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The effects of labor income risk heterogeneity on the marginal propensity to consume

Savoia, Ettore - 2023

Using detailed micro-data, this paper documents that households with lower income risk (and higher income levels … designed to account for the empirically observed negative correlation between income levels and income risk. This interaction … generates saving dynamics such that the stationary distribution of wealth among households facing different risk levels is not …

Persistent link: https://www.econbiz.de/10014482888

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

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

International monetary policy coordination and financial market integration

Sutherland, Alan (contributor) - 2002

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

Monetary policy expectation errors

Schmeling, Maik; Schrimpf, Andreas; Steffensen, Sigurd … - 2022 - This version: January 24, 2022

Persistent link: https://www.econbiz.de/10012888375

Quantifying financial stability trade-offs for monetary policy : a quantile VAR approach

Chavleishvili, Sulkhan; Kremer, Manfred; Lund-Thomsen, … - 2023

euro area covering the real economy, monetary policy and measures of ex ante and ex post systemic risk representing … take a risk management perspective, One exercise considers the intertemporal financial stability trade-off in the context …

Persistent link: https://www.econbiz.de/10014343148

Geopolitical risk shocks : when the size matters

Brignone, Davide; Gambetti, Luca; Ricci, Martino - 2024

In this paper, we investigate the presence of non-linearities in the transmission of geopolitical risk (GPR) shocks …

Persistent link: https://www.econbiz.de/10015163238

Risk, uncertainty and monetary policy

Bekaert, Geert; Hoerova, Marie; Lo Duca, Marco - 2013

Persistent link: https://www.econbiz.de/10009766337

Central bank liquidity provision, risk-taking and economic efficiency

Bindseil, Ulrich; Jabłecki, Juliusz - 2013

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