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Subjective Intertemporal Substitution
Crump, Richard K. - 2020
We estimate the elasticity of intertemporal substitution (EIS)—the response of expected consumption growth to changes …). This unique data set allows us to estimate the consumption Euler equation with no auxiliary assumptions on the properties … with the results of much of the literature. In addition, planned consumption displays excess sensitivity to expected income …
Persistent link: https://www.econbiz.de/10012856136
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Coordinating monetary and macroprudential policies
De Paoli, Bianca; Paustian, Matthias - In: Journal of money, credit and banking : JMCB 49 (2017) 2/3, pp. 319-349
Persistent link: https://www.econbiz.de/10011708022
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On the international dimension of fiscal policy
Benigno, Gianluca; De Paoli, Bianca - In: Journal of money, credit and banking : JMCB 42 (2010) 8, pp. 1523-1542
Persistent link: https://www.econbiz.de/10008823669
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Three lessons for monetary policy in a low-inflation era
Reifschneider, David Leon; Williams, John C. - In: Journal of money, credit and banking : JMCB 32 (2000) 4,2, pp. 936-966
Persistent link: https://www.econbiz.de/10001537696
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Inflation band targeting and optimal inflation contracts
Mishkin, Frederic S.; Westelius, Niklas J. - In: Journal of money, credit and banking : JMCB 40 (2008) 4, pp. 557-582
Persistent link: https://www.econbiz.de/10003714478
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Globalization, macroeconomic performance, and monetary policy
Mishkin, Frederic S. - In: Journal of money, credit and banking : JMCB 41 (2009), pp. 187-196
Persistent link: https://www.econbiz.de/10003807835
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Coordinating Monetary and Macroprudential Policies
De Paoli, Bianca - 2013
The financial crisis has prompted macroeconomists to think of new policy instruments that could help ensure financial stability. Policymakers are interested in understanding how these should be set in conjunction with monetary policy. We contribute to this debate by analyzing how monetary and...
Persistent link: https://www.econbiz.de/10013072899
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Monetary Policy Frameworks and the Effective Lower Bound on Interest Rates
Mertens, Thomas M. - 2019
This paper applies a standard New Keynesian model to analyze the effects of monetary policy in the presence of a low natural rate of interest and a lower bound on interest rates. Under a standard inflation-targeting approach, inflation expectations will be anchored at a level below the inflation...
Persistent link: https://www.econbiz.de/10012867264
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Tying Down the Anchor : Monetary Policy Rules and the Lower Bound on Interest Rates
Mertens, Thomas M. - 2019
This paper uses a standard New Keynesian model to analyze the effects and implementation of various monetary policy frameworks in the presence of a low natural rate of interest and a lower bound on interest rates. Under a standard inflation-targeting approach, inflation expectations will be...
Persistent link: https://www.econbiz.de/10012871223
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Monetary policy under alternative asset market structures : the case of a small open economy
De Paoli, Bianca - In: Journal of money, credit and banking : JMCB 41 (2009) 7, pp. 1301-1330
Persistent link: https://www.econbiz.de/10003887113