Narrow search
Showing 1 - 10 of 15,385
Cover Image
Forward-Looking Monetary Policy and Anticipated Shocks to Inflation
Kapinos, Pavel S. - 2011
This paper extends a standard New Keynesian model to describe the effects of anticipated shocks to inflation and forward-looking monetary policy. Using the data generated from this modified model suggests that overlooking these two factors in the standard Cholesky structural vector...
Persistent link: https://www.econbiz.de/10013123948
Cover Image
Optimal Monetary Policy When Inflation Dynamics are Uncertain and Non-Orthogonal to Shocks
Pinkwart, Nicolas - 2011
parameter and inflation shock. Moreover, the paper discusses this covariance in the light of the microfoundations of the hybrid …
Persistent link: https://www.econbiz.de/10013132404
Cover Image
Business cycles when consumers learn by shopping
Gutiérrez-Daza, Ángelo - 2024
Empirical evidence suggests consumers rely on their shopping experiences to form beliefs about inflation. In other words, they "learn by shopping". I introduce this empirical observation as an informational friction in the New Keynesian model and use it to study its consequences for the...
Persistent link: https://www.econbiz.de/10015069687
Cover Image
How to limit the spillover from the 2021 inflation surge to inflation expectations?
Dräger, Lena; Lamla, Michael; Pfajfar, Damjan - 2022
By providing numerical inflation projections. Many central banks currently face inflation well above their targets and with that the challenge to prevent spillovers on inflation expectations. We study the effect of different communication about the 2021 inflation surge on German consumers'...
Persistent link: https://www.econbiz.de/10012820929
Cover Image
How to limit the spillover from an inflation surge to inflation expectations
Dräger, Lena; Lamla, Michael; Pfajfar, Damjan - 2022
We study the effects of forward looking communication in an environment of rising inflation rates on German consumers' inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and long-term inflation expectations. This initial...
Persistent link: https://www.econbiz.de/10013278897
Cover Image
How to limit the spillover from the 2021 inflation surge to inflation expectations?
Dräger, Lena; Lamla, Michael; Pfajfar, Damjan - 2022
By providing numerical inflation projections. Many central banks currently face inflation well above their targets and with that the challenge to prevent spillovers on inflation expectations. We study the effect of different communication about the 2021 inflation surge on German consumers'...
Persistent link: https://www.econbiz.de/10012814490
Cover Image
How to limit the spillover from an inflation surge to inflation expectations?
Dräger, Lena; Lamla, Michael; Pfajfar, Damjan - 2023
We study the effects of forward-looking communication in an environment of rising inflation rates on German consumers' inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and long-term inflation expectations. This initial...
Persistent link: https://www.econbiz.de/10014247283
Cover Image
Identifying money and inflation expectation shocks on real oil prices
Benk, Szilárd; Gillman, Max - 2023
role played by inflation expectations and the money supply shocks during major oil shock episodes. These shocks partially … replace roles previously attributed to the precautionary oil demand shock and the aggregate demand shock during the three … major oil shock periods of the 1970s-1980s, post-2008 and during the 2020-2021 pandemic. The results show that both real oil …
Persistent link: https://www.econbiz.de/10014295388
Cover Image
The role of long-term inflation expectations for the transmission of monetary policy shocks
Diegel, Max; Nautz, Dieter - 2020 - This version: November 10, 2020
monetary policy shock. In line with a re-anchoring channel of monetary policy, we find that long-term inflation expectations …
Persistent link: https://www.econbiz.de/10012311576
Cover Image
Less bang for the buck? : assessing the role of inflation uncertainty for U.S. monetary policy transmission in a data rich environment
Herwartz, Helmut; Rohloff, Hannes - 2018
We investigate the relationship between inflation uncertainty and monetary policy transmission in the U.S. economy. Monetary policy shocks are identified within the framework of nonlinear structural factor-augmented VARs which allow us to analyze several complementary hypotheses connecting IU...
Persistent link: https://www.econbiz.de/10011931106