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This paper analyzes to what extent changes in monetary policy regimes influence the business cycle in a small open economy and investigates the impact of policy breaks on the estimation procedure. We estimate a DSGE model on Swedish data, explicitly taking into account the monetary regime change...
Persistent link: https://www.econbiz.de/10014225044
This paper analyzes to what extent changes in monetary policy regimes influence the business cycle in a small open economy and investigates the impact of policy breaks on the estimation procedure. We estimate a DSGE model on Swedish data, explicitly taking into account the monetary regime change...
Persistent link: https://www.econbiz.de/10013143709
The study looks at the cyclical behavior of the markups and assesses its impact on inflation dynamics. The analysis finds that the aggregate level of the private sector's markup is relatively high, thus pointing to the lack of strong competition in South Africa's product markets. Additionally,...
Persistent link: https://www.econbiz.de/10013120353
We present a pricing kernel that summarizes well the main features of the dynamics of interest rates and risk in postwar U.S. data and use it to uncover how the pricing kernel has moved with the short rate in this data. Our findings imply that standard monetary models miss an essential link...
Persistent link: https://www.econbiz.de/10013104844
The wave of crises that began in 2008 reheated the debate on market deregulation as a tool to improve economic performance. This paper addresses the consequences of increased flexibility in goods and labor markets for the conduct of monetary policy in a monetary union. We model a two-country...
Persistent link: https://www.econbiz.de/10013082164
This paper proposes a simple method to structurally estimate a model over a period of time containing a regime shift. It then evaluates to which degree it is relevant to explicitly acknowledge the break in the estimation procedure. We apply our method on Swedish data, and estimate a DSGE model...
Persistent link: https://www.econbiz.de/10013087230
The study looks at the cyclical behavior of the markups and assesses its impact on inflation dynamics. The analysis finds that the aggregate level of the private sector''s markup is relatively high, thus pointing to the lack of strong competition in South Africa''s product markets. Additionally,...
Persistent link: https://www.econbiz.de/10014398328
Persistent link: https://www.econbiz.de/10009388891
Persistent link: https://www.econbiz.de/10009269699
Persistent link: https://www.econbiz.de/10010230083