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Behavioral heterogeneity in US inflation dynamics
Cornea, Adriana; Hommes, Cars H.; Massaro, Domenico - 2013
Persistent link: https://www.econbiz.de/10010191432
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An empirical assessment of the U.S. Phillips curve over time
Vlekke, Marente; Koopman, Siem Jan; Mellens, Martin C. - 2021
the Phillips curve over time. We consider different specifications and different measures for inflation. Furthermore, we … include stochastic volatility for the observation errors. Our estimation results are based on practical Bayesian state space ….S. headline inflation has remained empirically relevant over the years. …
Persistent link: https://www.econbiz.de/10012665848
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Regional price adjustment in a monetary union
Berk, Jan Marc; Swank, Job - 2002
, notwithstanding that inflation in some countries tends to converge towards the euro area level. Overa11, inflation persistence has …
Persistent link: https://www.econbiz.de/10011327545
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The effects of learning in interactive monetary policy committees
Berk, Jan Marc; Bierut, Beata K. - 2004
We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting...
Persistent link: https://www.econbiz.de/10011334835
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New economy, old central banks?
Berk, Jan Marc - 2002
Proponents of the so-called New Economy claim that it entails a structural change of the economy. Such a change, in turn, would require the central bank to rethink its monetary policy to the extent that traditional relationships between inf1ation and economic growth are no longer valid. But such...
Persistent link: https://www.econbiz.de/10011327535
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What option prices tell us about the ECB's unconventional monetary policies
Olijslagers, Stan; Petersen, Annelie; Vette, Nander de; … - 2018
We use a series of different approaches to extract information about crash risk from option prices for the Euro-Dollar exchange rate, with each step sharpening the focus on extracting more specific measures of crash risk around dates of ECB measures of Unconventional Monetary Policy. Several...
Persistent link: https://www.econbiz.de/10011940034
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Unobserved components with stochastic volatility in U.S. inflation : estimation and signal extraction
Li, Mengheng; Koopman, Siem Jan - 2018
the observed time series. We develop a simulated maximum likelihood estimation method based on importance sampling and … applied to quarterly and monthly US inflation in an empirical study. We find that the persistence of quarterly inflation has … and density forecasts for monthly US inflation. …
Persistent link: https://www.econbiz.de/10011809984
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Posterior-predictive evidence on US inflation using Philips curve models with non-filtered time series
Basturk, Nalan; Çakmaklı, Cem; Ceyhan, Pinar; Dijk, … - 2013
Persistent link: https://www.econbiz.de/10009724100
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Time-varying degree of wage indexation and the New Keynesian Wage Phillips Curve
Attey, Jonathan A. - 2016
is subsequently shown that variations in trend inflation significantly explain variations in the degree of wage …
Persistent link: https://www.econbiz.de/10011563079
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Posterior-predictive evidence on US inflation using extended Philips curve models with non-filtered data
Basturk, Nalan; Çakmaklı, Cem; Ceyhan, Pinar; Dijk, … - 2013
Persistent link: https://www.econbiz.de/10010191387