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Forecast uncertainty and the taylor rule

Bauer, Christian; Neuenkirch, Matthias - 2015

In this paper, we derive a modification of a forward-looking Taylor rule, which integrates two variables measuring the uncertainty of inflation and GDP growth forecasts into an otherwise standard New Keynesian model. We show that certainty-equivalence in New Keynesian models is a consequence of...

Persistent link: https://www.econbiz.de/10010512077

Forecast uncertainty and the Taylor rule

Bauer, Christian; Neuenkirch, Matthias - In: Journal of international money and finance 77 (2017), pp. 99-116

Persistent link: https://www.econbiz.de/10011788094

International housing returns around the financial crisis : disentangling credit supply and demand shocks

Campbell, Randall Charles; Roskelley, Kenneth Deon - In: Journal of real estate research : JRER ; a publication … 44 (2022) 2, pp. 219-253

Persistent link: https://www.econbiz.de/10013364980

External shocks, banks, and optimal monetary policy : a recipe for emerging market central banks

Mimir, Yasin; Sunel, Enes - In: International journal of central banking : IJCB 15 (2019) 2, pp. 235-299

Persistent link: https://www.econbiz.de/10012028270

Financial shocks, financial stability, and optimal Taylor rules

Verona, Fabio; Martins, Manuel Mota Freitas; Drumond, Inês - In: Journal of macroeconomics 54 (2017) 2, pp. 187-207

Persistent link: https://www.econbiz.de/10011926952

The bank lending channel in a simple macro model : how to extend the Taylor Rule?

Spahn, Peter - 2014

The growth and deepening of financial markets entailed the expectation that the bank lending channel of monetary policy transmission would lose its importance. The paper explains why, on the contrary, the banking sector has become a major locus of origination and amplification of macro-financial...

Persistent link: https://www.econbiz.de/10010430024

More or less aggressive? : robust monetary policy in a New Keynesian model with financial distress

Gerke, Rafael; Hammermann, Felix; Lewis, Vivien - 2009

This paper investigates the optimal monetary policy response to a shock to collateral when policymakers act under … constrained consumers. Our results confirm the literature on model uncertainty with respect to a cost-push shock. Insuring against … model misspecification leads to a more aggressive policy response. The same is true for a shock to collateral. A preference …