Similar Search Results

Surprising Comparative Properties of Monetary Models: Results from a New Model Database

Taylor, John B.; Wieland, Volker - In: The Review of Economics and Statistics 94 (2012) 3, pp. 800-816

In this paper, we investigate the comparative properties of empirically estimated monetary models of the U.S. economy using a new database of models designed for such investigations. We focus on three representative models due to Christiano, Eichenbaum, and Evans (2005), Smets and Wouters...

Persistent link: https://www.econbiz.de/10011009931

Surprising comparative properties of monetary models: Results from a new model database

Taylor, John B.; Wieland, Volker - House of Finance, Goethe Universität Frankfurt am Main - 2012

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy using a new database of models designed for such investigations. We focus on three representative models due to Christiano, Eichenbaum, Evans (2005), Smets and Wouters (2007) and...

Persistent link: https://www.econbiz.de/10010955262

Surprising comparative properties of monetary models: Results from a new data base

Taylor, John B.; Wieland, Volker - Center for Financial Studies - 2009

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new data base of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...

Persistent link: https://www.econbiz.de/10010958611

Surprising comparative properties of monetary models: Results from a new data base

Taylor, John B.; Wieland, Volker - C.E.P.R. Discussion Papers - 2009

Persistent link: https://www.econbiz.de/10005041095

Surprising Comparative Properties of Monetary Models: Results from a New Data Base

Taylor, John B.; Wieland, Volker - National Bureau of Economic Research (NBER) - 2009

Persistent link: https://www.econbiz.de/10005830024

Money in monetary policy design under uncertainty: A formal characterization of ECB-style cross-checking

Beck, Günter W.; Wieland, Volker - Center for Financial Studies - 2006

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much criticism for this decision. The case against including money in the central banks interest rate rule is based on a standard model of the monetary transmission process that underlies...

Persistent link: https://www.econbiz.de/10010986372

Central bank misperceptions and the role of money in interest rate rules

Beck, Günter W.; Wieland, Volker - Center for Financial Studies - 2008

inflation while declaring monetary aggregates largely irrelevant. Critics, however, have argued that these models need to be … modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived …

Persistent link: https://www.econbiz.de/10010986449

Money in monetary policy design under uncertainty: The two-pillar Phillips curve versus ECB-style cross-checking

Beck, Günter W.; Wieland, Volker - Center for Financial Studies - 2006

or inflation as in the empirical two-pillar Phillips curves estimated in some recent contributions, it would be optimal …-checking does not require direct effects of money on output or inflation. …

Persistent link: https://www.econbiz.de/10010986472

Forecasting and policy making

Wieland, Volker; Wolters, Maik Hendrik - House of Finance, Goethe Universität Frankfurt am Main - 2012

Persistent link: https://www.econbiz.de/10010955284

Money in monetary policy design: Monetary cross-checking in the New-Keynesian Model

Beck, Guenter W.; Wieland, Volker - Center for Financial Studies - 2009

criticized for failing to explain common trends in money growth and inflation, and that therefore money should be used as a cross …-check is shown to be effective in offsetting persistent deviations of inflation due to central bank misperceptions. …

Persistent link: https://www.econbiz.de/10010958545