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Monetary Policy and Market Interest Rates
Ellingsen, Tore; Söderström, Ulf - Economics Institute for Research (SIR), … - 1998
We investigate, theoretically and empirically, the relationship between monetary policy and the term structure of interest rates. In particular, we show in a dynamic macroeconomic model that if monetary policy reveals information about economic developments, interest rates of all maturities move...
Persistent link: https://www.econbiz.de/10005649304
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Optimális valutaövezetek, gazdasági integráltság és hasonlatosság : az Európai Unió példája
Békés, Gábor - In: Közgazdasági szemle : a magyar Tudományos Akadémia … 45 (1998) 7, pp. 709-737
Persistent link: https://www.econbiz.de/10001249107
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Az euróövezet bővítése és euróbevezetési stratégiák
Darvas, Zsolt; Szapáry, György - 2008
This paper was commissioned by DG ECFIN from the EU Commission as part of the "EMU@10" project and is published in Hungarian language by the permission of the EU Commission. The original English language version of the paper is available at:...
Persistent link: https://www.econbiz.de/10010494377
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Az euróövezet bővítése és euróbevezetési stratégiák
Darvas, Zsolt M. (contributor);  … - 2008
This paper was commissioned by DG ECFIN from the EU Commission as part of the "EMU@10" project and is published in Hungarian language by the permission of the EU Commission. The original English language version of the paper is available at:...
Persistent link: https://www.econbiz.de/10003770688
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Pénz és kamat. A monetáris politika megújítása. (Money and Interest Rate. A New Approach to Monetary Policy)
Abel, Istvan - 2020
Hungarian Abstract: A hagyományos közgazdaságtan a reálelemzés keretében érvel, és ez akadálya a valós gazdasági folyamatok megértésének. Schumpeter és Keynes kritizálta ezt a megközelítést és helyette a monetáris elemzést alkalmazta. Ezt az elméleti alapvetést követem,...
Persistent link: https://www.econbiz.de/10012849610
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Should central banks be more aggressive?
Söderström, Ulf - Economics Institute for Research (SIR), … - 1999
Simple models of monetary policy often imply optimal policy behavior that is considerably more aggressive than what is commonly observed. This paper argues that such counterfactual implications are due to model restrictions and a failure to account for multiplicative parameter uncertainty,...
Persistent link: https://www.econbiz.de/10005207188
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Insurance Policies for Monetary Policy in the Euro Area
Wieland, Volker; Kuester, Keith - Society for Computational Economics - SCE - 2005
In this paper, we examine the cost of insurance against model uncertainty for the Euro area considering four alternative reference models, all of which are used for policy-analysis at the ECB. We find that maximal insurance across this model range in terms of a Minimax policy comes at moderate...
Persistent link: https://www.econbiz.de/10005345043
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Distributional Effects of Monetary Policies in a New Neoclassical Model with Progressive Income Taxation
Heer, Burkhard; Maussner, Alfred - Society for Computational Economics - SCE - 2005
with aggregate uncertainty. A positive technology shock increases the concentration of wealth as measured by the Gini …. In addition, we find that the business cycle dynamics in the OLG model in response to both a technology shock and a … monetary shock are different from those in the corresponding representative-agent model …
Persistent link: https://www.econbiz.de/10005345083
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Monetary Policy Amplification Effects through a Bank Capital Channel
Aguiar, Alvaro; Drumond, Inês - Money Macro and Finance Research Group - 2007
This paper improves the analysis of the role of financial frictions in the transmission of monetary policy, by bringing together the borrowers' balance sheet channel with an additional channel working through bank capital, considering capital adequacy regulations and households' preferences for...
Persistent link: https://www.econbiz.de/10004975698
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Why Do Central Banks Push for Structural Reforms? The Case of a Reform in the Labor Market
Aguiar, Álvaro; Ribeiro, Ana Paula - Faculdade de Economia, Universidade do Porto - 2008
In spite of being mainly concerned with stabilization policies, central banks in many developed countries often advocate the necessity of structural reforms. In turn, demand-side policies - such as monetary policy - can often help improving the political support of reforms (two-handed-approach)....
Persistent link: https://www.econbiz.de/10005031605