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Oil dependency of the Russian economy : an econometric analysis
Benedictow, Andreas; Fjærtoft, Daniel; Løfsnæs, Ole - In: Economic modelling 32 (2013), pp. 400-428
Persistent link: https://www.econbiz.de/10009762145
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The New Keynesian approach to dynamic general equilibrium modeling : models, methods, and macroeconomic policy evaluation
Schmidt, Sebastian; Wieland, Volker - 2012
This chapter aims to provide a hands-on approach to New Keynesian models and their uses for macroeconomic policy analysis. It starts by reviewing the origins of the New Keynesian approach, the key model ingredients and representative models. Building blocks of current-generation dynamic...
Persistent link: https://www.econbiz.de/10010391304
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Chapter 22. The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods and Macroeconomic Policy Evaluation
Schmidt, Sebastian; Wieland, Volker - In: Handbook of computable general equilibrium modeling : …, (pp. 1439-1512). 2013
This chapter aims to provide a hands-on approach to New Keynesian models and their uses for macroeconomic policy analysis. It starts by reviewing the origins of the New Keynesian approach, the key model ingredients and representative models. Building blocks of current-generation dynamic...
Persistent link: https://www.econbiz.de/10014025269
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Optimal deficit-spending in a liquidity trap with long-term government debt
De Beauffort, Charles - 2022
When the government issues long-term bonds, the optimal time-consistent fiscal and monetary policy is to consolidate debt in a liquidity trap by increasing taxes and by taming public spending. This prescription is at odds with large deficit-spending undertaken in the US during previous liquidity...
Persistent link: https://www.econbiz.de/10013278929
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Myths and maths: Macroeconomic effects of fiscal adjustments in Hungary
Horváth, Ágnes; Jakab, Zoltán M.; Kiss, Gábor P.; … - 2006
In this paper we investigate the possible effects of fiscal tightening in Hungary from two perspectives. First, simulations in an estimated neo-Keynesian model are used to characterise the effects of different scenarios for fiscal consolidations. We show that the composition of fiscal shocks is...
Persistent link: https://www.econbiz.de/10010322394
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Myths and maths: macroeconomic effects of fiscal adjustments in Hungary
Horváth, Ágnes; Jakab, M. Zoltán; Kiss, Gábor P.; … - 2006
In this paper we investigate the possible effects of fiscal tightening in Hungary from two perspectives. First, simulations in an estimated neo-Keynesian model are used to characterise the effects of different scenarios for fiscal consolidations. We show that the composition of fiscal shocks is...
Persistent link: https://www.econbiz.de/10003347824
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Synergies between Monetary and Macroprudential Policies in Thailand
Fukunaga, Ichiro - 2020
A dynamic stochastic general equilibrium (DSGE) model tailored to the Thai economy isused to explore the performance of alternative monetary and macroprudential policy ruleswhen faced with shocks that directly impact the financial cycle. In this context, the modelshows that a monetary policy...
Persistent link: https://www.econbiz.de/10012829281
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Modeling macroeconomic policymakers' interactions under zero lower bound environment : the new Keynesian theoretical approach
Praščević, Aleksandra; Ješić, Milutin - In: Journal of central banking theory and practice 8 (2019) 1, pp. 5-38
The paper examines how the implicit coordination mechanisms between the policymakers could help in overcoming negative macroeconomic consequences which are provoked by the problem of zero lower bound (ZLB) on the nominal interest rates. For the long period of time, before the global recession...
Persistent link: https://www.econbiz.de/10011965148
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Commodities and monetary policy : implications for inflation and price level targeting
Coletti, Donald; Lalonde, René; Masson, Paul R.; Muir, Dirk - 2012
We examine the relative ability of simple inflation targeting (IT) and price level targeting (PLT) monetary policy rules to minimize both inflation variability and business cycle fluctuations in Canada for shocks that have important consequences for global commodity prices. We find that...
Persistent link: https://www.econbiz.de/10009546871
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The Bank of Russia at the Crossroads : Does the Monetary Policy Needs Easing
Goryunov, Eugene - 2013
different sorts of monetary stimulus. Thus it is sometimes argued that Russia should better use such kind of experience and … monetary easing policy implemented in advanced economies and also ignores the differences between Russia and advanced countries … economies: sizable cyclical recession and “zero lower bound” problem. Since none of these is present in Russia there's no reason …
Persistent link: https://www.econbiz.de/10013081656