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prices: inflation and interest rates. Disagreement about GDP growth intensifies strongly during recessions. Disagreement … suggest that credible monetary policy contributes to anchoring of expectations about inflation and interest rates …
Persistent link: https://www.econbiz.de/10011009937
Many studies document that the inflation rate is governed by persistent trend shifts and time-varying uncertainty about … trend inflation. As both these quantities are unobserved, a forecaster has to learn about changes in trend inflation by a … inflation and it provides an efficient way to solve the signal extraction problem. I test whether this model provides a good fit …
Persistent link: https://www.econbiz.de/10010617297
Recently, a new class of macroeconomic business cycle models has emerged. Stochastic dynamic general equilibrium models with rational expectations originally employed by RBC researchers are combined with nominal rigidities and imperfect competition traditionally highlighted by New Keynesian...
Persistent link: https://www.econbiz.de/10010752473
Recently, a new class of macroeconomic business cycle models has emerged. Stochastic dynamic general equilibrium models with rational expectations originally employed by RBC researchers are combined with nominal rigidities and imperfect competition traditionally highlighted by New Keynesian...
Persistent link: https://www.econbiz.de/10010752515
We investigate the size of the multiplier at the ZLB in a New Keynesian model. It ranges from around −0.25 to +1.5, depending on the extent to which the government spending is productive, substitutable or not for private consumption.
Persistent link: https://www.econbiz.de/10011041655
States in taking inflation into account when calculating Old Age and Survivor Insurance (OASI) Benefits. Because of the … receives an annual benefit more than $1,800 larger than would have been generated with full indexing. While the inflation …-run financial instability for the OASI trust fund in periods of substantial inflation or deflation. They make the percentage …
Persistent link: https://www.econbiz.de/10010298623
This paper examined the impact of fiscal deficit on inflation in Namibia. The paper employed Autoregressive Distributed … evidence of a long run positive effect of fiscal deficit on inflation in Namibia. This suggests that fiscal deficit has a … direct effect on inflation in Namibia. The study also found a unidirectional causality running from fiscal deficit to …
Persistent link: https://www.econbiz.de/10014558455
Persistent link: https://www.econbiz.de/10014334676
Persistent link: https://www.econbiz.de/10014334697
Persistent link: https://www.econbiz.de/10014334700