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Uncertainty and the Taylor rule in a simple model of the Euro-area economy

Peersman, Gert; Smets, Frank - In: Proceedings (1999)

Persistent link: https://www.econbiz.de/10005078158

Welfare analysis of non-fundamental asset price and investment shocks: Implications for monetary policy

Wouters, Raf; Smets, Frank - Society for Computational Economics - SCE - 2004

improving. In such a case, optimal monetary policy will no longer be characterised by a symmetric response to inflation and …

Persistent link: https://www.econbiz.de/10005345281

DSGE models and their use at the ECB

Smets, Frank; Christoffel, Kai; Coenen, Günter; Motto, … - In: SERIEs 1 (2010) 1, pp. 51-65

Persistent link: https://www.econbiz.de/10008727266

Evidence from Surveys of Price-Setting Managers: Policy Lessons and Directions for Ongoing Research

Gaspar, Vítor; Levin, Andrew; Martins, Fernando Manuel; … - C.E.P.R. Discussion Papers - 2007

inflation and in determining how monetary policy affects inflation and real economic activity. The Inflation Persistence Network …

Persistent link: https://www.econbiz.de/10005791860

Output gaps:theory versus practice

Wouters, Raf; Smets, Frank - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005706803

Why Does the Yield Curve Predict Economic Activity? Dissecting the Evidence for Germany and the United States

Smets, Frank; Tsatsaronis, Kostas - C.E.P.R. Discussion Papers - 1997

States. A structural VAR is used to identify aggregate supply, aggregate demand, monetary policy and inflation scare shocks … inflation scares do not. As the latter are more important in the United States, they reduce the predictive content of the term …

Persistent link: https://www.econbiz.de/10005123911

Shocks and Frictions in US Business Cycles : a Bayesian DSGE Approach

Smets, Frank; Wouters, Raf - Nationale Bank van België/Banque national de Belqique (BNB) - 2007

explain the cross-correlation between output and inflation? What are the effects of productivity on hours worked? What are the …

Persistent link: https://www.econbiz.de/10005060011

Forecasting with a Bayesian DSGE model: an application to the euro area

Smets, Frank; Wouters, Raf - European Central Bank - 2004

inflation and output play an important role. This paper illustrates how modern sticky-price dynamic stochastic general … distribution of the forecast, as well as various inflation risk measures that have been proposed in the literature. Finally, the …

Persistent link: https://www.econbiz.de/10005162894

Output gap uncertainty: Does it matter for the Taylor rule?

Smets, Frank - In: Empirical Economics 27 (2002) 1, pp. 113-129

the response to the current estimated output gap relative to current inflation and may partly explain why the parameters …

Persistent link: https://www.econbiz.de/10005166660

The Monetary Transmission Mechanism: Evidence from the G-7 Countries

Gerlach, Stefan; Smets, Frank - C.E.P.R. Discussion Papers - 1995

In this paper we compare the effects of monetary policy on output and prices in the G-7 countries using a parsimonious macroeconometric model comprising output, prices and a short-term interest rate. We identify monetary policy shocks by assuming that they do not affect real output...

Persistent link: https://www.econbiz.de/10005498157