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Activist stabilization policy and inflation : the Taylor rule in the 1970s
Orphanides, Athanasios - 2002
A number of recent studies have suggested that activist stabilization policy rules responding to inflation and the output gap can attain simultaneously a low and stable rate of inflation as well as a high degree of economic stability. The foremost example of such a strategy is the policy rule...
Persistent link: https://www.econbiz.de/10009767123
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Monetary policy, inflation target and the Great Moderation : an empirical investigation
Haque, Qazi - 2019
Persistent link: https://www.econbiz.de/10012223995
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Do we really know that U.S. monetary policy was destabilizing in the 1970s?
Haque, Qazi; Groshenny, Nicolas; Weder, Mark - 2020
Persistent link: https://www.econbiz.de/10012320474
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Heterogeneous expectations, indeterminacy, and postwar US business cycles
Ilabaca, Francisco; Milani, Fabio - 2020
postwar US macroeconomic data can be explained as the outcome of passive monetary policy, indeterminacy, and sunspot … windows and allowing the parameters to fall both in the determinacy and indeterminacy regions. The estimates reveal large … the sample. The results confirm that macroeconomic data in the early windows are better explained by indeterminacy, while …
Persistent link: https://www.econbiz.de/10012200338
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BEMGIE : Belgian Economy in a Macro General and International Equilibrium model
De Walque, Gregory; Lejeune, Thomas; Rannenberg, Ansgar; … - 2023
This paper outlines the three-country New Keynesian Dynamic Stochastic General Equilibrium model of the National Bank of Belgium. The model is named BEMGIE for Belgian Economy in a Macro General and International Equilibrium model. It features imperfect market competition, standard real and...
Persistent link: https://www.econbiz.de/10014233574
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The exchange rate insulation puzzle
Corsetti, Giancarlo; Küster, Keith; Müller, Gernot J.; … - 2021
The notion that flexible exchange rates insulate a country from foreign shocks is well grounded in theory, from the classics (Meade, 1951; Friedman 1953), to the more recent open economy literature (Obstfeld and Rogo, 2000). We confront it with new evidence from Europe. Specifically, we study how...
Persistent link: https://www.econbiz.de/10012438341
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How important are global factors for understanding the dynamics of international capital flows?
Eller, Markus; Huber, Florian; Schuberth, Helene - 2018
We propose a dynamic factor model with time-varying parameters and stochastic volatility to analyze the relationship between global factors and country-specific capital flow dynamics. Studying a global sample of 43 countries from 1994 until 2015, we show that global co-movement of macroeconomic,...
Persistent link: https://www.econbiz.de/10011929696
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On Asymmetric Effects in a Monetary Policy Rule : The Case of Poland
Sznajderska, Anna - 2016
Asymmetric effects in a monetary policy rule could appear due to asymmetric preferences of the central bank or/and due to nonlinearities in the economic system. It might be suspected that monetary authorities are more aggressive to the inflation rate when it is above its target level than when...
Persistent link: https://www.econbiz.de/10013007871
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Do we really know that US monetary policy was destabilizing in the 1970s?
Haque, Qazi; Groshenny, Nicolas; Weder, Mark - 2018
Persistent link: https://www.econbiz.de/10012202235
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Do we really know that U.S. monetary policy was destabilizing in the 1970s?
Haque, Qazi; Groshenny, Nicolas; Weder, Mark - In: European economic review : EER 131 (2021), pp. 1-24
Persistent link: https://www.econbiz.de/10012692441