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Macroeconomic effects of gender discrimination
Neyer, Ulrike; Stempel, Daniel - 2019
This paper theoretically analyzes the macroeconomic effects of gender discrimination against women in the labor market in a New Keynesian model. We extend standard frameworks by including unpaid household production in addition to paid labor market work, by assuming that the representative...
Persistent link: https://www.econbiz.de/10012062713
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Testing the Monetary Policy Implications of the Accelerationist Phillips Curve
Herz, Bernhard - 2007
The issue of the backward-looking versus the forward-looking Phillips curve is still an open question in the macroeconomics profession. We identify the real output effects of monetary policy shocks as a crucial implication of the traditional Phillips curve. The backward-looking Phillips curve...
Persistent link: https://www.econbiz.de/10012776423
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The role of inflation target adjustment in stabilization policy
Eo, Yunjong; Lie, Denny - 2017
Persistent link: https://www.econbiz.de/10011747869
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Debunking the granular origins of aggregate fluctuations : from real business cycles back to Keynes
Dosi, Giovanni; Napoletano, Mauro; Roventini, Andrea; … - 2018
In this work we study the granular origins of business cycles and their possible underlying drivers. As shown by Gabaix (2011), the skewed nature of firm size distributions implies that idiosyncratic (and independent) firm-level shocks may account for a significant portion of aggregate...
Persistent link: https://www.econbiz.de/10011873811
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The effects of structural shocks on macroeconomic fundamentals under aggressive monetary policy : the case of Turkey
Güngör, Mahmut Sami; Güloğlu, Bülent - In: International journal of business and economic sciences … 12 (2019) 2, pp. 7-21
prior distribution of structural parameters and shock processes are determined according to the literature. Then, we … consistent with theoretical framework of the new Keynesian synthesis. Besides, the historical shock decompositions of endogenous … monetary policy increases the effects of monetary policy shock on inflation while its impact on output gap and interest rate …
Persistent link: https://www.econbiz.de/10012239944
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The Effects of Structural Shocks on Macroeconomic Fundamentals under Aggressive Monetary Policy : The Case of Turkey
Gungor, Mahmut Sami; Güloğlu, Bülent - 2021
prior distribution of structural parameters and shock processes are determined according to the literature. Then, we … consistent with theoretical framework of the new Keynesian synthesis. Besides, the historical shock decompositions of endogenous … monetary policy increases the effects of monetary policy shock on inflation while its impact on output gap and interest rate …
Persistent link: https://www.econbiz.de/10013218037
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Uncertainty about Federal Reserve policy and Its transmission to emerging economies : evidence from Twitter
Tillmann, Peter - 2016
It is well known that a tightening or easing of the United States' monetary policy affects financial markets in emerging economies. This paper argues that uncertainty about future monetary policy is a separate transmission channel. We focus on the taper tantrum episode in 2013, a period with an...
Persistent link: https://www.econbiz.de/10011546623
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Forward guidance matters : disentangling monetary policy shocks
Ferreira, Leonardo Nogueira - 2020
Central banks have usually employed short-term rates as the main instrument of monetary policy. In the last decades, however, forward guidance has also become a central tool for monetary policy. In an innovative way this paper combines two sources of extraneous information - high frequency...
Persistent link: https://www.econbiz.de/10012295693
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The scarring effects of deep contractions
Aikman, David; Drehmann, Mathias; Juselius, Mikael; … - 2022
We find that deep contractions have highly persistent scarring effects, depressing the level of GDP at least a decade hence. Drawing on a panel of 24 advanced and emerging economies from 1970 to the present, we show that these effects are nonlinear and asymmetric: there is no such persistence...
Persistent link: https://www.econbiz.de/10013382160
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The current account and monetary policy in the euro area
Schuler, Tobias; Sun, Yiqiao - 2022
We investigate the factors driving current account and monetary policy developments in the euro area. We estimate an open-economy structural vector autoregression (VAR) model with zero and sign restrictions derived from a multi-country dynamic stochastic general equilibrium (DSGE) model to...
Persistent link: https://www.econbiz.de/10013329445