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Understanding persistent stagnation
Cuba-Borda, Pablo; Singh, Sanjay R. - 2019 - This version: February 2019
analytically compare expectations-driven stagnation to a secular stagnation episode and find contrasting policy implications for …
Persistent link: https://www.econbiz.de/10012004630
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Understanding persistent stagnation
Cuba-Borday, Pablo; Singhz, Sanjay R. - 2019 - This version: February 2019
analytically compare expectations-driven stagnation to a secular stagnation episode and find contrasting policy implications for …
Persistent link: https://www.econbiz.de/10012101362
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Long-run growth uncertainty
Kuang, Pei; Mitra, Kaushik - 2016
.g. output, output per hour) and a positive correlation between long-run growth expectations and cyclical activities. Existing … features comovement and mutual influence of households' growth expectations and market outcomes, which can replicate the … evidence, and suggests a critical role for shifting long-run growth expectations in business cycle fluctuations. …
Persistent link: https://www.econbiz.de/10012010392
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Monetary Policy Regime Switches and Macroeconomic Dynamics
Foerster, Andrew T. - 2014
variance. Even in periods with a fixed monetary policy rule, expectations of future policy switches produce different outcomes … to counteract expectations of future policy switches …
Persistent link: https://www.econbiz.de/10013063307
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Endogenous Growth, Monetary Shocks and Nominal Rigidities
Annicchiarico, Barbara; Pelloni, Alessandra; Rossi, Lorenza - 2010
We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth depends on the persistence of the nominal shocks and on the...
Persistent link: https://www.econbiz.de/10010343890
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Trend growth and learning about monetary policy rules
Tesfaselassie, Mewael F. - In: Journal of economic dynamics & control 41 (2014), pp. 241-256
Persistent link: https://www.econbiz.de/10010424915
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Trend growth and learning about monetary policy rules
Tesfaselassie, Mewael F. - 2011
rules. Under the expectations-based rule, trend growth reduces the scope for determinacy but it relaxes the conditions for …
Persistent link: https://www.econbiz.de/10009382996
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Innovation, Growth and Optimal Monetary Policy
Annicchiarico, Barbara - 2016
This paper examines how the mechanism driving growth in the economy is likely to affect the optimal monetary policy response to shocks. We consider the Ramsey policy in a New Keynesian model in which growth is sustained by the creation of new patented technologies through R&D and we compare the...
Persistent link: https://www.econbiz.de/10012995707
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Liquidity and Growth : The Role of Counter-Cyclical Interest Rates
Aghion, Philippe - 2015
In this paper, we use cross-industry, cross-country panel data to test whether industry growth is positively affected by the interaction between the reaction of real short-term interest rates to the business cycle and industry-level measures of financial constraints. Financial constraints are...
Persistent link: https://www.econbiz.de/10013028275
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Stabilization Policies and Long Term Growth : Policy Implications from an Agent-Based Macroeconomic Model
Harting, Philipp - 2015
Do fiscal stabilization policies affect the long-term growth of the economy? If so, are the long-term effects growth-enhancing or growth-reducing? These questions have again become relevant to the political and academic debate since governments have been forced to spend considerable funds for...
Persistent link: https://www.econbiz.de/10013020873