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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

Fitting Observed Inflation Expectations

Del Negro, Marco - 2010

This paper provides evidence on the extent to which inflation expectations generated by a standard Christiano et al. (2005)/Smets and Wouters (2003)-type DSGE model are in line with what is observed in the data. We consider three variants of this model that differ in terms of the behavior of,...

Persistent link: https://www.econbiz.de/10013135443

When Does a Central Bank's Balance Sheet Require Fiscal Support?

Del Negro, Marco - 2014

Using a simple general equilibrium model, we argue that it would be appropriate for a central bank with a large balance sheet composed of long-duration nominal assets to have access to, and be willing to ask for, support for its balance sheet by the fiscal authority. Otherwise its ability to...

Persistent link: https://www.econbiz.de/10013043485

Has monetary policy been so bad that it is better to get rid of it? : The case of Mexico

Del Negro, Marco; Obiols-Homs, Francesc - In: Journal of money, credit and banking : JMCB 33 (2001) 2,2, pp. 404-433

Persistent link: https://www.econbiz.de/10001580606

Comment on Has monetary policy been so bad that it is better to get rid of it? : The case of Mexico

Crucini, Mario J. - In: Journal of money, credit and banking : JMCB 33 (2001) 2/2, pp. 434-439

Persistent link: https://www.econbiz.de/10001585345

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

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

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

The FRBNY DSGE Model

Del Negro, Marco - 2013

The goal of this paper is to present the dynamic stochastic general equilibrium (DSGE) model developed and used at the Federal Reserve Bank of New York. The paper describes how the model works, how it is estimated, how it rationalizes past history, including the Great Recession, and how it is...

Persistent link: https://www.econbiz.de/10013074011

Time-Varying Structural Vector Autoregressions and Monetary Policy : A Corrigendum

Del Negro, Marco - 2013

This note corrects a mistake in the estimation algorithm of the time-varying structural vector autoregression model of Primiceri (2005) and proposes a new algorithm that correctly applies the procedure proposed by Kim, Shephard, and Chib (1998) to the estimation of VAR or DSGE models with...

Persistent link: https://www.econbiz.de/10013081874