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A monetary Minsky model of the Great Moderation and the Great Recession
Keen, Steve - In: Journal of economic behavior & organization : JEBO 86 (2013), pp. 221-235
Persistent link: https://www.econbiz.de/10009726189
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The stability of normal equilibrium point and the existence of limit cycles in a simple Keynesian macrodynamic model of monetary policy
Asada, Tōichirō; Demetrian, Michal; Zimka, Rudolf - In: Essays in economic dynamics : theory, simulation …, (pp. 145-162). 2016
Persistent link: https://www.econbiz.de/10011559240
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Government and central bank interaction under uncertainty : a differential games approach
Engwerda, Jacob Christiaan; Mahmoudinia, Davoud; … - In: Iranian economic review : journal of University of Tehran 20 (2016) 2, pp. 225-259
Persistent link: https://www.econbiz.de/10011582457
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Studying international spillovers in a New Keynesian continuous time framework with financial markets
Hayo, Bernd; Niehof, Britta - 2013 - This version September 10, 2013
In light of the recent financial and real economic crisis, it seems clear that macroeconomists need to better account for the influence of financial markets. This paper explores the consequences of treating the interaction between different financial markets, monetary policy, and the real...
Persistent link: https://www.econbiz.de/10010126892
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Spillover effects in government bond spreads : evidence from a GVAR model
Niehof, Britta - 2014 - This version: November 27, 2014
This paper analyses the main drivers of sovereign bond spreads in a globalised world. Specifically, we account for international spillovers of bond spreads by adding an additional driver, namely, financial markets, and allowing interactions across countries and markets. We contribute to the VAR...
Persistent link: https://www.econbiz.de/10010434572
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Understanding Markov-switching rational expectations models
Farmer, Roger E.A.; Waggoner, Daniel F.; Zha, Tao - 2009
We develop a set of necessary and sufficient conditions for equilibria to be determinate in a class of forward-looking Markov-switching rational expectations models, and we develop an algorithm to check these conditions in practice. We use three examples, based on the new Keynesian model of...
Persistent link: https://www.econbiz.de/10010292280
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Fiscal rules and monetary policy in a dynamic stochastic general equilibrium model
Kremer, Jana - 2004
the conditions for monetary policy to secure stability and determinacy of the model's equilibrium depend on the fiscal … rates, the range of values of the monetary policy parameter that ensures stability and determinacy change significantly. …
Persistent link: https://www.econbiz.de/10010295662
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Monetary policy, indeterminacy and learning
Evans, George W.; McGough, Bruce - 2003
The development of tractable forward looking models of monetary policy has lead to an explosion of research on the implications of adopting Taylor-type interest rate rules. Indeterminacies have been found to arise for some specifications of the interest rate rule, raising the possibility of...
Persistent link: https://www.econbiz.de/10010298274
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Monetary Union Stability: The Need for a Government Banker and the Case for a European Public Finance Authority
Palley, Thomas I. - 2011
This paper argues monetary union stability requires a government banker that manages the bond market and it offers a … countries which creates unsustainable debt burdens. Remedying this problem requires a central bank that acts as government … European Public Finance Authority (EPFA) that issues public debt which the European Central Bank (ECB) is allowed to trade. The …
Persistent link: https://www.econbiz.de/10010460501
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Monetary union stability : the need for a government banker and the case for a European public finance authority
Palley, Thomas I. - 2011
This paper argues monetary union stability requires a government banker that manages the bond market and it offers a … countries which creates unsustainable debt burdens. Remedying this problem requires a central bank that acts as government … European Public Finance Authority (EPFA) that issues public debt which the European Central Bank (ECB) is allowed to trade. …
Persistent link: https://www.econbiz.de/10009530412