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Model uncertainty and policy evaluation: some theory and empirics

Brock, William; Durlauf, Steven; West, Kenneth - In: Proceedings (2005)

This paper explores ways to integrate model uncertainty into policy evaluation. We first describe a general framework for the incorporation of model uncertainty into standard econometric calculations. This framework employs Bayesian model averaging methods that have begun to appear in a range of...

Persistent link: https://www.econbiz.de/10005372679

No-arbitrage Taylor rules - comments

Levin, Andrew - In: Proceedings (2005)

Persistent link: https://www.econbiz.de/10005372682

Monetary and fiscal policy in a liquidity trap: the Japanese experience 1999-2004

Iwamura, Mitsuru; Kudo, Takeshi; Watanabe, Tsutomu - In: Proceedings (2005)

—2004. First, we find that the Bank of Japan’s policy commitment to continuing monetary easing until some prespecified conditions … sloping, indicating that the Bank of Japan’s commitment failed to have sufficient influence on the market’s expectations about … escape from the liquidity trap. …

Persistent link: https://www.econbiz.de/10005372719