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Modest Macroeconomic Effects of Monetary Policy Shocks During the Great Moderation : An Alternative Interpretation

Castelnuovo, Efrem - 2016

Cholesky-VAR impulse responses estimated with post-1984 U.S. data predict modest macroeconomic reactions to monetary policy shocks. We interpret this evidence by employing an estimated medium-scale DSGE model of the business cycle as a DataGenerating Process in a Monte Carlo exercise in which a...

Persistent link: https://www.econbiz.de/10012981367

Endogenous Growth, Monetary Shocks and Nominal Rigidities

Annicchiarico, Barbara; Pelloni, Alessandra; Rossi, Lorenza - 2010

: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …

Persistent link: https://www.econbiz.de/10010343890

Essays in international macroeconomics

Scholl, Almuth - 2006

Persistent link: https://www.econbiz.de/10003315521

Great Moderation in the Japanese economy

Ko, Jun-hyung; Murase, Koichi - In: Japan and the world economy : international journal of … 27 (2013), pp. 10-24

Persistent link: https://www.econbiz.de/10010243010

Accounting for stability

Martin, Bill; Rowthorn, Bob - In: CESifo economic studies : CESifo, a joint initiative of … 51 (2005) 4, pp. 649-696

There is no consensus about the causes of the reduction in business cycle volatility seen in many major economies over … itself led to a reduction in the volatility of economic shocks. Our projections suggest that a number of major economies …

Persistent link: https://www.econbiz.de/10003229176