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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
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The Impact of Introducing a Minimum Wageon Business Cycle Volatility : A Structural Analysis for Hong Kong SAR
International Monetary Fund - 2008
We study the impact of a minimum wage on business cycle volatility, depending upon its coverage and adjustment … affecting 20 percent of employees would amplify output volatility by 0.2 percent to 9.2 percent, and employment volatility by ?1 ….2 percent to 7.8 percent. A fixed wage or indexation to consumption price inflation increases volatility most. Indexation to …
Persistent link: https://www.econbiz.de/10014401464
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The sources of business cycles in a low income country
Houssa, Romain; Mohimont, Jolan; Otrok, Christopher M. - 2015
Persistent link: https://www.econbiz.de/10011281912
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Financial frictions and sources of business cycle
Taheri Sanjani, Marzie - 2014
Persistent link: https://www.econbiz.de/10010441930
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Financial Frictions and Sources of Business Cycle
Taheri Sanjani, Marzie - 2014
shocks play a greater role in explaining the volatility of macroeconomic variables than marginal efficiency of investment …
Persistent link: https://www.econbiz.de/10014411687
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Shock from graying : is the demographic shift weakening monetary policy effectiveness
Imam, Patrick - 2013
effectiveness may moderate in graying societies. It then uses Bayesian estimation techniques for the U.S., Canada, Japan, U.K., and …
Persistent link: https://www.econbiz.de/10012667511
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Transitory and permanent shocks in the global market for crude oil
Rebei, Nooman; Sbia, Rashid - 2020
This paper documents the determinants of real oil price in the global market based on SVAR model embedding transitory and permanent shocks on oil demand and supply as well as speculative disturbances. We find evidence of significant differences in the propagation mechanisms of transitory versus...
Persistent link: https://www.econbiz.de/10012251290
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Vietnam : Bayesian Estimation of Output Gap
Maliszewski, Wojciech - 2010
The paper constructs a new output gap measure for Vietnam by applying Bayesian methods to a two-equation AS-AD model, while treating the output gap as an unobservable series to be estimated together with other parameters. Model coefficients are easily interpretable, and the output gap series is...
Persistent link: https://www.econbiz.de/10014402999
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Trading on their terms? : commodity exporters in the aftermath of the commodity boom
Aslam, Aqib; Beidas-Strom, Samya; Bems, Rudolfs; … - 2016
Commodity prices have declined sharply over the past three years, and output growth has slowed considerably among countries that are net exporters of commodities. A critical question for policy makers in these economies is whether commodity windfalls influence potential output. Our analysis...
Persistent link: https://www.econbiz.de/10011435808
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Idiosyncratic shocks and aggregate fluctuations in an emerging market
Grigoli, Francesco; Luttini, Emiliano; Sandri, Damiano - 2021
than 40 percent of the volatility of aggregate sales. Although quite large, this contribution is smaller than documented in …
Persistent link: https://www.econbiz.de/10012795043