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Expectation traps and discretion
Chari, Varadarajan V.; Christiano, Lawrence J.; … - 1996
Persistent link: https://www.econbiz.de/10000588579
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Expectation traps and discretion
Chari, Varadarajan V.; Christiano, Lawrence J.; … - 1996
Persistent link: https://www.econbiz.de/10000938619
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Expectation traps and discretion
Chari, Varadarajan V.; Christiano, Lawrence J.; … - 1996
Persistent link: https://www.econbiz.de/10000939627
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Expectation traps and discretion
Chari, Varadarajan V. - In: Journal of economic theory 81 (1998) 2, pp. 462-492
Persistent link: https://www.econbiz.de/10001338233
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Expectation Traps and Discretion
Chari, Varadarajan V.; Christiano, Lawrence J.; … - 2021
We argue that discretionary monetary policy exposes the economy to welfare-decreasing instability. It does so by creating the potential for private expectations about the response of monetary policy to exogenous shocks to be self-fulfilling. Among the many equilibria that are possible, some have...
Persistent link: https://www.econbiz.de/10013215360
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Expectation Traps and Discretion
Chari, V. V. - 1996
We argue that discretionary monetary policy exposes the economy to welfare-decreasing instability. It does so by creating the potential for private expectations about the response of monetary policy to exogenous shocks to be self-fulfilling. Among the many equilibria that are possible, some have...
Persistent link: https://www.econbiz.de/10012473315
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Introducing Financial Frictions and Unemployment into a Small Open Economy Model
Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - Sveriges Riksbank - 2007
the model using Bayesian techniques on Swedish data. Our main results are: i) A financial shock to entrepreneurial wealth … and GDP. ii) The marginal efficiency of investment shock has very limited importance when we match financial market data …. iii) Our model does not need any high frequency wage markup shocks to match the data. Furthermore, the labor supply shock …
Persistent link: https://www.econbiz.de/10005034154
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Algorithms for solving dynamic models with occasionally binding constraints
Christiano, Lawrence J.; Fisher, Jonas D. M. - 1994
Persistent link: https://www.econbiz.de/10000892008
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Algorithms for solving dynamic models with occasionally binding constraints
Christiano, Lawrence J.; Fisher, Jonas D. M. - 1994
Persistent link: https://www.econbiz.de/10000893108
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Macroeconomics of global capital market imperfections
Bansal, Ravi (contributor);  … - 2004
Persistent link: https://www.econbiz.de/10002433733