Narrow search
Showing 1 - 10 of 1,862
Cover Image
Credit, financial conditions and the business cycle in China
Lodge, David; Soudan, Michel - 2019
This paper presents empirical evidence of the role of financial conditions in China's business cycle. We estimate a Bayesian-VAR for the Chinese economy, incorporating a financial conditions index for China that captures movements across a range of financial variables, including interest rates...
Persistent link: https://www.econbiz.de/10012142088
Cover Image
Asset Market Participation, Monetary Policy Rules and the Great Inflation
Bilbiie, Florin - 2015
hypothesis, and study the relative merits of changes in structure and shocks for reproducing the conquest of the Great Inflation …
Persistent link: https://www.econbiz.de/10013036907
Cover Image
Mitigating the forward guidance puzzle: Inattention, credibility, finite planning horizons and learning
De Groot, Oliver; Mazelis, Falk - 2020
using existing macroeconomic models by modifying expectations about policy announcements. The main advantage of our method …
Persistent link: https://www.econbiz.de/10012422088
Cover Image
Money in monetary policy design: Monetary cross-checking in the New-Keynesian model
Wieland, Volker; Beck, Günter W. - 2010
criticized for failing to explain common trends in money growth and inflation, and that therefore money should be used as a cross …-check is shown to be effective in offsetting persistent deviations of inflation due to central bank misperceptions. …
Persistent link: https://www.econbiz.de/10011605237
Cover Image
Money, credit, monetary policy and the business cycle in the euro area: What has changed since the crisis?
Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2019
This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and...
Persistent link: https://www.econbiz.de/10012142070
Cover Image
The ECB's New Multi-Country Model for the Euro Area : NMCM - With Boundedly Rational Learning Expectations
Dieppe, Alistair - 2011
Rational expectations has been the dominant way to model expectations, but the literature has quickly moved to a more … their expectations. A standard assumption is that agents form expectations by using the correctly specified reduced form … included. Therefore, agents base expectations on a misspecified MSV solution. In contrast, we assume agents know the deep …
Persistent link: https://www.econbiz.de/10013128293
Cover Image
Forecasting and stress testing with quantile vector autoregression
Chavleishvili, Sulkhan; Manganelli, Simone - 2019
We introduce a structural quantile vector autoregressive (VAR) model. Unlike standard VAR which models only the average interaction of the endogenous variables, quantile VAR models their interaction at any quantile. We show how to estimate and forecast multivariate quantiles within a recursive...
Persistent link: https://www.econbiz.de/10012142174
Cover Image
Credit, Financial Conditions and the Business Cycle in China
Lodge, David - 2019
This paper presents empirical evidence of the role of financial conditions in China's business cycle. We estimate a Bayesian-VAR for the Chinese economy, incorporating a financial conditions index for China that captures movements across a range of financial variables, including interest rates...
Persistent link: https://www.econbiz.de/10012892473
Cover Image
Forecasting and Stress Testing with Quantile Vector Autoregression
Chavleishvili, Sulkhan - 2019
We introduce a structural quantile vector autoregressive (VAR) model. Unlike standard VAR which models only the average interaction of the endogenous variables, quantile VAR models their interaction at any quantile. We show how to estimate and forecast multivariate quantiles within a recursive...
Persistent link: https://www.econbiz.de/10012859199
Cover Image
Asset market participation, monetary policy rules and the great inflation
Bilbiie, Florin O.; Straub, Roland - 2012
hypothesis, and study the relative merits of changes in structure and shocks for reproducing the conquest of the Great Inflation …
Persistent link: https://www.econbiz.de/10011605483