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The New Keynesian approach to dynamic general equilibrium modeling : models, methods, and macroeconomic policy evaluation
Schmidt, Sebastian; Wieland, Volker - 2012
whether particular policy recommendations are robust to model uncertainty. Such robustness analysis is illustrated by …
Persistent link: https://www.econbiz.de/10010391304
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Uncovered interest parity with foreign exchange interventions under exchange rate peg and inflation targeting : the case of Ukraine
Grui, Anton - 2020
In this study, I modify the uncovered interest parity condition to account for foreign exchange interventions in the context of a small open economy. This is done in a framework of a semistructural New Keynesian model. I examine the case of Ukraine, which de facto transitioned to inflation...
Persistent link: https://www.econbiz.de/10012262254
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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
whether particular policy recommendations are robust to model uncertainty. Such robustness analysis is illustrated by …
Persistent link: https://www.econbiz.de/10014025269
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How effective is monetary policy at the zero lower bound? : identification through industry heterogeneity
Skaperdas, Arsenios - 2017
US monetary policy was constrained from 2008 to 2015 by the zero lower bound, during which the Federal Reserve would likely have lowered the federal funds rate further if it were able to. This paper uses industry-level data to examine how growth was affected. Despite the zero bound constraint,...
Persistent link: https://www.econbiz.de/10011710089
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The power of helicopter money revisited : a new Keynesian perspective
Carter, Thomas J.; Mendes, Rhys R. - 2020
We analyze money financing of fiscal transfers (helicopter money) in two simple New Keynesian models: a "textbook" model in which all money is non-interest-bearing (e.g., all money is currency), and a more realistic model with interest-bearing reserves. In the textbook model with only...
Persistent link: https://www.econbiz.de/10012159954
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Overview of the Macedonian Policy Analysis Model (MAKPAM)
Hlédik, Tibor; Bojceva Terzijan, Sultanija; Jovanovic, … - Narodna Banka na Republika Makedonija - 2016
This paper describes the Macedonian Policy Analysis Model (MAKPAM), which is used at the National Bank of the Republic of Macedonia (NBRM) for medium term macroeconomic forecasting and policy analysis. The MAKPAM is a medium scale, New Keynesian gap model that incorporates the key...
Persistent link: https://www.econbiz.de/10011623918
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Centering on economic construction to stabilize general socioeconomic conditions while fully promoting economic recovery : outlook, policy simulations, and reform implementation :...
Huang, Kevin X. D.; Tian, Guoqiang; Wang, Xiaowen - In: International studies of economics 18 (2023) 1, pp. 2-20
the year, rising income uncertainty set off by the pandemic shock continued depressing household consumption and housing …
Persistent link: https://www.econbiz.de/10014288667
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The effects of structural shocks on macroeconomic fundamentals under aggressive monetary policy : the case of Turkey
Güngör, Mahmut Sami; Güloğlu, Bülent - In: International journal of business and economic sciences … 12 (2019) 2, pp. 7-21
Purpose: This study aims to investigate the impact of aggressive monetary policy in terms of inflation on the effects of structural shocks over macroeconomic fundamentals in Turkey. For this purpose, we estimate the basic new Keynesian model by using the Bayesian method for the period of 2000Q1...
Persistent link: https://www.econbiz.de/10012239944
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Raising an inflation target : the Japanese experience with abenomics
De Michelis, Andrea; Iacoviello, Matteo - 2016
This paper draws from Japan's recent monetary experiment to examine the effects of an increase in the inflation target during a liquidity trap. We review Japanese data and examine through a VAR model how macroeconomic variables respond to an identified inflation target shock. We apply these...
Persistent link: https://www.econbiz.de/10011563011
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Raising an Inflation Target : The Japanese Experience with Abenomics
De Michelis, Andrea - 2016
This paper draws from Japan's recent monetary experiment to examine the effects of an increase in the inflation target during a liquidity trap. We review Japanese data and examine through a VAR model how macroeconomic variables respond to an identified inflation target shock. We apply these...
Persistent link: https://www.econbiz.de/10013210410