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A Bayesian Estimation of HANK models with Continuous Time Approach:Comparison between US and Japan

Hasumi, Ryo; Iiboshi, Hirokuni - 2019

Abstract This paper estimates heterogeneous agent New Keynesian (HANK) model for US and Japan through three aggregate observations: real GDP, inflation and interest rate, by adopting combination of easy-to-use computational method for solving the model, developed by Ahn, Kaplan, Moll, Winberry...

Persistent link: https://www.econbiz.de/10015263112

A Bayesian Estimation of HANK models with Continuous Time Approach:Comparison between US and Japan

Hasumi, Ryo; Iiboshi, Hirokuni - 2019

Persistent link: https://www.econbiz.de/10015263544

Observing the Evolution in Macroeconomic Theory

Podshivalov, Georgii - 2019

macroeconomic theory with the original (rather than conventional) notation where appropriate. The observations are organized by …

Persistent link: https://www.econbiz.de/10015266043

The Spending Cap and Monetary Policy Effectiveness

Ribeiro, Gustavo; Teles, Vladmir; Costa-Filho, João - 2023

What is the impact on the transmission of monetary policy in Brazil under the fiscal ceiling implemented in 2016? We find empirical evidence of the response of fiscal variables to monetary policy shocks by estimating a dynamic model factor. Then, we analyze whether the imposition of an...

Persistent link: https://www.econbiz.de/10015269386

Critique of IS-LM: fiscal deficits, loanable funds, Keynesian Cross and IS-LM

Kim, Minseong - 2014

This paper intends to discuss some problematic properties IS-LM and loanable funds together have when dealing with fiscal deficits. Many others have focused on its assumptions for criticism of IS-LM, but I will mainly focus on its fundamental modelling nature. To say more specifically, I will...

Persistent link: https://www.econbiz.de/10015244614

Theory and empirics of an affine term structure model applied to European data

Jakas, Vicente - 2011

The basic asset pricing equation is adapted to include the effects of unemployment, consumers’ expectations, the price level and money supply on money market rates and government bond yields. Expected consumption growth is modelled using European unemployment figures and Eurostat Consumer...

Persistent link: https://www.econbiz.de/10015230142

Money, credit and the interest rate in Marx's economic. On the similarities of Marx's monetary analysis to Post-Keynesian economics

Hein, Eckhard - 2004

Marx’s economics cannot only be seen as one of the sources of post-Keynesian economics because his theory of capitalist … reproduction has had a major impact on Kalecki’s theory of effective demand, but also because his monetary economics fit quite well … into the post-Keynesian research programme of a monetary theory of production. …

Persistent link: https://www.econbiz.de/10015219051

The rate of interest as a macroeconomic distribution parameter: Horizontalism and Post-Keynesian models of distribution of growth

Hein, Eckhard - 2010

We review the main arguments put forward against the horizontalist view of endogenous credit and money and an exogenous rate of interest under the control of monetary policies. We argue that the structuralist arguments put forward in favour of an endogenously increasing interest rate when...

Persistent link: https://www.econbiz.de/10015222045

Interest rates and prices causality in the Czech Republic - Granger approach

Pomenkova, Jitka; Kapounek, Svatopluk - 2009

Monetary policy analysis concerns both the assumptions of the transmission mechanism and the direction of causality between the nominal (i.e. the money) and real economy. The traditional channel of monetary policy implementation works via the interest rate changes and their impact on the...

Persistent link: https://www.econbiz.de/10015224699

New Approach to Analyzing Monetary Policy in China

Petreski, Marjan; Jovanovic, Branimir - 2012

Any attempt to model monetary policy in China has to take into account two ‘specifics’ of the Chinese monetary policy: the reliance on several operational instruments, both quantitative (open market operations, discount rate, reserve requirement) and qualitative (selective credit allowances,...

Persistent link: https://www.econbiz.de/10015233227