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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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Evaluating the unconventional monetary policy of the bank of Japan : a DSGE approach
Wang, Rui - In: Journal of risk and financial management : JRFM 14 (2021) 6, pp. 1-18
. Considering the scarce research in this field from a structural macroeconomic model approach, a medium-scale New Keynesian DSGE …
Persistent link: https://www.econbiz.de/10012588104
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Bank contagion in general equilibrium
Ferrari, Massimo Minesso - 2020
In this paper, I incorporate a complex network model into a state of the art stochastic general equilibrium framework with an active interbank market. Banks exchange funds one another generating a complex web of interbanking relations. With the tools of network analysis it is possible to study...
Persistent link: https://www.econbiz.de/10012241220
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Leaning against the wind policies on Vietnam's economy with DSGE model
Huynh, Phuc; Nguyen, Trang; Duong, Thanh; Pham, Duc - In: Economies : open access journal 5 (2017) 1, pp. 1-18
model (DSGE) to find a better way to understand how policies stabilize the Vietnamese economy. Based on the framework of …
Persistent link: https://www.econbiz.de/10011610450
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Asymmetric macro-financial spillovers
Bluwstein, Kristina - 2017
estimate a non-linear DSGE model with a heterogeneous banking sector and an occasionally binding borrowing constraint. The …
Persistent link: https://www.econbiz.de/10011617592
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Using structural models to understand macroeconomic tail risks : report of the WGEM-WGF Expert Group on Macro-at-Risk
Montes-Galdón, Carlos; Ajevskis, Viktors; Brázdik, … - 2024
reviews the various extensions to dynamic stochastic general equilibrium (DSGE) models and the computational challenges … developments, such as deep learning, to solve non-linear versions of DSGEs. The second part shows how the New Keynesian DSGE model … a medium-sized DSGE highlights the importance of foreign financial shocks and financial frictions, respectively. Other …
Persistent link: https://www.econbiz.de/10015084449
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The Financial Crisis and the Changing Dynamics of the Yield Curve
Bech, Morten L.; Lengwiler, Yvan - 2012
We present evidence on the changing dynamics of the yield curve from 1998 to 2011. We identify four different phases. As expected, the financial crisis represents a period of elevated yield volatility, but it can be split into two distinct periods. The split occurs when the Federal Reserve...
Persistent link: https://www.econbiz.de/10011390671
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Die Auswirkungen der Geldmenge und des Kreditvolumens auf die Immobilienpreise: Ein ARDL-Ansatz für Deutschland
Belke, Ansgar - 2009
Die aktuellen Finanzmarktturbulenzen wurden durch Entwicklungen im Immobiliensektor ausgelöst. Vor diesem Hintergrund analysiert dieser Beitrag den Zusammenhang zwischen den Immobilienpreisen und der Geldmengen- und Kreditvolumensentwicklung für den Zeitraum 1992 -2006 (westdeutsche...
Persistent link: https://www.econbiz.de/10010327318
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Optimal Policy for Macro-Financial Stability
Benigno, Gianluca; Chen, Huigang; Otrok, Christopher; … - 2012
This paper studies whether policymakers should wait to intervene until a financial crisis strikes or rather act in a preemptive manner. This question is examined in a relatively simple dynamic stochastic general equilibrium model in which crises are endogenous events induced by the presence of...
Persistent link: https://www.econbiz.de/10010328061