under a fiscal theory of sovereign default
Schabert, Andreas - 2009
Persistent link: https://www.econbiz.de/10003934105
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Federal reserve policy viewed through a money supply loss
Chowdhury, Ibrahim; Schabert, Andreas - 2008
Federal Reserve nonborrowed reserve supply systematically responded to changes in inflation and in the output gap over the period 1969-2000. While the feedback from output gap is always negative, the response of money supply to changes in inflation varies considerably across time. Nonborrowed...
Persistent link: https://www.econbiz.de/10011374418
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Money supply and the implementation of interest rate targets
Schabert, Andreas - 2005
In this paper, we analyze the relation between interest rate targets and money supply in a (bubble-free) rational expectations equilibrium of a standard cash-in-advance model. We examine lump-sum injections of money aimed to implement interest rate sequences that satisfy interest rate target...
Persistent link: https://www.econbiz.de/10011343954
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Forecasting value-at-risk under temporal and portfolio aggregation
Kole, Erik; Markwat, Thijs; Opschoor, Anne; Dijk, Dick van - 2015
We examine the impact of temporal and portfolio aggregation on the quality of Value-at-Risk (VaR) forecasts over a … based on asset class, or into a single portfolio. We compare the impact of aggregation to that of choosing a model for the … that the degree of temporal aggregation is most important. Daily returns form the best basis for VaR forecasts. Modelling …
Persistent link: https://www.econbiz.de/10011431503
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Forecasting aggregate productivity using information from firm-level data
Bartelsman, Eric J.; Wolf, Zoltán - 2009
This paper contributes to the productivity literature by using results from firm-level productivity studies to improve forecasts of macro-level productivity growth. The paper employs current research methods on estimating firm-level productivity to build times-series components that capture the...
Persistent link: https://www.econbiz.de/10011378362
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Aggregation bias in elasticities of substitution and the minimum wage paradox
Teulings, Coen N. - 1998
largely due to a bias induced by the aggregation of skill types into broad categories. An assignment model is applied where …
Persistent link: https://www.econbiz.de/10011299960
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Spatial economic-hydroecological modelling and evaluation of land use impacts in the Vecht wetlands area
Bergh, Jeroen C. J. M. van den; Barendregt, A.; … - 2000
Wetlands provide many important goods and services to human societies, and generate nonuse values as well. Wetlands are also very sensitive ecosystems that are subject to much stress from human activities. Reducing the stress on wetlands requires a spatial matching between physical planning,...
Persistent link: https://www.econbiz.de/10011302605
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The time-varying volatility of earnings and aggregate precautionary savings
Pozzi, Lorenzo - 2011
Persistent link: https://www.econbiz.de/10009720736
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Federal reserve policy viewed through a money supply lens
Chowdhury, Ibrahim; Schabert, Andreas - 2008
Persistent link: https://www.econbiz.de/10003690036