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A new comparative approach to macroeconomic modeling and policy analysis
Wieland, Volker; Cwik, Tobias; Müller, Gernot J.; … - 2012
In the aftermath of the global financial crisis, the state of macroeconomicmodeling and the use of macroeconomic models in policy analysis has come under heavy criticism. Macroeconomists in academia and policy institutions have been blamed for relying too much on a particular class of...
Persistent link: https://www.econbiz.de/10010391307
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Exit Expectations and Debt Crises in Currency Unions
Kriwoluzky, Alexander; Müller, Gernot J.; Wolf, Martin - 2015
fiscal stance and inflation using cross-country data from 1965 to 1999. In a first step, we contrast the monetary … that the low-frequency relationship between the fiscal stance and inflation is low during periods of an independent central … illustrate the mechanisms through which fiscal actions affect inflation in the long run. The findings from the DSGE model suggest …
Persistent link: https://www.econbiz.de/10011420445
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A new comparative approach to macroeconomic modeling and policy analysis
Wieland, Volker; Cwik, Tobias; Müller, Gernot J.; … - 2012
In the aftermath of the global financial crisis, the state of macroeconomicmodeling and the use of macroeconomic models in policy analysis has come under heavy criticism. Macroeconomists in academia and policy institutions have been blamed for relying too much on a particular class of...
Persistent link: https://www.econbiz.de/10010368575
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A new comparative approach to macroeconomic modeling and policy analysis
Wieland, Volker; Cwik, Tobias J.; Müller, Gernot J.; … - 2012
In the aftermath of the global financial crisis, the state of macroeconomic modeling and the use of macroeconomic models in policy analysis has come under heavy criticism. Macroeconomists in academia and policy institutions have been blamed for relying too much on a particular class of...
Persistent link: https://www.econbiz.de/10010308555
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Exit expectations and debt crises in currency unions
Kriwoluzky, Alexander; Müller, Gernot J.; Wolf, Martin - 2015
Membership in a currency union is not irreversible. Exit expectations may emerge during sovereign debt crises, because exit allows countries to reduce their liabilities through a currency redenomination. As market participants anticipate this possibility, sovereign debt crises intensify. We...
Persistent link: https://www.econbiz.de/10011410602
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The Worst of Both Worlds : Fiscal Policy and Fixed Exchange Rates
Born, Benjamin - 2019
Under fixed exchange rates, fiscal policy is an effective tool. According to classical views because it impacts the real exchange rate, according to Keynesian views because it impacts output. Both views have merit because the effects of government spending are asymmetric. A spending cut lowers...
Persistent link: https://www.econbiz.de/10012859987
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The worst of both worlds : fiscal policy and fixed exchange rates
Born, Benjamin; D'Ascanio, Francesco; Müller, Gernot J.; … - 2019
Under fixed exchange rates, fiscal policy is an effective tool. According to classical views because it impacts the real exchange rate, according to Keynesian views because it impacts output. Both views have merit because the effects of government spending are asymmetric. A spending cut lowers...
Persistent link: https://www.econbiz.de/10012118599
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Mr. Keynes meets the classics : government spending and the real exchange rate
Born, Benjamin; D'Ascanio, Francesco; Müller, Gernot J.; … - 2021
with economic slack and inflation. …
Persistent link: https://www.econbiz.de/10012544252
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A new comparative approach to macroeconomic modeling and policy analysis
Wieland, Volker; Cwik, Tobias J.; Müller, Gernot J.; … - Center for Financial Studies - 2012
In the aftermath of the global financial crisis, the state of macroeconomic modeling and the use of macroeconomic models in policy analysis has come under heavy criticism. Macroeconomists in academia and policy institutions have been blamed for relying too much on a particular class of...
Persistent link: https://www.econbiz.de/10010986439
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A new comparative approach to macroeconomic modeling and policy analysis
Wieland, Volker; Cwik, Tobias; Müller, Gernot J.; … - In: Journal of Economic Behavior & Organization 83 (2012) 3, pp. 523-541
In the aftermath of the global financial crisis, the state of macroeconomic modeling and the use of macroeconomic models in policy analysis has come under heavy criticism. Macroeconomists in academia and policy institutions have been blamed for relying too much on a particular class of...
Persistent link: https://www.econbiz.de/10011048074