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Monetary Policy and Potential Output Uncertainty : A Quantitative Assessment
Delle Chiaie, Simona - 2012
I estimate a dynamic stochastic general equilibrium model where the policymaker and the private sector have imperfect knowledge about potential output. The estimation of the structural parameters and of the monetary authorities' objectives is key to assess the quantitative relevance of the...
Persistent link: https://www.econbiz.de/10013116556
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Central Bank Liquidity Provision, Risk-Taking and Economic Efficiency
Bindseil, Ulrich - 2013
riskiness of counter parties and issuers is endogenous to the central bank's credit policies and related risk control framework …
Persistent link: https://www.econbiz.de/10013083125
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Uncertainty Shocks, Banking Frictions and Economic Activity
Bonciani, Dario - 2015
In this paper we investigate the effects of uncertainty shocks on economic activity in the euro area by using a Dynamic Stochastic General Equilibrium (DSGE) model with heterogenous agents and a stylized banking sector. We show that frictions in credit supply amplify the effects of uncertainty...
Persistent link: https://www.econbiz.de/10013019593
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Risk Management in Action - Robust Monetary Policy Rules under Structured Uncertainty
Levine, Paul; McAdam, Peter; Pearlman, Joseph; Pierse, … - 2021
Recent interest in 'Risk Management' has highlighted the relevance of Bayesian analysis for robust monetary …
Persistent link: https://www.econbiz.de/10013316594
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Risk sharing and real exchange rates : the role of non-tradable sector and trend shocks
Akkoyun, Hüseyin Çağrı; Arslan, Yavuz; Kılınç, … - 2017
Persistent link: https://www.econbiz.de/10011613499
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Risk endogeneity at the lender/investor-of-last-resort
Caballero, Diego; Lucas, André; Schwaab, Bernd; Zhang, Xin - 2019
Persistent link: https://www.econbiz.de/10011981369
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Risk Sharing and Monetary Policy Transmission
Hauptmeier, Sebastian; Holm-Hadulla, Federic; Renault, … - 2022
Using regionally disaggregated data on economic activity, we show that risk sharing plays a key role in shaping the … real effects of monetary policy. With weak risk sharing, monetary policy shocks trigger a strong and durable response in … output. With strong risk sharing, the response is attenuated, and output reverts to its initial level over the medium term …
Persistent link: https://www.econbiz.de/10014242298
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Optimal inflation with corporate taxation and financial constraints
Finocchiaro, Daria; Lombardo, Giovanni; Mendicino, Caterina - 2015
Persistent link: https://www.econbiz.de/10011436009
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Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model
Schmitt-Grohé, Stephanie; Uribe, Martín - 2021
In this paper, we study Ramsey-optimal fiscal and monetary policy in a medium-scale model of the U.S. business cycle. The model features a rich array of real and nominal rigidities that have been identified in the recent empirical literature as salient in explaining observed aggregate...
Persistent link: https://www.econbiz.de/10013317651
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Check in the Mail or More in the Paycheck : Does the Effectiveness of Fiscal Stimulus Depend on How it is Delivered?
Sahm, Claudia - 2011
Recent fiscal policies have aimed to stimulate household spending. In 2008, most households received one-time economic stimulus payments. In 2009, most working households received the Making Work Pay tax credit in the form of reduced withholding; other households, mainly retirees, received...
Persistent link: https://www.econbiz.de/10013130153