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Das Asset-Märchen der Federal Reserve
Drescher, Christian; Erler, Alexander; Križanac, Damir - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 90 (2010) 8, pp. 527-530
Persistent link: https://www.econbiz.de/10003997286
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The Fed’s TRAP
Erler, Alexander; Drescher, Christian; Križanac, Damir - In: Journal of economics and finance 37 (2013) 1, pp. 122-135
Persistent link: https://www.econbiz.de/10009718908
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The Fed’s TRAP
Erler, Alexander; Drescher, Christian; Križanac, Damir - In: Journal of Economics and Finance 37 (2013) 1, pp. 136-149
The article examines if US monetary policy implicitly responds to asset price booms. Using real-time data and a GMM framework we estimate a Taylor-type rule with an asset variable that captures phases of booms and busts in the real estate market. We identify quasi real-time booms and busts using...
Persistent link: https://www.econbiz.de/10010998980
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Das Asset-Märchen der Federal Reserve
Drescher, Christian; Erler, Alexander; Križanac, Damir - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 90 (2010) 8, pp. 527-531
Persistent link: https://www.econbiz.de/10008453644
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Das Asset-Märchen der Federal Reserve
Drescher, Christian; Erler, Alexander; Križanac, Damir - In: Wirtschaftsdienst 90 (2010) 8, pp. 527-530
Persistent link: https://www.econbiz.de/10008674073
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The Fed's TRAP: A Taylor-type Rule with Asset Prices
Erler, Alexander; Drescher, Christian; Krizanac, Damir - 2010
This paper examines if US monetary policy responds to asset prices. Using real-time data we estimate a Taylor-type rule with an asset price variable. This variable refers to real estate prices, considering that those exhibit an important share in households' asset portfolio. Moreover, especially...
Persistent link: https://www.econbiz.de/10010270254
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Das Asset-Märchen der Federal Reserve
Drescher, Christian; Erler, Alexander; Kriézanac, Damir - In: Wirtschaftsdienst 90 (2010) 8, pp. 527-530
Die Federal Reserve ist laut dem Federal Reserve Act unter anderem dazu verpflichtet, stabile Preise zu gewährleisten. Das Erreichen dieses geldpolitischen Ziels wird offiziell auf Ebene der Verbraucherpreise angesiedelt. Darüber hinaus bekräftigt die FED, dass kein explizites Asset Price...
Persistent link: https://www.econbiz.de/10010289260
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Das Asset-Märchen der Federal Reserve
Drescher, Christian; Erler, Alexander; Kriézanac, Damir - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 90 (2010) 8, pp. 527-530
Die Federal Reserve ist laut dem Federal Reserve Act unter anderem dazu verpflichtet, stabile Preise zu gewährleisten. Das Erreichen dieses geldpolitischen Ziels wird offiziell auf Ebene der Verbraucherpreise angesiedelt. Darüber hinaus bekräftigt die FED, dass kein explizites Asset Price...
Persistent link: https://www.econbiz.de/10009656421
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The Fed's Trap : A Taylor-Type Rule with Asset Prices
Drescher, Christian - 2010
The paper examines if US monetary policy implicitly responds to asset prices. Using real-time data and a GMM framework we estimate a Taylor-type rule with an asset cycle variable, which refers to real estate prices. To analyze the Fed's responses we describe real estate price movements by means...
Persistent link: https://www.econbiz.de/10013142235
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The Fed's TRAP: A Taylor-type Rule with Asset Prices
Drescher, Christian; Erler, Alexander; Krizanac, Damir - Volkswirtschaftliche Fakultät, … - 2010
The paper examines if US monetary policy implicitly responds to asset prices. Using real-time data and a GMM framework we estimate a Taylor-type rule with an asset cycle variable, which refers to real estate prices. To analyze the Fed's responses we describe real estate price movements by means...
Persistent link: https://www.econbiz.de/10008574278