Similar Search Results

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

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

Identification of prior information via moment-matching

Sacht, Stephen - 2014

estimation of a standard hybrid New-Keynesian model. In particular, we shed a light on the impact of micro- and macropriors on … the estimation outcome. First, we investigate the impact of the transformation of those model parameters which are bounded …-stage estimation procedure – the so-called Moment-Matching based Bayesian (MoMBay) estimation approach – where we take the point …

Persistent link: https://www.econbiz.de/10010234025

Bayesian comparison of production function-based and time-series GDP models

Osiewalski, Jacek; Wróblewska, Justyna; Makieła, Kamil - In: Empirical economics : a journal of the Institute for … 58 (2020) 3, pp. 1355-1380

Persistent link: https://www.econbiz.de/10012219593

Chapter 2. Macroeconomic Shocks and Their Propagation

Ramey, V.A. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 71-162). 2016

This chapter reviews and synthesizes our current understanding of the shocks that drive economic fluctuations. The chapter begins with an illustration of the problem of identifying macroeconomic shocks, followed by an overview of the many recent innovations for identifying shocks. It then...

Persistent link: https://www.econbiz.de/10014024291

Monetary Policy, Output Composition and the Great Moderation

Mojon, Benoit - 2007

This paper shows how US monetary policy contributed to the drop in the volatility of US output fluctuations and to the decoupling of household investment from the business cycle. I estimate a model of household investment, an aggregate of non durable consumption and corporate sector investment,...

Persistent link: https://www.econbiz.de/10012729657

Estimating and accounting for the output gap with large Bayesian vector autoregressions

Morley, James C.; Wong, Benjamin - 2017

Persistent link: https://www.econbiz.de/10011747292

Semi-Structural VAR and Unobserved Components Models to Estimate Finance-Neutral Output Gap

Katay, Gabor; Lequien, Matthieu; Kerdeljué, Lisa - 2021

The paper assesses the impact of adding information on financial cycles on the output gap estimates for eight advanced economies using two unobserved components models: a reduced form extended Hodrick-Prescott filter, and a standard semi-structural unobserved components model. To complement...

Persistent link: https://www.econbiz.de/10013249925

Searching for hysteresis

Benati, Luca; Lubik, Thomas A. - 2021

Taking as data-generation process a standard DSGE model, we show via Monte Carlo that reliably detecting hysteresis, defined as the presence of aggregate demand shocks with a permanent impact on output, is a significant challenge, as model-consistent identification schemes (i) spuriously detect...

Persistent link: https://www.econbiz.de/10012520175

Can key interest rates decrease output gaps?

Stavytskyy, Andriy; Kharlamova, Ganna; Giedraitis, Vincentas - In: Investment management and financial innovations 17 (2020) 3, pp. 205-218

Persistent link: https://www.econbiz.de/10012406050

1
2
3
4
5
6
7
8
9
10
Next
Last