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Büyükkarabacak, Berrak; Mykhaylova, Olena - Volkswirtschaftliche Fakultät, … - 2010

welfare in the economy by up to 0.3 percent of consumption. This result is robust to several specifications of the Taylor rule …

Persistent link: https://www.econbiz.de/10008574290

Dynamics of Sticky Information and Sticky Price Models in a New Keynesian DSGE Framework

Arslan, Mesut Murat - Volkswirtschaftliche Fakultät, … - 2007

Recent literature on monetary policy analysis extensively uses the sticky price model of price adjustment in a New Keynesian Macroeconomic framework. This price setting model, however, has been criticized for producing implausible results regarding inflation and output dynamics. This paper...

Persistent link: https://www.econbiz.de/10005621721

Did Greenspan Open Pandora's Box? Testing the Taylor Hypothesis and Beyond

Palma, Nuno - Volkswirtschaftliche Fakultät, … - 2013

The Taylor hypothesis is the conjecture that the 2007-2009 financial crisis and the 2008-present downturn have been … caused by loose monetary policy during 2002-2006. According to the Taylor hypothesis the Fed deviated from well-know rules of … as deviations from Taylor-type rules. I conclude that the Taylor hypothesis for the Taylor rule fails to reproduce …

Persistent link: https://www.econbiz.de/10011107274

Wiederherstellung der Glaubwürdigkeit der rechtlichen und wirtschaftlichen Grundlagen der finanziellen Stabilität: die Notwendigkeit für eine Gründung der Wirtschaftstheorien?

Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2013

To what extent can monetary and financial crises and cycles be explained through economic theories? This paper is aimed at highlighting why a reliance on economic theories may be necessary given certain flaws which have been revealed from the recent Financial Crisis. Namely, that economic and...

Persistent link: https://www.econbiz.de/10011107686

Sources of Macroeconomic Fluctuations in MENA Countries

Balcilar, Mehmet; Bagzibagli, Kemal - Volkswirtschaftliche Fakultät, … - 2010

A close examination of the MENA region economies reveals a number of fundamental sources of macroeconomic fluctuations. These include economic factors such as exchange rate instability, large public debt, current account deficits, and escalation of inflation. The political factors such as...

Persistent link: https://www.econbiz.de/10011108303

Explaining the durable goods co-movement puzzle with non-separable preferences: a bayesian approach.

Dey, Jaya; Tsai, Yi-Chan - Volkswirtschaftliche Fakultät, … - 2012

A standard two-sector sticky price model with flexibly priced durables depicts negative co-movement between durables and non-durables after a monetary policy shock, which is at odds with the empirical evidence. This paper proposes a new channel, non-separable preferences with a small wealth...

Persistent link: https://www.econbiz.de/10011108630

Zero lower bound, unconventional monetary policy and indicator properties of interest rate spreads

Hännikäinen, Jari - Volkswirtschaftliche Fakultät, … - 2014

This paper re-examines the out-of-sample predictive power of interest rate spreads when the short-term nominal rates have been stuck at the zero lower bound and the Fed has used unconventional monetary policy. Our results suggest that the predictive power of some interest rate spreads have...

Persistent link: https://www.econbiz.de/10011108827

Peculiar Results and Theoretical Inconsistency of New Keynesian Models

Kim, Minseong - Volkswirtschaftliche Fakultät, … - 2014

In this paper, several flaws of the basic no-capital/labor-only New Keynesian model are discussed. Some flaws were left undiscovered because mass of varieties n in Dixit-Stiglitz aggregator is often considered as not affecting overall outcomes. Only when n=1 would ordinary results of the basic...

Persistent link: https://www.econbiz.de/10011109474

Are Prices Sticky in Large Developing Economies? An Empirical Comparison of China and India

Chong, Terence Tai Leung; Zhu, Tingting; Rafiq, M.S. - Volkswirtschaftliche Fakultät, … - 2013

This paper compares the role of macroeconomic and sector-specific factors in price movements for China and India, taking into account the features unique to developing economies. We find that fluctuations in the aggregated prices in China are more persistent than the underlying disaggregated...

Persistent link: https://www.econbiz.de/10011109475

Monetary policy, informality and business cycle fluctuations in a developing economy vulnerable to external shocks

Haider, Adnan; Din, Musleh-ud; Ghani, Ejaz - Volkswirtschaftliche Fakultät, … - 2012

determinacy analysis suggest monetary authority in developing economies to follow Taylor principle in large and to put some weight …

Persistent link: https://www.econbiz.de/10011109585