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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

Risk, intermediate input prices and missing deflation during the Great Recession

Kara, Engin; Pirzaday, Ahmed Jamal - 2015

Persistent link: https://www.econbiz.de/10011389401

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

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

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

The effect of heterogeneuous wage contracts on macroeconomic volatility in a financially fragile economy

Kim, Jongheuk - In: East Asian economic review 21 (2017) 2, pp. 167-197

I build a small open economy (SOE) dynamic stochastic general equilibrium (DSGE) model to investigate the effect of a …

Persistent link: https://www.econbiz.de/10011765066

Bidding behaviour in the ECB’s main refinancing operations during the financial crisis

Eisenschmidt, Jens; Hirsch, Astrid; Linzert, Tobias - European Central Bank - 2009

Liquidity provision through its repo auctions has been one of the main instrumentsof the European Central Bank (ECB) to address the recent tensions infinancial markets since summer 2007. In this paper, we analyse banks’ biddingbehaviour in the ECB’s main refinancing operations (MROs) during...

Persistent link: https://www.econbiz.de/10005866598

Intermediary balance sheets and the treasury yield curve

Du, Wenxin; Hébert, Benjamin; Li, Wenhao - 2022

We have documented a regime change in the U.S. Treasury market post-Global Financial Crisis (GFC). We first derived bounds on Treasury yields that account for dealer balance sheet costs, which we call the net short and net long curves. We show that actual Treasury yields moved from the net short...

Persistent link: https://www.econbiz.de/10013432953

THE POLITICS OF MONETARY POLICY

Alesina, Alberto; Stella, Andrea - National Bureau of Economic Research <Cambridge, Mass.> - 2010

In this paper we critically review the literature on the political economy of monetary policy, with aneye on the questions raised by the recent financial crisis. We begin with a discussion of rules versusdiscretion. We then examine the issue of Central Banks independence both in normal times and...

Persistent link: https://www.econbiz.de/10005870351

Die Rolle monetärer Variablen für die Geldpolitik vor, während und nach der Krise: Nicht nur für die EWU geltende Überlegungen

Seitz, Franz - 2012

Nach der jüngsten Finanz- und Wirtschaftskrise kamen verstärkt Forderungen auf, die Geldpolitik solle zur frühzeitigen Erkennung von Finanzmarktungleichgewichten verstärkt auf monetäre Variablen ihr Augenmerk richten. Der vorliegende Beitrag zeigt, dass diese Überlegung wohl begründet...

Persistent link: https://www.econbiz.de/10010310745