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Learning from prices: Amplification and business fluctuations
Chahrour, Ryan; Gaballo, Gaetano - 2017
We provide a new theory of expectations-driven business cycles in which consumers' learning from prices dramatically … alters the effects of aggregate shocks. Learning from prices causes changes in aggregate productivity to shift aggregate …
Persistent link: https://www.econbiz.de/10011804368
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Can more public information raise uncertainty? The international evidence on forward guidance
Ehrmann, Michael; Gaballo, Gaetano; Hoffmann, Peter; … - 2019
Central banks have used different types of forward guidance, where the forward guidance horizon is related to a state contingency, a calendar date or left open-ended. This paper reports cross-country evidence on the impact of these different types of forward guidance on the sensitivity of bond...
Persistent link: https://www.econbiz.de/10012142108
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Learning from Prices : Amplification and Business Fluctuations
Chahrour, Ryan - 2017
We provide a new theory of expectations-driven business cycles in which consumers' learning from prices dramatically … alters the effects of aggregate shocks. Learning from prices causes changes in aggregate productivity to shift aggregate …
Persistent link: https://www.econbiz.de/10012956266
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Can More Public Information Raise Uncertainty? The International Evidence on Forward Guidance
Ehrmann, Michael - 2019
Central banks have used different types of forward guidance, where the forward guidance horizon is related to a state contingency, a calendar date or left open-ended. This paper reports cross-country evidence on the impact of these different types of forward guidance on the sensitivity of bond...
Persistent link: https://www.econbiz.de/10012872234
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Inflation and inflation uncertainty in the euro area
Caporale, Guglielmo Maria; Paesani, Paolo; Onorante, Luca - 2010
This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the euro area, and investigates their linkages in a VAR framework, also allowing for the possible impact of the policy regime change associated with the start of EMU in 1999. The main...
Persistent link: https://www.econbiz.de/10011605275
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Inflation and Inflation Uncertainty in the Euro Area
Caporale, Guglielmo Maria - 2010
This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the euro area, and investigates their linkages in a VAR framework, also allowing for the possible impact of the policy regime change associated with the start of EMU in 1999. The main...
Persistent link: https://www.econbiz.de/10013141028