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Existence and uniqueness of solutions to dynamic models with occasionally binding constraints.
Holden, Tom D. - 2016 - This version: 28 March 2016
nominal interest rates, even when agents believe that the central bank will eventually attain its long-run, positive inflation … target. This illustrates that a credible long-run inflation target does not render the Taylor principle sufficient for …
Persistent link: https://www.econbiz.de/10011452241
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Existence and uniqueness of solutions to dynamic models with occasionally binding constraints.
Holden, Tom D. - 2017 - This version: 23 August 2017
eventually attain its long-run, positive inflation target. This illustrates that a credible long-run inflation target does not … level targeting does restore determinacy providing agents believe that inflation will eventually be positive. …
Persistent link: https://www.econbiz.de/10011717372
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Computation of solutions to dynamic models with occasionally binding constraints.
Holden, Tom D. - 2016 - This version: 3 April 2016
We construct the first algorithm for the perfect foresight solution of otherwise linear models with occasionally binding constraints, with fixed terminal conditions, that is guaranteed to return a solution in finite time, if one exists. We also provide a proof of the inescapability of the "curse...
Persistent link: https://www.econbiz.de/10011452243
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Identification of Macroeconomic Factors in Large Panels
Bork, Lasse - 2009
This paper presents a dynamic factor model in which the extracted factors and shocks are given a clear economic interpretation. The economic interpretation of the factors is obtained by means of a set of over-identifying loading restrictions, while the structural shocks are estimated following...
Persistent link: https://www.econbiz.de/10013154051
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Identification of Macroeconomic Factors in Large Panels
Bork, Lasse - 2009
This paper presents a dynamic factor model in which the extracted factors and shocks are given a clear economic interpretation. The economic interpretation of the factors is obtained by means of a set of over-identifying loading restrictions, while the structural shocks are estimated following...
Persistent link: https://www.econbiz.de/10013155955
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A mathematical model for optimizing sales mark-up price and service charge in a profit-maximizing firm
Nwaeze, Emmanuel - In: International journal of economics, finance and … 3 (2015) 4, pp. 347-351
Persistent link: https://www.econbiz.de/10011390192
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A location-inventory-pricing model in a supply chain distribution network with price-sensitive demands and inventory-capacity constraints
Ahmadi-Javid, Amir; Hoseinpour, Pooya - In: Transportation research / E : an international journal 82 (2015), pp. 238-255
Persistent link: https://www.econbiz.de/10011410068
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Computation of solutions to dynamic models with occasionally binding constraints.
Holden, Tom D. - 2016 - This version: 30 July 2016
We construct the first algorithm for the perfect foresight solution of otherwise linear models with occasionally binding constraints, with fixed terminal conditions, that is guaranteed to return a solution in finite time, if one exists. We also provide a proof of the inescapability of the "curse...
Persistent link: https://www.econbiz.de/10011518454
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Optimal Monetary and Fiscal Policy : A Linear Quadratic Approach
Benigno, Pierpaolo; Woodford, Michael - 2021
We propose an integrated treatment of the problems of optimal monetary and fiscal policy, for an economy in which prices are sticky and the only available sources of government revenue are distorting taxes. Our linear-quadratic approach allows us to nest both conventional analyses of optimal...
Persistent link: https://www.econbiz.de/10013218299