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On the empirical relevance of the Lucas critique : the case of euro area money demand

Dreger, Christian; Wolters, Jürgen - In: Empirica : journal of european economics 43 (2016) 1, pp. 61-82

Persistent link: https://www.econbiz.de/10011647713

Unconventional monetary policy and money demand

Dreger, Christian; Wolters, Jürgen - 2014

This paper investigates the usefulness of the money demand relationship in times of unconventional monetary policies by cointegration methods. In contrast to the bulk of the literature, evidence in favour of a stable long run money demand function is presented both for the US and the euro area....

Persistent link: https://www.econbiz.de/10010358869

Persistency and Money Demand Distortions in a Stochastic Dge Model with Sticky Prices

Gail, Michael - 2003

Recently macroeconomists have intensified their efforts to develop models that are able to generate persistent reactions of real variables to monetary shocks in stochastic DGE models with nominal rigidities. This has proven to be quite difficult in models with price staggering only. Most papers...

Persistent link: https://www.econbiz.de/10014113680

Two major economic crises in the early twenty-first century and their impact on central bank independence

Dąbrowski, Marek - In: Accounting, Economics, and Law : AEL ; a convivium 13 (2023) 2, pp. 169-215

Persistent link: https://www.econbiz.de/10014303412

Unconventional monetary policy and inflation expectations in the euro area

Aßhoff, Sina; Belke, Ansgar; Osowski, Thomas - 2020

Auswirkungen der unkonventionellen Geldpolitik ist nicht trivial, da standardisierte empirische Instrumente wie die VAR … Problem zu lösen. Wir stellen fest, dass die unkonventionelle Geldpolitik zwar kurzfristig zu einem Anstieg der … beigetragen hat. Dennoch deuten sie auf einen durch die unkonventionelle Geldpolitik ausgelösten Anstieg des mittelfristigen …

Persistent link: https://www.econbiz.de/10012149519

Policy evaluation in macroeconometric doubly stochastic models

Carrasco, Marine; Grégoir, Stéphane - In: Annales d'économie et de statistique (2002), pp. 73-109

Persistent link: https://www.econbiz.de/10001773541

Modest Policy Interventions

Leeper, Eric M.; Zha, Tao A. - 2021

We present a framework for computing and evaluating linear projections of macro variables conditional on hypothetical paths of monetary policy. A modest policy intervention is a change in policy that does not significantly shift agents' beliefs about policy regime and does not generate...

Persistent link: https://www.econbiz.de/10013247250

Modest Policy Interventions

Leeper, Eric M. - 2015

This paper brings together identification and forecasting in a positive econometric analysis of policy. We contend that a broad range of important policy questions is consistent with the existing policy process and is not subject to Lucas's critique. We analyze the economics of "business as...

Persistent link: https://www.econbiz.de/10013032673

Modest Policy Interventions

Leeper, Eric M. - 2002

Persistent link: https://www.econbiz.de/10012469518

Modest Policy Interventions

Leeper, Eric M. - 2015

The authors present a framework for computing and evaluating linear projections of macro variables conditional on hypothetical paths of monetary policy. A modest policy intervention is a change in policy that does not significantly shift agents' beliefs about policy regime and does not generate...

Persistent link: https://www.econbiz.de/10013028586

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