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Distributional effects of monetary policy in emerging market economies
Prasad, Eswar S.; Zhang, Boyang - 2015
We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...
Persistent link: https://www.econbiz.de/10011309046
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
uncertainty effects in investment decisions, e.g. by risk premia. … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate … whether uncertainty over future interest rates in the Euro area hampers monetary policy transmission. In this non-linear model …
Persistent link: https://www.econbiz.de/10012099559
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The impact of labor markets on the transmission of monetary policy in an estimated DSGE model
Christoffel, Kai (contributor); Kuester, Keith (contributor) - 2005
the conduct of stabilization policy. -- labor market ; wage rigidity ; bargaining ; Bayesian estimation …
Persistent link: https://www.econbiz.de/10003229297
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Interest rate hysteresis in macroeconomic investment under uncertainty
Belke, Ansgar; Göcke, Matthias - 2019
the scenarios of both certainty and uncertainty. We capture the direct interest rate-hysteresis on the investments and the … of a central bank's interest rate policy, e.g. in times of low or even zero interest rates and high uncertainty, in terms …
Persistent link: https://www.econbiz.de/10012099522
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Causal effects of monetary shocks : semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D. (contributor);  … - 2008
dependent data and allowing for first-step estimation of the propensity score. -- Monetary policy ; propensity score …
Persistent link: https://www.econbiz.de/10003739948
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Integrated macroeconomic production function for open economies : a new Schumpeterian Solow model for globalization
Welfens, Paul J. J. - 2016
important new insights for many fields: The estimation of the production potential in an open economy, growth decomposition …
Persistent link: https://www.econbiz.de/10011452235
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Counteracting unemployment in crises : non-linear effects of short-time work policy
Gehrke, Britta; Hochmuth, Brigitte - 2018
Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty to prevent layoffs. Many OECD countries have used this policy in the Great Recession. This paper shows that the effects of short-time work are strongly time dependent and...
Persistent link: https://www.econbiz.de/10011845664
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Transmission of US and EU economic policy uncertainty shock to Asian economies in bad and good times
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2020
Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate …
Persistent link: https://www.econbiz.de/10012226632
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Short-time work and precautionary savings
Dengler, Thomas; Gehrke, Britta - 2021
endogenous firing as well as a short-time work decision. In recessions, short-time work reduces the unemployment risk of workers …
Persistent link: https://www.econbiz.de/10012517675
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Deriving the new quantity equation : an approach for a closed and an open economy
Welfens, Paul J. J. - 2014
This theoretical contribution shows a simple way in which the quantity equation can be derived as a long-term equilibrium solution for the case of a closed economy and an open economy, respectively. It is shown first for the case of a closed economy which parameters stand behind "velocity" and...
Persistent link: https://www.econbiz.de/10010398774