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Federal Reserve Policy in the Great Recession
Meltzer, Allan H. - 2013
Overresponse to short-run events and neglect of longer-term consequences of its actions is one of the main errors that the Federal Reserve makes repeatedly. The current recession offers many examples of actions that some characterize as bold and innovative. I regard many of these actions as...
Persistent link: https://www.econbiz.de/10013084266
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Uncertainty and monetary policy during the great recession
Pellegrino, Giovanni; Castelnuovo, Efrem; Caggiano, Giovanni - 2021
real activity to a financial uncertainty shock during and in the aftermath of the great recession. We replicate this … estimated framework to quantify the output loss due to the large uncertainty shock that materialized in 2008Q3. We find such a … shock to be able to explain about 60% of the output loss in the 2008-2014 period. The same estimated model unveils the role …
Persistent link: https://www.econbiz.de/10012495676
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Identifying effective combinations of economic policy measures for the coronavirus recession in Europe
Bernoth, Kerstin; Clemens, Marius; Dany-Knedlik, Geraldine - In: DIW weekly report : economy, politics, science : a … 10 (2020) 23, pp. 263-273
As the coronavirus pandemic spread across the globe in early 2020, the European Central Bank as well as national governments in the euro area enacted or announced numerous economic policy measures to counteract the severe economic consequences of the resulting lockdowns. In this paper, the...
Persistent link: https://www.econbiz.de/10012231998
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Economics of the financial crisis : any lessons for the pandemic downturn and beyond?
Elyassi, Hamid - In: Contemporary economics 15 (2021) 1, pp. 100-121
The world economy entered the third decade of this century with uncertainties and challenges of COVID-19 pandemic before it had fully recovered from the lingering aftereffects of the financial crisis. The financial crisis ended a period of overall global economic growth and price stability...
Persistent link: https://www.econbiz.de/10012485796
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How Can Recessions Be Brought to an End? Effects of Macroeconomic Policy Actions on Durations of Recessions
Tas, Bedri Kamil Onur - 2011
This paper analyzes how effective macroeconomic policy actions are in ending recessions. We also investigate which structural factors help the country to get out of recessions, in other words experience shorter recessions. We implement survival regression analysis and conclude that expansionary...
Persistent link: https://www.econbiz.de/10013120859
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Türkiye'ye Makro Ekonomik Etkileri Bakımından 2008 Küresel Krizi (2008 Global Crisis in Terms of Macro Economic Impacts in Turkey)
Aras, Osman Nuri - 2012
Bu çalışma ile 2008 küresel ekonomik krizinin Türkiye ekonomisini etkileme kanallarının, ülkenin makro ekonomik yapısının krizden etkilenme derecesinin ve ülkede yaşanan 2001 krizi sonrası ekonomik yapıda gerçekleştirilen çeşitli düzenlemelerin krizlere karşı başarı...
Persistent link: https://www.econbiz.de/10013097497
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Risk, intermediate input prices and missing deflation during the Great Recession
Kara, Engin; Pirzaday, Ahmed Jamal - 2015
During the Great Recession, despite the large fall in output, inflation did not fall much. This is known as the missing deflation puzzle. In this paper, we develop and estimate a New Keynesian Dynamic Stochastic General Equilibrium model to provide an explanation for the puzzle. The new model...
Persistent link: https://www.econbiz.de/10011389401
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Risk, intermediate input prices and missing deflation during the Great Recession
Kara, Engin; Pirzada, Ahmed Jamal - 2015
During the Great Recession, despite the large fall in output, inflation did not fall much. This is known as the missing deflation puzzle. In this paper, we develop and estimate a New Keynesian Dynamic Stochastic General Equilibrium model to provide an explanation for the puzzle. The new model...
Persistent link: https://www.econbiz.de/10011292980
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Central Bank Liquidity During the Financial Market and Economic Crisis : Observations, Thoughts and Questions
Pikkarainen, Pentti - 2011
​The paper concentrates on illustrating and assessing central banks' liquidity operations during the crisis that started in August 2007. In addition to the ECB, the central banks of Sweden, Switzerland, the United Kingdom, Australia, Japan, Canada and the United States are analyzed. During the...
Persistent link: https://www.econbiz.de/10013130409
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The Great Recession and its Aftermath from a Monetary Equilibrium Theory Perspective
Horwitz, Steven - 2020
Modern macroeconomists in the Austrian tradition can be divided into two groups: Rothbardians and monetary equilibrium (ME) theorists. It is from this latter perspective that we consider the events of the last few years. We argue that the primary source of business fluctuation is monetary...
Persistent link: https://www.econbiz.de/10012857494