Similar Search Results

Optimal fiscal and monetary policy in a medium-scale macroeconomic model

Schmitt-Grohé, Stephanie (contributor); … - 2006

In this paper, we study Ramsey-optimal fiscal and monetary policy in a mediumscale model of the U.S. business cycle. The model features a rich array of real and nominal rigidities that have been identified in the recent empirical literature as salient in explaining observed aggregate...

Persistent link: https://www.econbiz.de/10003320648

Climate-conscious monetary policy

Nakov, Anton; Thomas, Carlos - 2023

We study the implications of climate change and the associated mitigation measures for optimal monetary policy in a canonical New Keynesian model with climate externalities. Provided they are set at their socially optimal level, carbon taxes pose no trade-offs for monetary policy: it is both...

Persistent link: https://www.econbiz.de/10014376057

Model misspecification, the equilibrium natural interest rate and the equity premium

Tristani, Oreste (contributor) - 2007

This paper analyses the determinants of the natural rate of interest in a nonlinear model where agents are uncertain over both future technology growth and the future course of monetary policy. I show that the real natural rate can be affected by sizable uncertainty premia, including premia...

Persistent link: https://www.econbiz.de/10003554327

The corporate saving glut and the current account in Germany

Klug, Thorsten; Mayer, Eric; Schuler, Tobias - 2021

We investigate, in the case of Germany, the positive correlation between the cyclical components of the corporate saving glut in the non-financial corporate sector and the current account surplus from a capital account perspective. Employing sign restrictions, our findings suggest that mostly...

Persistent link: https://www.econbiz.de/10012607560

Uncertainty shocks, banking frictions and economic activity

Bonciani, Dario; Roye, Björn van - 2015

Persistent link: https://www.econbiz.de/10011349878

Central bank liquidity provision, risk-taking and economic efficiency

Bindseil, Ulrich; Jabłecki, Juliusz - 2013

Persistent link: https://www.econbiz.de/10009766427

Risk Management in action : robust monetary policy rules under structured uncertainty

Levine, Paul; McAdam, Peter; Pearlman, Joseph; Pierse, … - 2008

Recent interest in "Risk Management"has highlighted the relevance of Bayesian analysis for robust monetary …

Persistent link: https://www.econbiz.de/10003747990

Optimal discretionary policy and uncertainty about inflation persistence

Moessner, Richhild (contributor) - 2005

This paper studies optimal discretionary policy with parameter uncertainty about inflation inertia. Optimal policy rules and impulse responses are presented within a hybrid New-Keynesian model estimated for the euro area by Smets (2003). We find that it may be optimal for policy to respond more...

Persistent link: https://www.econbiz.de/10003208613

International monetary policy coordination and financial market integration

Sutherland, Alan (contributor) - 2002

Persistent link: https://www.econbiz.de/10001702821

Global risk and the dollar

Georgiadis, Georgios; Müller, Gernot J.; Schumann, Ben - 2021

How does global risk impact the world economy? In taking up this question, we focus on the dollar’s role in the … global risk shocks in a Bayesian Proxy VAR model. They cause a synchronized contraction of global economic activity and … illustrate through counterfactuals that the dollar appreciation amplifies the adverse impact of global risk shocks outside of the …

Persistent link: https://www.econbiz.de/10012705529

1
2
3
4
5
6
7
8
9
10
Next
Last