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How should news shocks be specified under rational expectations?
Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick - 2017
A number of studies have found that news shocks account for a large part of the aggregate fl uctuations of the main macroeconomic variables.We show that when taking rational expectations into consideration there is a limit on the size of the variance of the news shocks,which has not been...
Persistent link: https://www.econbiz.de/10011758913
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Financial Shocks, Financial Frictions and Financial Intermediaries in DSGE Models : Comments on the Recent Literature
Arend, Mario - 2010
intermediaries in the Dynamic Stochastic General Equilibrium models (DSGE models) and to discuss the empirical evidence on the …
Persistent link: https://www.econbiz.de/10013142856
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Under the same (Chole)sky : DNK models, timing restrictions and recursive identification of monetary policy shocks
Angelini, Giovanni; Sorge, Marco M. - 2021
-based nonfundamentalness, thereby hampering shock identification via VAR methods. This notwithstanding, restricted DNK models are shown to …Recent structural VAR studies of the monetary transmission mechanism have voiced concerns about the use of recursive … feature (i) invertible equilibrium representations for the observables and (ii) fast-converging VAR coefficient matrices under …
Persistent link: https://www.econbiz.de/10012501242
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Chapter 2. Macroeconomic Shocks and Their Propagation
Ramey, V.A. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 71-162). 2016
the leading shock candidates can explain fluctuations in output and hours. It concludes that we are much closer to …
Persistent link: https://www.econbiz.de/10014024291
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The Chicago Fed DSGE Model
Brave, Scott A.; Campbell, Jeffrey R.; Fisher, Jonas D. M. - 2012
The Chicago Fed dynamic stochastic general equilibrium (DSGE) model is used for policy analysis and forecasting at the … accelerator mechanism. -- New Keynesian model ; DSGE ; forecasting ; policy analysis …
Persistent link: https://www.econbiz.de/10009581477
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The Chicago Fed DSGE Model
Brave, Scott A. - 2012
The Chicago Fed dynamic stochastic general equilibrium (DSGE) model is used for policy analysis and forecasting at the …
Persistent link: https://www.econbiz.de/10013101439
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The Chicago Fed DSGE model : version 2
Campbell, Jeffrey R.; Ferroni, Filippo; Fisher, Jonas D. M. - 2023
The Chicago Fed dynamic stochastic general equilibrium (DSGE) model is used for policy analysis and forecasting at the …
Persistent link: https://www.econbiz.de/10014369357
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Chapter 7. DSGE Models for Monetary Policy Analysis
Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - In: Handbook of monetary economics : volume 3, (pp. 285-367). 2010
Monetary DSGE models are widely used because they fit the data well and they can be used to address important monetary … policy questions. We provide a selective review of these developments. Policy analysis with DSGE models requires using data …
Persistent link: https://www.econbiz.de/10014025673
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The impact of monetary policy on inequality in the UK : an empirical analysis
Mumtaz, Haroon; Theophilopoulou, Angeliki - 2016
The UK has experienced a dramatic increase in earnings and income inequality over the past four decades. We use detailed micro level information to construct quarterly historical measures of inequality from 1969 to 2012. We investigate whether monetary policy shocks played a role in explaining...
Persistent link: https://www.econbiz.de/10011431334
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Monetary Policy and Inequality in the UK
Mumtaz, Haroon; Theophilopoulou, Angeliki - 2015
The UK has experienced a dramatic increase in earnings and income inequality over the past four decades. We use detailed micro level information to construct historical measures of inequality from 1968 to 2008. We study whether monetary policy shocks played a significant role in explaining this...
Persistent link: https://www.econbiz.de/10010480347