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Is increased price flexibility stabilizing? : redux

Bhattarai, Saroj; Eggertsson, Gauti B.; Schoenle, Raphael - 2012

equilibrium (DSGE) model. First, using a simplified version of the model, we show analytically that the results depend on the …-scale DSGE model using post-WWII U.S. data and Bayesian methods and, conditional on the estimates of structural parameters and … flexibility ; aggregate volatility ; systematic monetary policy ; DSGE model ; Bayesian estimation …

Persistent link: https://www.econbiz.de/10009521652

Dynamic effects of monetary policy shocks on macroeconomic volatility

Mumtaz, Haroon; Theodoridis, Konstantinos - 2018

We develop a VAR that allows the estimation of the impact of monetary policy shocks on volatility. Estimates for the US suggest that an increase in the policy rate by 1% is associated with a rise in unemployment and inflation volatility of about 15%. Using a New Keynesian model, with search and...

Persistent link: https://www.econbiz.de/10011928806

Is Increased Price Flexibility Stabilizing? Redux

Bhattarai, Saroj - 2012

Persistent link: https://www.econbiz.de/10013111575

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

The role of fiscal policy : a survey of recent empirical findings

Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick - 2023

DSGE models based on New Keynesian principles, which have been extended to allow for banking, the zero lower bound on …

Persistent link: https://www.econbiz.de/10014433366

Fiscal Rules and Monetary Policy in a Dynamic Stochastic General Equilibrium Model

Kremer, Jana - 2016

Persistent link: https://www.econbiz.de/10012991349

Heterogeneity in staggered wage bargaining and unemployment volatility puzzle

Kara, Engin; Park, Yongmin - 2017

It has been noted that the search and matching model cannot account for the observed unemployment fluctuations. Gertler and Trigari (2009) show this weakness of the model disappears when wage stickiness is introduced to the model. Pissarides (2009) disagrees with this modification, arguing that...

Persistent link: https://www.econbiz.de/10011669046

Policy and Spillover Analysis in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - 2014

This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of nominal and real rigidities, extensive macrofinancial linkages, and diverse spillover...

Persistent link: https://www.econbiz.de/10013040410

Policy Analysis and Forecasting in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - 2014

This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model encompasses an approximate linear panel dynamic stochastic general equilibrium model featuring a monetary transmission...

Persistent link: https://www.econbiz.de/10013060545

Managing households' expectations with unconventional policies

D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2021

Binding lower bounds on interest rates and large government deficits limit the scope of fiscal and monetary policies to stimulate households' spending through financial intermediaries and firms. Policymakers have thus been implementing unconventional policies that aim to increase households'...

Persistent link: https://www.econbiz.de/10012490917