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Decomposing the output gap with inflation learning
Panovska, Irina; Ramamurthy, Srikanth - In: Journal of economic dynamics & control 136 (2022), pp. 1-23
Persistent link: https://www.econbiz.de/10013393796
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Measuring the output gap using stochastic model specification search
Chan, Joshua; Grant, Angelia L. - 2017
Persistent link: https://www.econbiz.de/10011748515
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Visualizing the Invisible: Estimating the New Keynesian Output Gap via a Bayesian Approach
Willems, Tim - 2009
As both the natural level of output and the New Keynesian output gap cannot be observed in practice, there is quite some debate on the question how these variables look like in practice. Rather than taking the standard approach of using a time trend or the HP-filter to obtain estimates of these...
Persistent link: https://www.econbiz.de/10010325777
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Visualizing the invisible : estimating the New Keynesian output gap via a Bayesian approach
Willems, Tim - 2010
As both the natural level of output and the New Keynesian output gap cannot be observed in practice, there is quite some debate on the question how these variables look like in practice. Rather than taking the standard approach of using a time trend or the HP-filter to obtain estimates of these...
Persistent link: https://www.econbiz.de/10011378920
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The macroeconomic effects of positive trend inflation in a small open economy
Yılmaz, Yusuf Ömür; Tunç, Gül Ipek - In: Applied economics 54 (2022) 3, pp. 234-248
Persistent link: https://www.econbiz.de/10012874029
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Bayesian multivariate Beveridge-Nelson decomposition of I(1) and I(2) series with cointegration
Murasawa, Yasutomo - In: Studies in nonlinear dynamics and econometrics : SNDE ; … 26 (2022) 3, pp. 387-415
Persistent link: https://www.econbiz.de/10013334834
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Monetary policy, trend inflation and inflation Persistence
Yao, Fang - 2011
This paper presents a new mechanism through which monetary policy rules affect inflation persistence. When assuming … the traditional demand channel of monetary transmission have a long-lasting effect on inflation dynamics. The Calvo model … around positive trend inflation. With realistic calibration of trend inflation and the monetary policy rule, the model can …
Persistent link: https://www.econbiz.de/10010281589
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Flattening of the Phillips curve under low trend inflation
Shirota, Toyoichiro - In: Economics letters 132 (2015), pp. 87-90
Persistent link: https://www.econbiz.de/10011431386
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Trend growth, unemployment and optimal monetary policy
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2015
We analyze the implications of changes in the trend growth rate for optimal monetary policy in the presence of search and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority, but that it interacts importantly with the inefficiencies...
Persistent link: https://www.econbiz.de/10011300631
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The most beautiful variations on fair wages and the Phillips Curve
Vaona, Andrea - In: Journal of money, credit and banking : JMCB 45 (2013) 6, pp. 1069-1084
Persistent link: https://www.econbiz.de/10010197533