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Optimal monetary policy in a model with agency costs
Carlstrom, Charles T.; Fuerst, Timothy S.; Paustian, … - In: Journal of money, credit and banking : JMCB 42 (2010), pp. 37-70
Persistent link: https://www.econbiz.de/10008757930
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The bank, the bank-run, and the central bank : the impact of early deposit withdrawals in a new Keynesian framework
Totzek, Alexander (contributor) - 2008
Currently, private trust in commercial banks declines as a consequence of today’s financial crisis. As past crises, e.g. the Asian crisis, show, the loss of confidence in the financial sector typically causes private agents to withdraw their capital from financial institutions. Thus, the...
Persistent link: https://www.econbiz.de/10003794089
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On the non-optimality of information : an Analysis of the welfare effects of anticipated shocks in the New Keynesian model
Wohltmann, Hans-Werner (contributor);  … - 2008
This paper compares the welfare effects of anticipated and unanticipated cost-push shocks in the canonical New Keynesian model with optimal monetary policy. We find that, for empirically plausible degrees of nominal rigidity, the anticipation of a future cost-push shock leads to a higher welfare...
Persistent link: https://www.econbiz.de/10003794092
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Labor turnover costs, workers' heterogeneity and optimal monetary policy
Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2009
We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are … zero and the optimal volatility of inflation is an increasing function of firing costs. The optimal rule should react to … employment alongside inflation. -- Optimal monetary policy ; hiring and firing costs ; labor market frictions ; policy trade-off …
Persistent link: https://www.econbiz.de/10003864487
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Learning about monetary policy rules when the cost-channel matters
Llosa, Luis-Gonzalo; Tuesta R., Vicente - In: Journal of economic dynamics & control 33 (2009) 11, pp. 1880-1896
Persistent link: https://www.econbiz.de/10003888577
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The Bank of Japan's operating procedures and the identification of monetary policy shocks : a reexamination using the Bernanke-Mihov approach
Nakashima, Kiyotaka - In: Journal of the Japanese and international economies : … 20 (2006) 3, pp. 406-433
Persistent link: https://www.econbiz.de/10003374297
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Bank behavior and the cost channel of monetary transmission
Hülsewig, Oliver (contributor); Mayer, Eric (contributor);  … - 2006
Persistent link: https://www.econbiz.de/10003377604
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Monetary persistence and the labor market : a new perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2010
model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to … the standard search and matching model. -- monetary persistence ; labor market ; hiring and firing costs …
Persistent link: https://www.econbiz.de/10003937114
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Monetary persistence and the labor market : a new perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - In: Journal of economic dynamics & control 34 (2010) 5, pp. 968-983
Persistent link: https://www.econbiz.de/10003973007
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Optimal monetary policy in a hybrid New Keynesian model with a cost channel
Bask, Mikael (contributor) - 2007
Persistent link: https://www.econbiz.de/10003590937