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Dealing with a liquidity trap when government debt matters : optimal time-consistent monetary and fiscal policy ; conference paper

Burgert, Matthias; Schmidt, Sebastian - 2014

How does the need to preserve government debt sustainability affect the optimal monetary and fiscal policy response to a liquidity trap? To provide an answer, we employ a small stochastic New Keynesian model with a zero bound on nominal interest rates and characterize optimal time-consistent...

Persistent link: https://www.econbiz.de/10010486054

Heterogeneous expectations, optimal monetary policy, and the merit of policy inertia : conference paper

Gasteiger, Emanuel - 2014

The design and analysis of optimal monetary policy is usually guided by the paradigm of homogeneous rational expectations. Instead, we examine the dynamic consequences of implementation strategies, when the actual economy features expectational heterogeneity. Agents have either rational or...

Persistent link: https://www.econbiz.de/10010489292

Populism, economic policies and central banking

Agur, Itai; Gnan, Ernest; Masciandaro, Donato; Binder, … - Populism, Economic Policies and Central Banking …; … - 2020

Persistent link: https://www.econbiz.de/10012225066

Exchange rate and price dynamics at the zero lower bound : conference paper

Bäurle, Gregor; Kaufmann, Daniel - 2013

In this paper, we analyse nominal exchange rate and price dynamics after risk shocks with short-term interest rates … constrained by the zero lower bound (ZLB). We show with a stylized theoretical model that temporary risk shocks may lead to … the price level to a temporary risk shock are permanent. Our theoretical discussion shows that adopting a credible long …

Persistent link: https://www.econbiz.de/10010340556

Learning by doing in new firms and the optimal rate of inflation : conference paper

Weber, Henning - 2013 - Preliminary

Empirical data suggest that new firms tend to grow faster than incumbent firms in terms of their productivity. A sticky-price model with learning-by-doing in new firms fits this data and predicts that for plausible calibrations, the optimal long-run inflation rate is positive and between 0.5%...

Persistent link: https://www.econbiz.de/10010342838

What can break-even inflation rates tell us about the anchoring of inflation expectations in the Euro area? : conference paper

Lemke, Wolfgang; Strohsal, Till - 2013 - Preliminary

illiquidity or demand-supply imbalances, but not reflecting genuine inflation expectations and inflation risk premia. We estimate …

Persistent link: https://www.econbiz.de/10010341627

Central banking and monetary policy : what will be the post-crisis new normal?

Capie, Forrest; Cukierman, Alex; Haan, Jakob de; … - SUERF/BAFFI CAREFIN Centre Conference Central Banking …; … - 2016

fighting too low inflation; by prompting new ‘experimental’ non-conventional measures, which risk to cause large, long …

Persistent link: https://www.econbiz.de/10011554981

New paradigms in monetary theory and policy?

Balling, Morten (ed.); Orphanides, Athanasios (ed.) - New Paradigms in Money and Finance? <Veranstaltung> …; … - 2012

On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium "New Paradigms in Money and Finance?". All the papers in the present SUERF Study are based on...

Persistent link: https://www.econbiz.de/10011711450

Cross sectional evidence on the relation between monetary policy, macroeconomic conditions and low-frequency inflation uncertainty : conference paper

Conrad, Christian; Hartmann, Matthias - 2014 - Preliminary draft

In this study, we examine how the interaction between monetary policy and macroeconomic conditions affects inflation uncertainty in the long-term. The unobservable inflation uncertainty is quantified by means of the slowly evolving unconditional variance component of inflation in the framework...

Persistent link: https://www.econbiz.de/10010486628

Monetary policy rules

Taylor, John B. (ed.) - 1999

Persistent link: https://www.econbiz.de/10001353848

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