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Monetary policy and hysteresis in potential output
Kienzler, Daniel; Schmid, Kai D. - 2013
potential output is subject to hysteresis. We augment a basic NewKeynesian model by hysteresis in potential output and contrast … simulation outcomes of this extended model to the standard model. We find that considering hysteresis allows for a more realistic …
Persistent link: https://www.econbiz.de/10009772964
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Monetary policy and hysteresis in potential output
Kienzler, Daniel; Schmid, Kai D. - 2013
potential output is subject to hysteresis. We augment a basic New Keynesian model by hysteresis in potential output and contrast … simulation outcomes of this extended model to the standard model. We find that considering hysteresis allows for a more realistic … active output gap stabilization arises from stability analyses and welfare considerations. -- Monetary Policy ; Hysteresis …
Persistent link: https://www.econbiz.de/10009736122
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Monetary Policy and Hysteresis in Potential Output
Kienzler, Daniel - 2014
potential output is subject to hysteresis. We augment a basic New Keynesian model by hysteresis in potential output and contrast … simulation outcomes of this extended model to the standard model. We find that considering hysteresis allows for a more realistic …
Persistent link: https://www.econbiz.de/10013057385
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Hysteresis in potential output and monetary policy
Kienzler, Daniel; Schmid, Kai D. - 2013
Persistent link: https://www.econbiz.de/10010410454
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Supply or demand? : policy makers' confusion in the pesence of hysteresis
Fatás, Antonio; Singh, Sanjay R. - 2022
aggregate demand policies. In this paper we study the case of a central bank that ignores the presence of hysteresis when … interaction between forecasts, policies and hysteresis creates the dynamics of self-perpetuating errors that is the focus of this …
Persistent link: https://www.econbiz.de/10013179263
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Credit risk, excess reserves and monetary policy : the deposits channel
Bratsiotis, George - 2017 - This Version: 25 January 2018
This paper examines the role of the precautionary demand for liquidity and the interest on reserves as two potential determinants of the deposits channel that can help explain the role of monetary policy, particularly at the near zero-bound. At high levels of precautionary liquidity hoarding the...
Persistent link: https://www.econbiz.de/10011810801
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DSGE models and central banks
Tovar, Camilo Ernesto - 2009
Over the past 15 years there has been remarkable progress in the specification and estimation of dynamic stochastic general equilibrium (DSGE) models. Central banks in developed and emerging market economies have become increasingly interested in their usefulness for policy analysis and...
Persistent link: https://www.econbiz.de/10003832138
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Greenspan’s Legacy and Bernanke’s Attitude to the Financial Crisis
Ryan, John; Koronowski, Adam - 2009
The Federal Reserve System or the Fed is one of the most prestigious institutions in the world. Founded by the Federal Reserve Act in 1913, the Fed has the responsibility of setting the monetary policy of the U.S. The Fed’s actions affect the money supply in the U.S. market which has a direct...
Persistent link: https://www.econbiz.de/10014203722
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Monetary Policy in the Grip of a Pincer Movement
Borio, Claudio E. V. - 2018
Monetary policy has been in the grip of a pincer movement, caught between growing financial cycles, on the one hand, and an inflation process that has become quite insensitive to domestic slack, on the other. This two-pronged attack has laid bare some of the limitations of prevailing monetary...
Persistent link: https://www.econbiz.de/10012926156
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Credit Risk, Excess Reserves and Monetary Policy : The Deposits Channel
Bratsiotis, George - 2018
This paper examines the role of precautionary liquidity (reserves) and the interest on reserves as two potential determinants of the deposits channel that can help explain the role of monetary policy, particularly at the near zero-bound. Through the deposits channel either of these two...
Persistent link: https://www.econbiz.de/10012930610