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On the macroeconomic implications of firm dynamics, banking, and reputation
Totzek, Alexander - 2011
Since the publication of Keynes' "General Theory of Employment, Interest, and Money" in 1936 many new ideas and … measures of economic activity such as GDP, employment, and capital investment but neglect their impact on the mass of firms …
Persistent link: https://www.econbiz.de/10008907265
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Partially anticipated monetary policy shocks : are they stabilizing or destabilizing?
Offick, Sven; Wohltmann, Hans-Werner - In: Jahrbücher für Nationalökonomie und Statistik 236 (2016) 1, pp. 95-127
Persistent link: https://www.econbiz.de/10011486776
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Volatility effects of news shocks in New Keynesian models with optimal monetary policy : updated version
Offick, Sven; Wohltmann, Hans-Werner - 2016 - Revised version
unanticipated shock of the same size. This inversion of the volatility effects of news shocks follows from the inverse relation …
Persistent link: https://www.econbiz.de/10011452632
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Volatility effects of news shocks in (B)RE models with optimal monetary policy
Offick, Sven; Wohltmann, Hans-Werner - 2015
unanticipated shock of the same size. The inversion of the volatility effects of news shocks between rational and boundedly rational …
Persistent link: https://www.econbiz.de/10011390502
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Volatility effects of news shocks in New Keynesian models with optimal monetary policy
Offick, Sven; Wohltmann, Hans-Werner - In: Economics letters 147 (2016), pp. 78-82
Persistent link: https://www.econbiz.de/10011619510
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On the non-optimality of information : an analysis of the welfare effects of anticipated shocks in the New Keynesian model
Wohltmann, Hans-Werner; Winkler, Roland - 2009
anticipation of a future cost-push shock leads to a higher welfare loss than an unanticipated shock. A welfare gain from the … anticipation of a future cost shock may only occur if prices are sufficiently flexible. We show analytically that this result holds …
Persistent link: https://www.econbiz.de/10003826605
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Rational expectations models with anticipated shocks and optimal policy : a general solution method and a New Keynesian example
Wohltmann, Hans-Werner; Winkler, Roland - 2009
The purpose of this paper is to show how to solve linear dynamic rational expectations models with anticipated shocks by using the generalized Schur decomposition method. Furthermore, we determine the optimal unrestricted and restricted policy responses to anticipated shocks. We demonstrate our...
Persistent link: https://www.econbiz.de/10003827176
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Rational expectations models with anticipated shocks and optimal policy : a general solution method and a new Keynesian example
Wohltmann, Hans-Werner; Winkler, Roland - 2009
The purpose of this paper is to show how to solve linear dynamic rational expectations models with anticipated shocks by using the generalized Schur decomposition method. Furthermore, we determine the optimal unrestricted and restricted policy responses to anticipated shocks. We demonstrate our...
Persistent link: https://www.econbiz.de/10003810950
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Monetary persistence, imperfect competition, and staggering complementarities
Merkl, Christian; Snower, Dennis J. - In: Macroeconomic dynamics 13 (2009) 1, pp. 81-106
Persistent link: https://www.econbiz.de/10003815907
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On the non-optimality of information : an Analysis of the welfare effects of anticipated shocks in the New Keynesian model
Wohltmann, Hans-Werner (contributor);  … - 2008
anticipation of a future cost-push shock leads to a higher welfare loss than an unanticipated shock. A welfare gain from the … anticipation of a future cost shock may only occur if prices are sufficiently flexible. We analytically show that this surprising …
Persistent link: https://www.econbiz.de/10003794092