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Is deflation costly after all? : the perils of erroneous historical classifications

Kaufmann, Daniel - 2017 - This version: 1 September 2017

Measurement error in historical data distorts descriptive analyses based on binary classifications. Modern replications … of deficiencies in retrospective CPI estimates for the 19th century show that measurement issues cause misclassification …. Using various approaches to control for measurement error in 19th century US CPI data, a series of stylized facts emerge: (i …

Persistent link: https://www.econbiz.de/10011749393

The risk spread, investment, and monetary policy transmission : evidence on the role of asymmetric information

Schaller, Huntley; Ng, Serena - 1993 - Rev

Persistent link: https://www.econbiz.de/10000858898

Corporate investment and shadow banking channel of monetary policy

Jiang, Bo; Fu, Liang - In: Emerging markets review 67 (2025), pp. 1-15

Persistent link: https://www.econbiz.de/10015412142

Risk Management-Driven Policy Rate Gap

Caggiano, Giovanni; Castelnuovo, Efrem; Nodari, Gabriela - 2018

We employ real-time data available to the US monetary policy makers to estimate a Taylor rule augmented with a measure of financial uncertainty over the period 1969-2008. We find evidence in favor of a systematic response to financial uncertainty over and above that to expected inflation, output...

Persistent link: https://www.econbiz.de/10014112207

Risk Management-Driven Policy Rate Gap

Caggiano, Giovanni - 2018

Persistent link: https://www.econbiz.de/10012914111

Effect of monetary-fiscal policies interaction on price and output growth in Nigeria

Musa, Yakubu; Asare, Barfour K.; Gulumbe, Shehu U. - In: CBN journal of applied statistics 4 (2013) 1, pp. 55-74

This paper investigates the effectiveness of monetary-fiscal policies interaction on price and output growth in Nigeria. The dynamic correlations of variables have been captured by the analyses of impulse response and variance decomposition. From innovation analyses, the results suggest that the...

Persistent link: https://www.econbiz.de/10011474838

The art of paradigm maintenance : how the New Keynesian "science of monetary policy" tries to deal with the inflation of 2021-2023

Storm, Servaas - In: European journal of economics and economic policies : … 21 (2024) 2, pp. 248-278

The macroeconomic models used by major institutions including the Federal Reserve and the International Monetary Fund (IMF) failed to predict the inflation surge during 2021-2023. The output gap, the unemployment gap, the New Keynesian Phillips curve and inflation expectations did not give...

Persistent link: https://www.econbiz.de/10015057216

Is deflation costly after all? : evidence from noisy historical data

Kaufmann, Daniel - 2016 - This version: 28 November 2016

I study the link between real activity and deflation, taking into account measurement problems in 19th century CPI data …. Replications based on modern data show that measurement problems spuriously increase the volatility of inflation as well as the … substantially lower during 19th century deflations in the US, after controlling for measurement error using an IV …

Persistent link: https://www.econbiz.de/10011573259

Long-term investment, the cost of capital and the dividend and buyback puzzle

Blundell-Wignall, Adrian; Roulet, Caroline - In: Financial market trends (2013) 104, pp. 39-52

Persistent link: https://www.econbiz.de/10010200916

Firm Value, Investment and Monetary Policy

Bianconi, Marcelo - 2011

This paper presents empirical evidence supporting the view that US monetary conditions matter for firms in the global capital market. We show the effects of three risk measures, domestic bank interest rates spreads, US bank interest rates spread, and US market price of interest rate risk on the...

Persistent link: https://www.econbiz.de/10013133706