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Estimating the output gap after COVID : an application to Colombia
Granados, Camilo; Parra-Amado, Daniel - 2023
This study examines whether and how important it is to adjust output gap frameworks during the COVID-19 pandemic and similar unprecedentedly large-scale episodes. Our proposed modelling framework comprises a Bayesian Structural Vector Autoregresion with an identification setup based on a...
Persistent link: https://www.econbiz.de/10014232751
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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
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R* and convergence
Ertl, Martin; Rabitsch, Katrin - 2024
Europe: Poland, Czech Republic, Hungary and Romania. The estimation process is informed by empirical evidence about a rapid …
Persistent link: https://www.econbiz.de/10014529362
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What can earnings calls tell us about the output gap and inflation in Canada?
Gosselin, Marc-André; Taskin, Temel - 2023
We construct new indicators of the imbalance between demand and supply for the Canadian economy by using natural language processing techniques to analyze earnings calls of publicly listed firms. The results show that the text-based indicators are highly correlated with official inflation data...
Persistent link: https://www.econbiz.de/10014303896
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How the baby boomers' retirement wave distorts model-based output gap estimates
Wolters, Maik H. - 2016
Hours per capita measures based on the private sector as usually included in the set of observables for estimating macroeconomic models are affected by low-frequent demographic trends and sectoral shifts that cannot be explained by standard models. Further, model-based output gap estimates are...
Persistent link: https://www.econbiz.de/10011434261
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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, Rule-of-Thumb Consumers and External Habits: A G7 Comparison
Di Bartolomeo, Giovanni; Rossi, Lorenza; Tancioni, … - 2009
This paper extends the standard New Keynesian dynamic stochastic general equilibrium (DSGE) model to agents who cannot smooth consumption (i.e. spenders) and are affected by external consumption habits. Although these assumptions are not new, their joint consideration strongly affects some...
Persistent link: https://www.econbiz.de/10010343913
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Output gap estimation and monetary policy in China
Zhang, Chengsi; Zhang, Butan; Lu, Zhe; Murasawa, Yasutomo - In: Emerging markets finance & trade : a journal of the … 49 (2013), pp. 119-131
Persistent link: https://www.econbiz.de/10010258938
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Time-varying risk shocks and the zero lower bound
Strobel, Johannes; Lee, Gabriel S.; Salyer, Kevin Duff - 2019
This paper shows that increased volatility of Örm-level productivity can push the nominal interest rate to its lower bound with large amplification effects on macroeconomic aggregates. The framework combines a simple canonical Önancial accelerator model, time varying risk shocks, and a zero...
Persistent link: https://www.econbiz.de/10012231163
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The job search intensity supply curve : how labor market conditions affect job search effort
Schwartz, Jeremy - 2014
During the Great Recession of 2007, unemployment reached nearly 10 percent and the ratio of unemployment to open … extension in the length of time in which a claimant can collect unemployment insurance (UI) to 99 weeks, at an expense to date … search process. Parameter estimates of the structural model using a sample of unemployment spells from the National …
Persistent link: https://www.econbiz.de/10010403637