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How Important is Money in the Conduct of Monetary Policy?

Woodford, Michael - 2007

I consider some of the leading arguments for assigning an important role to tracking the growth of monetary aggregates when making decisions about monetary policy. First, I consider whether ignoring money means returning to the conceptual framework that allowed the high inflation of the 1970s....

Persistent link: https://www.econbiz.de/10012776198

Inflation in Mainland China - Modelling a Roller Coaster Ride

Funke, Michael - 2007

The New Keynesian Phillips curve (NKPC) posits the dynamics of inflation as forward looking and related to marginal costs. In this paper we examine the empirical relevance of the NKPC for mainland China. The empirical results indicate that an augmented (hybrid) NKPC gives results that are...

Persistent link: https://www.econbiz.de/10012776418

A New Keynesian Q Theory and the Link between Inflation and the Stock Market

Lopez, Pierlauro - 2018

I show that when prices are sticky the Q theory of firms' behavior predicts that market-book ratios increase as … when stock prices and inflation move in opposite directions. Therefore, this New Keynesian Q (NKQ) theory can rationalize … theory of investment. To estimate and test the NKQ equation, I rely on weak implications of the theory with strong economic …

Persistent link: https://www.econbiz.de/10012938592

The macroeconomic effects of positive trend inflation in a small open economy

Yılmaz, Yusuf Ömür; Tunç, Gül Ipek - In: Applied economics 54 (2022) 3, pp. 234-248

Persistent link: https://www.econbiz.de/10012874029

A Nonlinear New Keynesian Philips Curve : The Rotemberg vs Calvo Pricing

Ivashchenko, Sergey - 2015

In price formation it has become customary to consider two main types of price stickiness: by Rotemberg (Rotemberg (1982)) and by Calvo (Calvo (1983)). The nonlinear DSGE models (with different types of stickiness) are estimated for 11 different countries (both developed and emerging markets)....

Persistent link: https://www.econbiz.de/10013016889

Heterogeneity in Wage Setting Behavior in a New-Keynesian Model

Eijffinger, Sylvester C. W. - 2015

In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent study, Coibion and Gorodnichenko (2011) develop a DSGE model, in which firms follow four different types of price setting schemes: sticky prices, sticky information, rule of...

Persistent link: https://www.econbiz.de/10013025085

Informality and the Long Run Phillips Curve

Ait Lahcen, Mohammed - 2018

This paper studies the implications of informality for the long run relationship between inflation, output and unemployment in developing economies. I present a monetary dynamic general equilibrium model with search frictions in both labor and goods markets and where informality is an...

Persistent link: https://www.econbiz.de/10012934395

Asymmetric unemployment fluctuations and monetary policy trade-offs

Lepetit, Antoine - In: Review of economic dynamics 36 (2020), pp. 29-45

Persistent link: https://www.econbiz.de/10012652765

Imperfect information, heterogeneous demand shocks, and inflation dynamics

Okuda, Tatsushi; Tsuruga, Tomohiro; Zanetti, Francesco - 2021

Persistent link: https://www.econbiz.de/10012585988

Imperfect credibility versus no credibility of optimal monetary policy

Chatelain, Jean-Bernard; Ralf, Kirsten - In: Revue économique : revue bimestrielle 72 (2021) 1, pp. 43-63

Persistent link: https://www.econbiz.de/10012606999