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Assessing Australian Monetary Policy in the Twenty-First Century

Gross, Isaac; Leigh, Andrew - 2022

Using the Reserve Bank of Australia's MARTIN model we compare actual monetary policy decisions to a counterfactual in which the cash rate is set according to an optimal simple rule. We find that monetary policy played a crucial role in avoiding a potential recession in 2001 and mitigating the...

Persistent link: https://www.econbiz.de/10013426410

Macroeconomic impacts of Canadian immigration: Results from a macro-model

Dungan, Peter; Fang, Tony; Gunderson, Morley - 2012

We use a macro-econometric forecasting model to simulate the impact on the Canadian economy of a hypothetical increase in immigration. Our simulations generally yield positive impacts on such factors as real GDP and GDP per capita, aggregate demand, investment, productivity, and government...

Persistent link: https://www.econbiz.de/10010287634

Price Dynamics and Production Lags

Lindbeck, Assar; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 1999

This paper provides a new explanation of why inflation is sluggish in response to aggregate demand shocks and why aggregate output changes as result of such shocks. We argue that these phenomena are related to lags between inputs and outputs in the production process, "production lags" for...

Persistent link: https://www.econbiz.de/10005702997

On Measuring Uncertainty: Snakes and Ladders

Junankar, Pramod N. (Raja) - 2016

surge in the stock market would be self-correcting. Recent papers have discussed the role of "uncertainty" and its … measurement in influencing economic decisions. They attempt to measure uncertainty by indexes of volatility of the stock market …, GDP, forecaster disagreement, mentions of uncertainty in news media, and the dispersion of productivity shocks to firms …

Persistent link: https://www.econbiz.de/10011559672

Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment: Evidence for the Euro Area

Belke, Ansgar H.; Frenzel Baudisch, Coletta; Göcke, … - 2019

impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate … whether uncertainty over future interest rates in the Euro area hampers monetary policy transmission. In this non-linear model … uncertainty into the regressions, the results do not change much which may be due to the interest rate implicitly incorporating …

Persistent link: https://www.econbiz.de/10012141204

New Moneys under the New Normal? Bitcoin and Gold Interdependence during COVID Times

Agnese, Pablo; Thoss, Jonathan - 2021

against market uncertainty—we believe this is a very timely conclusion given the pervasive uncertainty that dominates post …

Persistent link: https://www.econbiz.de/10012597469

Evaluating Welfare and Economic Effects of Raised Fertility

Makarski, Krzysztof; Tyrowicz, Joanna; Malec, Magda - 2019

Many countries consider rising fertility through pro-family policies as a solution to the fiscal pressure stemming from longevity. However, an increased number of births implies immediate private costs and only delayed public benefits of younger and larger population. We propose using an...

Persistent link: https://www.econbiz.de/10012005973

Inequality in an OLG Economy with Heterogeneous Cohorts and Pension Systems

Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - 2018

We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features within cohort heterogeneity of endowments and heterogeneity of preferences. We allow for population aging and gradual decline in TFP growth. We show four main results. First,...

Persistent link: https://www.econbiz.de/10011931586

Google econometrics and unemployment forecasting

Askitas, Nikolaos; Zimmermann, Klaus F. - 2009

The current economic crisis requires fast information to predict economic behavior early, which is difficult at times of structural changes. This paper suggests an innovative new method of using data on internet activity for that purpose. It demonstrates strong correlations between keyword...

Persistent link: https://www.econbiz.de/10010269318

The Japanese lost decade and beyond: A chain reaction theory approach

Agnese, Pablo - 2011

The Japanese lost decade has become an intriguing puzzle for both economists and policy-makers alike, as the unemployment rate climbed to unprecedented levels and the growth rate of productivity decreased considerably. More recent times seem to present with a more optimistic outlook, but this is...

Persistent link: https://www.econbiz.de/10010274696

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