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Switching-track after the great recession
Vinci, Francesca; Licandro, Omar - 2021
We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10012533939
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Supply or demand? : policy makers' confusion in the pesence of hysteresis
Fatás, Antonio; Singh, Sanjay R. - 2022
aggregate demand policies. In this paper we study the case of a central bank that ignores the presence of hysteresis when … interaction between forecasts, policies and hysteresis creates the dynamics of self-perpetuating errors that is the focus of this …
Persistent link: https://www.econbiz.de/10013179263
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Monetary policy and hysteresis in potential output
Kienzler, Daniel; Schmid, Kai D. - 2013
potential output is subject to hysteresis. We augment a basic NewKeynesian model by hysteresis in potential output and contrast … simulation outcomes of this extended model to the standard model. We find that considering hysteresis allows for a more realistic …
Persistent link: https://www.econbiz.de/10009772964
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Monetary Policy and Hysteresis in Potential Output
Kienzler, Daniel - 2014
potential output is subject to hysteresis. We augment a basic New Keynesian model by hysteresis in potential output and contrast … simulation outcomes of this extended model to the standard model. We find that considering hysteresis allows for a more realistic …
Persistent link: https://www.econbiz.de/10013057385
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Monetary policy and hysteresis in potential output
Kienzler, Daniel; Schmid, Kai D. - 2013
potential output is subject to hysteresis. We augment a basic New Keynesian model by hysteresis in potential output and contrast … simulation outcomes of this extended model to the standard model. We find that considering hysteresis allows for a more realistic … active output gap stabilization arises from stability analyses and welfare considerations. -- Monetary Policy ; Hysteresis …
Persistent link: https://www.econbiz.de/10009736122
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Aggregate demand, sunk costs and discontinuous adjustments in an amended new consensus model
Bassi, Federico - In: Review of political economy 28 (2016) 3, pp. 313-335
Persistent link: https://www.econbiz.de/10011526324
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Rethinking macroeconomic theory before the next crisis
Lavoie, Marc - In: Review of Keynesian economics 6 (2018) 1, pp. 1-21
Persistent link: https://www.econbiz.de/10011868120
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Switching-track after the Great Recession
Vinci, Francesca; Licandro, Omar - 2021
Persistent link: https://www.econbiz.de/10012821859
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Hysteresis in potential output and monetary policy
Kienzler, Daniel; Schmid, Kai D. - 2013
Persistent link: https://www.econbiz.de/10010410454
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Influence of financial policy about the employment in Romania
Narcisa Roxana, Moşteanu - In: Budgetary research review : BRR 3 (2011) 1, pp. 3-19
This paper aims to examine the influence of the fiscal and budgetary policy to the labour market and how to determine the movement of filled employment positions from one period to another, the gross job creation, the gross job destruction, the job reallocation and the average job vacancies. The...
Persistent link: https://www.econbiz.de/10009580990