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R-star : a new approach to estimate the polar star of monetary policy
Bofinger, Peter; Haas, Thomas - 2023
The necessary adjustments to prominent measures of the neutral rate of interest following the COVID pandemic sparked a wide-ranging debate on the measurement and usefulness of r-star. Due to high uncertainty about relevant determinants, trend patterns and the correct estimation method, we...
Persistent link: https://www.econbiz.de/10014362703
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R-star: A new approach to estimate the polar star of monetary policy
Bofinger, Peter; Haas, Thomas - 2023
The necessary adjustments to prominent measures of the neutral rate of interest following the COVID pandemic sparked a wide-ranging debate on the measurement and usefulness of r-star. Due to high uncertainty about relevant determinants, trend patterns and the correct estimation method, we...
Persistent link: https://www.econbiz.de/10014363833
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The BMW model: Simple macroeconomics for closed and open economies a requiem for the IS/LM-AS/AD and the Mundell-Fleming model
Bofinger, Peter; Mayer, Eric; Wollmershäuser, Timo - 2002
While the IS/LM-AS/AD model is still the central tool of macroeconomic teaching in most macroeconomic textbooks, it has been criticised by several economists. Colander [1995] has demonstrated that the framework is logically inconsistent, Romer [2000] has shown that it is unable to deal with a...
Persistent link: https://www.econbiz.de/10010305767
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The BMW model: simple macroeconomics for closed and open economies a requiem for the IS/LM-AS/AD and the Mundell-Fleming model
Bofinger, Peter; Mayer, Eric; Wollmershäuser, Timo - Wirtschaftswissenschaftliche Fakultät, Bayerische … - 2002
While the IS/LM-AS/AD model is still the central tool of macroeconomic teaching in most macroeconomic textbooks, it has been criticised by several economists. Colander [1995] has demonstrated that the framework is logically inconsistent, Romer [2000] has shown that it is unable to deal with a...
Persistent link: https://www.econbiz.de/10009226109
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The Bmw Model : Simple Macroeconomics for Closed and Open Economies - a Requiem for the Is/Lm-As/Ad and the Mundell-Fleming Model
Bofinger, Peter; Mayer, Eric; Wollmershaeuser, Timo - 2003
While the IS/LM-AS/AD model is still the central tool of macroeconomic teaching in most macroeconomic textbooks, it has been criticised by several economists. Colander [1995] has demonstrated that the framework is logically inconsistent, Romer [2000] has shown that it is unable to deal with a...
Persistent link: https://www.econbiz.de/10014110259
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The Bmw Model : A New Framework for Teaching Monetary Macroeconomics in Closed and Open Economies
Bofinger, Peter; Wollmershaeuser, Timo; Mayer, Eric; … - 2002
While the IS/LM-AS/AD model is still the central tool of macroeconomic teaching in most macroeconomic textbooks, it has been criticised by several economists. Colander [1995] has demonstrated that the framework is logically inconsistent, Romer [2000] has shown that it is unable to deal with a...
Persistent link: https://www.econbiz.de/10014112743
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The ECB's policy under the presidency of Mario Draghi : a curse or a blessing for Europe?
Bofinger, Peter - In: European journal of economics and economic policies : … 17 (2020) 2, pp. 171-182
Persistent link: https://www.econbiz.de/10012321796
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Europe's monetary future
Collignon, Stefan; Bofinger, Peter; Johnson, Christopher - 1994
Persistent link: https://www.econbiz.de/10000414389
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Monetary and fiscal policy interaction in the euro area with different assumptions on the Phillips curve
Bofinger, Peter; Mayer, Eric - In: Open economies review 18 (2007) 3, pp. 291-305
Persistent link: https://www.econbiz.de/10003482053
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Monetary and fiscal policy interaction in the Euro area with different assumptions on the Phillips curve
Bofinger, Peter; Mayer, Eric - 2003 - Revised
In this paper we carry over a static version of a New Keynesian Macro Model developed in previous papers (see Bofinger, Mayer, and Wollmershäuser 2002) to a monetary union. For a similar approach see (Uhlig 2002). We will show in particular that a harmonious functioning of a monetary union...
Persistent link: https://www.econbiz.de/10010498975