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Evaluating monetary policy options for managing resource revenue shocks when fiscal policy is laissez-faire : application to Nigeria

Chuku, Chuku Agbai - 2016

This study considers the implications of alternative monetary policy regimes to deal with a laissez-faire fiscal policy rule, where the government completely spends resource revenue windfall contemporaneously. A three sector dynamic stochastic general equilibrium model, which features key...

Persistent link: https://www.econbiz.de/10011456170

Some evolutionary foundations for price level rigidity

Saint-Paul, Gilles - 2002

This paper shows that price rigidity evolves in an economy populated by imperfectly rational agents who experiment with alternative rules of thumb. In the model, firms must set their prices in face of aggregate demand shocks. Their payoff depends on the level of aggregate demand, as well as on...

Persistent link: https://www.econbiz.de/10011409938

Monetary policy, price setting, and credit constraints

Balleer, Almut; Zorn, Peter - 2019

We estimate the effects of monetary policy on price-setting behavior in administrative micro data underlying the German producer price index. We find a strong degree of monetary nonneutrality. After expansionary monetary policy, the mass of additional price adjustments is economically small and...

Persistent link: https://www.econbiz.de/10012138873

Asset bubbles and monetary policy

Dong, Feng; Miao, Jianjun; Wang, Pengfei - 2020

Persistent link: https://www.econbiz.de/10012230139

Asset prices, collateral, and unconventional monetary policy in a DSGE model

Hilberg, Björn; Hollmayr, Josef - 2013

In this paper we set up a New-Keynesian model with a heterogenous banking sector to analyze liquidity problems on the interbank market. The presence of an interbank market is essential to consider a situation where an increased liquidity supply by the central bank is only partially passed on to...

Persistent link: https://www.econbiz.de/10010192797

Fiscal multiplier in a credit-constrained new Keynesian economy

Karatas, Engin; Sin, Jasmin - 2012

Persistent link: https://www.econbiz.de/10010219865

MoNK : Mortgages in a New-Keynesian model

Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - In: Journal of economic dynamics & control 123 (2021), pp. 1-29

Persistent link: https://www.econbiz.de/10012666270

Energy price shocks and financial market integration : evidence from New Keynesian model

Ghazouani, Tarek - In: International advances in economic research : IAER ; an … 26 (2020) 1, pp. 13-32

Persistent link: https://www.econbiz.de/10012414945

The heterogeneity among commodity-rich economies : beyond the prices of commodities

Troug, Haytem - In: Journal of macroeconomics 66 (2020), pp. 1-41

Persistent link: https://www.econbiz.de/10012433830

Oil price shocks and macroeconomic dynamics in an oil-exporting emerging economy : a New Keynesian DSGE approach

Oladunni, Sunday - In: CBN journal of applied statistics 11 (2020) 1, pp. 1-34

a new Keynesian dynamic stochastic general equilibrium (DSGE) model to study how an oil price shock impact macroeconomic … aggregates in an oil-rich emerging economy. We consider a positive oil price shock to uncover the extent to which oil price … oil price shock, reveal evidence of Dutch disease and the operation of the Harrod-Balassa-Samuelson effect. We find a …

Persistent link: https://www.econbiz.de/10012297450