Narrow search
Showing 1 - 10 of 941
Cover Image
Managing macrofinancial risk
Adrian, Tobias; Vitek, Francis - 2020
We augment a linearized dynamic stochastic general equilibrium (DSGE) model with a tractable endogenous risk mechanism, to support the joint analysis of monetary and macroprudential policy. This state dependent conditional heteroskedasticity mechanism specifies the conditional variances of...
Persistent link: https://www.econbiz.de/10012300643
Cover Image
Climate disaster risks : empirics and a multi-phase dynamic model
Mittnik, Stefan; Semmler, Willi; Haider, Alexander - 2019
Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback e?ects on the macroecon-omy. Research on disaster risks has...
Persistent link: https://www.econbiz.de/10012102117
Cover Image
Inflation Targeting Under Potential Output Uncertainty
Gaiduch, Victor - 2000
estimates have a high degree of uncertainty. In this paper, estimates of potential output uncertainty in New Zealand are used to … examine the output gap’s usefulness. The results suggest that although output gap uncertainty leads to more inflation and …
Persistent link: https://www.econbiz.de/10014403496
Cover Image
Some Implications for Monetary Policy of Uncertain Exchange Rate Pass-Through
Hunt, Ben - 2003
policy. From the policymaker''s perspective, uncertainty about exchange rate pass-through implies uncertainty about policy … multipliers and the impact of state variables on stabilization objectives. When faced with uncertainty about the strength of … than underestimating it. The analysis suggests that pass-through uncertainty of the magnitude considered does not result in …
Persistent link: https://www.econbiz.de/10014399681
Cover Image
Simple Monetary Policy Rules Under Model Uncertainty
Eliasson, Ann-Charlotte - 1999
Using stochastic simulations and stability analysis, the paper compares how different monetary rules perform in a moderately nonlinear model with a time-varying nonaccelerating-inflation-rate-of-unemployment (NAIRU). Rules that perform well in linear models but implicitly embody backward-looking...
Persistent link: https://www.econbiz.de/10014400173
Cover Image
Trade uncertainty and investment in the euro area
Ebeke, Christian; Siminitz, Jesse - 2018
We analyze the impact of trade policy uncertainty on investment in the euro area. Our identification strategy assumes … respect to trade uncertainty. We find that the investment-to-GDP ratio is on average 0.8 percentage points lower for five … quarters following a one standard deviation increase in the level of trade uncertainty. We demonstrate that these results are …
Persistent link: https://www.econbiz.de/10011978678
Cover Image
Shipping costs and inflation
Carrière-Swallow, Yan; Deb, Pragyan; Furceri, Davide; … - 2022
Persistent link: https://www.econbiz.de/10013169888
Cover Image
Emerging markets : prospects and challenges
Gudmundsson, Tryggvi; Kljuev, Vladimir Vladimirovič; … - 2022
This article documents recent developments in emerging markets in the context of the COVID-19 pandemic, assesses their prospects and challenges, and discusses appropriate policy settings for the medium term. It argues that EM policymakers' ability to grapple with an incomplete and uneven...
Persistent link: https://www.econbiz.de/10013170245
Cover Image
Dollar invoicing, global value chains, and the business cycle dynamics of international trade
Cook, David; Patel, Nikhil - 2022
Recent literature has highlighted that international trade is mostly priced in a few key vehicle currencies and is increasingly dominated by intermediate goods and global value chains (GVCs). Taking these features into account, this paper reexamines the relationship between monetary policy,...
Persistent link: https://www.econbiz.de/10013170273
Cover Image
Monetary policy frameworks : an index and new evidence
Unsal, D. Filiz; Papageorgiou, Chris; Garbers, Hendre - 2022
We provide a multidimensional characterization of monetary policy frameworks across three pillars: Independence and Accountability, Policy and Operational Strategy, and Communications (IAPOC). We construct the IAPOC index by analyzing central banks' laws and websites for 50 advanced economies,...
Persistent link: https://www.econbiz.de/10013170321