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Russia's macroeconomy : a closer look at growth, investment, and uncertainty
Becker, Torbjörn - 2019
This paper looks at economic growth and its fundamental determinants in Russia over the last decades. It starts by … showing that, contrary to the views of some political commentators, growth is highly important for the popularity of president … Putin. Furthermore, regular models of growth are relevant to Russia and other transition countries over the last two decades …
Persistent link: https://www.econbiz.de/10012132420
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Business cycle persistence in developing countries : how successful is a DSGE model with a vertical production chain and sticky prices?
Male, Rachel - 2010
It is well documented that business cycles of developed countries are characterised by persistent output fluctuations, and this has been the subject of much theoretical interest. However, the case for developing countries has been somewhat neglected in the literature. This paper addresses this...
Persistent link: https://www.econbiz.de/10008665125
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From population growth to total factor productivity growth
Inokuma, Hiroshi; Sanchez, Juan M. - 2023
Persistent link: https://www.econbiz.de/10014249317
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The impacts of exogenous oil supply shocks on Mediterranean economies
Bastianin, Andrea; Galeotti, Marzio; Manera, Matteo - 2015
The security of energy supply is a key geopolitical factor in the relationship between the European Union and the southern neighborhood countries of the Middle East and North Africa region. We study the response of eight Mediterranean economies to exogenous oil supply shocks. We focus on the...
Persistent link: https://www.econbiz.de/10011438640
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Nominal rigidities in debt and product markets
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2016
Standard models used for monetary policy analysis rely on sticky prices. Recently, the literature started to explore also nominal debt contracts. Focusing on mortgages, this paper compares the two channels of transmission within a common framework. The sticky price channel is dominant when...
Persistent link: https://www.econbiz.de/10011539811
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Nominal rigidities in debt and product markets
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2016
Standard models used for monetary policy analysis rely on sticky prices. Recently, the literature started to explore also nominal debt contracts. Focusing on mortgages, this paper compares the two channels of transmission within a common framework. The sticky price channel is dominant when...
Persistent link: https://www.econbiz.de/10011524379
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Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2015
Mortgages are prime examples of long-term nominal loans. As a result, under incomplete asset markets, monetary policy can affect household decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. These channels are distinct from the transmission through...
Persistent link: https://www.econbiz.de/10011306278
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Developing country business cycles : revisiting the stylised facts
Male, Rachel - 2010
. -- Business cycle ; Developing economies ; Stylised facts ; Volatility ; Persistence Cross-correlations …
Persistent link: https://www.econbiz.de/10003990420
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Monetary policy and economic performance since the financial crisis
Caldara, Dario; Gagnon, Etienne; Martínez-García, Enrique - 2020
We review macroeconomic performance over the period since the Global Financial Crisis and the challenges in the pursuit of the Federal Reserve's dual mandate. We characterize the use of forward guidance and balance sheet policies after the federal funds rate reached the effective lower bound. We...
Persistent link: https://www.econbiz.de/10012308081
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Forward guidance matters : disentangling monetary policy shocks
Ferreira, Leonardo Nogueira - 2020
Central banks have usually employed short-term rates as the main instrument of monetary policy. In the last decades, however, forward guidance has also become a central tool for monetary policy. In an innovative way this paper combines two sources of extraneous information - high frequency...
Persistent link: https://www.econbiz.de/10012295693