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On the Structural Interpretation of the Smets-Wouters “Risk Premium” Shock
Fisher, Jonas D. M. - Federal Reserve Bank of Chicago - 2014
This article shows that the "risk premium" shock in Smets and Wouters (2007) can be interpreted as a structural shock …
Persistent link: https://www.econbiz.de/10011093785
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Oil Price Shocks, Monetary Policy Rules and Welfare.
Fiore, Fiorella de; Lombardo, Giovenni; Stebunovs, Viktors - Society for Computational Economics - SCE - 2006
should monetary policy react to oil-price shocks in order to minimize such adverse macroeconomic effects? We build a DSGE …
Persistent link: https://www.econbiz.de/10005537449
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Oil price shocks and domestic price investment in Ghana
Wiafe, Emmanuel A.; Barnor, Charles; Quaidoo, Christopher - Volkswirtschaftliche Fakultät, … - 2014
investment. This indicate that shock in oil prices leads to a reduction in investment. It is therefore recommended that …
Persistent link: https://www.econbiz.de/10011113216
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Assessing the Impacts of Non-Ricardian Households in an Estimated New Keynesian DSGE Model
Marto, Ricardo - In: Swiss Journal of Economics and Statistics (SJES) 150 (2014) IV, pp. 353-398
A New Keynesian DSGE model with non-Ricardian households is estimated and tested for the Portuguese economy The share …
Persistent link: https://www.econbiz.de/10011276120
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A Baseline Model for Monetary Policy Analysis
Tonner, Jaromír; Polanský, Jiří; Vašíček, Osvald - In: Bulletin of the Czech Econometric Society 16 (2009)
The paper deals with a baseline New Keynesian DSGE model for a closed economy. The model follows the concept of the New …
Persistent link: https://www.econbiz.de/10008528834
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Assessing the Impacts of Non-Ricardian Households in an Estimated New Keynesian DSGE Model
Marto, Ricardo - Volkswirtschaftliche Fakultät, … - 2013
Using Bayesian maximum likelihood and data for Portugal, I estimate a New Keynesian DSGE model allowing for the …
Persistent link: https://www.econbiz.de/10011111995
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The New Keynesian Dsge Model and Alternative Monetary Policy Rules in the Czech Republic
Bouda, Milan - In: Acta Oeconomica Pragensia 2014 (2014) 1, pp. 41-55
Keynesian DSGE model is specifi ed. Results of this model are used as a benchmark. These results are obtained using Bayesian … an interesting output as a shock decomposition of both the observed variables. The main finding of this paper is that the … the Bayesian comparison of the DSGE models. The key output is that a forward-looking monetary policy rule significantly …
Persistent link: https://www.econbiz.de/10011195162
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Financial Integration and Macroeconomic Volatility
Terrones, Marco; Prasad, Eswar; Kose, M. Ayhan - International Monetary Fund (IMF) - 2003
This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output growth has, on average, declined in the 1990s...
Persistent link: https://www.econbiz.de/10005263967
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Impact on the fate of the euro area economy
Cindea, Moise; Ciurariu, Gabriela - In: THE YEARBOOK OF THE “GH. ZANE” INSTITUTE OF … 20 (2011) 1, pp. 49-57
Regarding the impact of EMU on euro area firms' competitiveness and their capacity to play an important role in international markets, recent research indicates Euro contribution to increasing the competitiveness of firms by facilitating trade between countries in the eurozone and by promoting...
Persistent link: https://www.econbiz.de/10009421684
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Financial Globalization, Portfolio Diversification, and the Pattern of International Trade
Koren, Miklós - International Monetary Fund (IMF) - 2003
The paper provides a general-equilibrium model where incomplete international financial markets lead to insufficient industrial specialization and low international trade. As international portfolio diversification is limited and productivity is uncertain, investors wish to maintain a...
Persistent link: https://www.econbiz.de/10005599412