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Should monetary policy respond to private sector expectations?
Berardi, Michele - Volkswirtschaftliche Fakultät, … - 2008
This work analyses the implications, in terms of determinacy and E-stability of equilibrium, of a policy rule that …
Persistent link: https://www.econbiz.de/10008559090
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The Role of Consumption-Labor Complementarity as a Source of Macroeconomic Instability
Gliksberg, Baruch - Volkswirtschaftliche Fakultät, … - 2010
The equilibrium ramification of a balanced budget rule are scrutinized in a one sector growth model augmented with investment frictions and a non-separable utility function in consumption and leisure. Edgeworth-complementarity between consumption and labor is formulated so as to generate a...
Persistent link: https://www.econbiz.de/10008534215
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Real Balance Effects, Determinacy and Optimal Monetary Policy
Piergallini, Alessandro - Volkswirtschaftliche Fakultät, … - 2004
equilibrium determinacy under an interest rate rule of the Taylor-type and the implications for optimal monetary policy are … effect makes the so-called "Taylor principle" not necessary for determinacy of rational expectations equilibrium. A …
Persistent link: https://www.econbiz.de/10011112578
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Pakistan Economy DSGE Model with Informality
Ahmed, Shahzad; Ahmed, Waqas; Khan, Sajawal; Pasha, Farooq - Volkswirtschaftliche Fakultät, … - 2012
In this paper we develop a closed economy DSGE model of Pakistan with informality both in the labor and product markets … our model performs relatively better than existing DSGE literature on emerging markets. We find good degree of evidence of …
Persistent link: https://www.econbiz.de/10011260073
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House Prices and Consumption
Song, In Ho - Volkswirtschaftliche Fakultät, … - 2010
are introduced into dynamic stochastic general equilibrium (DSGE) models characterized by separable preferences …
Persistent link: https://www.econbiz.de/10008764711
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The financial meltdown: a model with endogenous default probability
Ferrari, Massimo - Volkswirtschaftliche Fakultät, … - 2014
Abstract Starting from some of the most recent literature developed after the world financial crisis, it has been developed a model with heterogeneous agents and an active interbank market, characterized by an endogenous default probability. The key feature of the analysis is that the...
Persistent link: https://www.econbiz.de/10011156994
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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
This paper develops an open economy dynamic stochastic general equilibrium (DSGE) model based on New-Keynesian micro … 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
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Inflation Skewness and Price Indexation
Firouzi Naeim, Peyman; Rahimzadeh, golnoush - Volkswirtschaftliche Fakultät, … - 2013
One of the two price indexation schemes in the staggered price DSGE models is the indexation to the average inflation …
Persistent link: https://www.econbiz.de/10011110100
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Assessing the Impacts of Non-Ricardian Households in an Estimated New Keynesian DSGE Model
Marto, Ricardo - Volkswirtschaftliche Fakultät, … - 2013
Using Bayesian maximum likelihood and data for Portugal, I estimate a New Keynesian DSGE model allowing for the …
Persistent link: https://www.econbiz.de/10011111995
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DSGE models for developing economies: an application to Morocco
Lahcen, Mohammed Ait - Volkswirtschaftliche Fakultät, … - 2014
objective, we derive a simple New Keynesian Small Open Economy DSGE model featuring multiple sectors with monopolistic …
Persistent link: https://www.econbiz.de/10011240203