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Monetary policy, inflation target and the great moderation : an empirical investigation

Haque, Qazi - 2019

Persistent link: https://www.econbiz.de/10012207571

Monetary policy, inflation target and the Great Moderation : an empirical investigation

Haque, Qazi - 2019

Persistent link: https://www.econbiz.de/10012223995

Solving and Estimating Indeterminate DSGE Models

Farmer, Roger; Khramov, Vadim - International Monetary Fund (IMF) - 2013

We propose a method for solving and estimating linear rational expectations models that exhibit indeterminacy and we …

Persistent link: https://www.econbiz.de/10010790304

Bayesian local likelihood estimation of time-varying dsge models : allowing for indeterminacy

Wu, Jinshun; Wu, Luyao - In: Computational economics 64 (2024) 4, pp. 2437-2476

Persistent link: https://www.econbiz.de/10015144019

Indeterminacy of intertemporal equilibria under imperfect competition

Kaas, Leo - 2001

stationary equilibria. The reason of this indeterminacy is that different price expectation functions of consumers lead to … arbitrariness which is responsible for the indeterminacy, but that the continuum of stationary equilibria emerges even if …

Persistent link: https://www.econbiz.de/10009471633

Determinacy and learnability of monetary policy rules in small open economies

Llosa, Gonzalo; Tuesta, Vicente - 2006

managed exchange rate rules can help to alleviate problems of both indeterminacy and expectational instability, yet these …

Persistent link: https://www.econbiz.de/10010278266

Liquidity Traps, Learning and Stagnation

Evans, George W.; Guse, Eran; Honkapohja, Seppo - 2007

We examine global economic dynamics under learning in a New Keynesian model in which the interest-rate rule is subject to the zero lower bound. Under normal monetary and fiscal policy, the intended steady state is locally but not globally stable. Large pessimistic shocks to expectations can lead...

Persistent link: https://www.econbiz.de/10010260581

Is forward-looking inflation targeting destabilizing? The role of policy's response to current output under endogenous investment

Huang, Kevin X. D.; Meng, Qinglai - 2007

in response solely to future inflation induce real indeterminacy of equilibrium. Applying the Samuelson … by itself has a quantitatively negligible effect and almost all strict inflation-targeting rules lead to indeterminacy … stickiness, indeterminacy is much less likely to occur as policy also responds to output. With estimated labor supply elasticity …

Persistent link: https://www.econbiz.de/10010260586

Monetary equilibria in a cash-in-advance economy with incomplete financial markets

Bai, Jinhui H.; Schwarz, Ingolf - 2005

The general equilibrium model with incomplete financial markets (GEI) is extended by adding fiat money, fiscal and monetary policy and a cash-in-advance constraint. The central bank either pegs the interest rate or money supply while the fiscal authority sets a Ricardian or a non-Ricardian...

Persistent link: https://www.econbiz.de/10010264772

News Shocks or Correlated Sunspots? An Observational Equivalence Result in Linear Rational Expectations Model

Sorge, Marco M. - 2011

This paper studies identification of linear rational expectations models under news shocks. Exploiting the general martingale difference solution approach, we show that news shocks models are observationally equivalent to a class of indeterminate equilibrium frameworks which are subject only,...

Persistent link: https://www.econbiz.de/10011496157