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Simple Monetary Policy Rules Under Model Uncertainty
Isard, Peter; Laxton, Douglas; Eliasson, Ann-Charlotte - 2021
Using stochastic simulations and stability analysis, the paper compares how different monetary rules perform in a moderately nonlinear model with a time-varying nonaccelerating-inflation-rate-of-unemployment (NAIRU). Rules that perform well in linear models but implicitly embody backward-looking...
Persistent link: https://www.econbiz.de/10013317691
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A New-Keynesian DSGE Model for Forecasting the South African Economy
Gupta, Rangan - 2010
This paper develops a New-Keynesian Dynamic Stochastic General Equilibrium (NKDSGE) model for forecasting the growth rate of output, inflation, and the nominal short-term interest rate (91 days Treasury Bill rate) for the South African economy. The model is estimated via maximum likelihood...
Persistent link: https://www.econbiz.de/10013138053
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Uncertainty Shocks and Monetary Policy Rules in a Small Open Economy
Gupta, Sargam - 2020
uncertainty. Although the recent literature has recognized adverse real effects of global uncertainty shocks in EMEs, the role of … real) and monetary policy in amplifying/ stabilizing the real effects of global uncertainty shocks in a small open economy …. We reproduce stylized facts showing significant movements in exchange rates when EMEs are hit with a global uncertainty …
Persistent link: https://www.econbiz.de/10012827002
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Overview of the Macedonian Policy Analysis Model (MAKPAM)
Hlédik, Tibor; Bojceva Terzijan, Sultanija; Jovanovic, … - Narodna Banka na Republika Makedonija - 2016
This paper describes the Macedonian Policy Analysis Model (MAKPAM), which is used at the National Bank of the Republic of Macedonia (NBRM) for medium term macroeconomic forecasting and policy analysis. The MAKPAM is a medium scale, New Keynesian gap model that incorporates the key...
Persistent link: https://www.econbiz.de/10011623918
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Propelling steady growth and high-quality development through deeper reform and more comprehensive opening up : outlook, policy simulations, and reform implementation : a summary of the Annual SUFE Macroeconomic Report (2021-2022)
Huang, Kevin X. D.; Tian, Guoqiang; Zhao, Lin - In: International studies of economics 17 (2022) 1, pp. 2-20
China's economy underwent a steady recovery in 2021. Investment grew steadily with structural improvement. Exports and imports surged while trade surplus expanded. On the other hand, although labor market conditions improved, income distribution worsened, contributing to sluggish growth in...
Persistent link: https://www.econbiz.de/10013454213
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Centering on economic construction to stabilize general socioeconomic conditions while fully promoting economic recovery : outlook, policy simulations, and reform implementation : a summary of the annual SUFE macroeconomic report (2022-2023)
Huang, Kevin X. D.; Tian, Guoqiang; Wang, Xiaowen - In: International studies of economics 18 (2023) 1, pp. 2-20
the year, rising income uncertainty set off by the pandemic shock continued depressing household consumption and housing …
Persistent link: https://www.econbiz.de/10014288667
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Solving the Paradox of Monetary Profits
Keen, Steve - 2010
Bruun and Heyn-Johnsen (2009) state the paradox that economics has failed to provide a satisfactory explanation of how monetary profits are generated, even though the generation of a physical surplus is an established aspect of non-neoclassical economics. They emphasise that our ability to...
Persistent link: https://www.econbiz.de/10013135068
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Solving the paradox of monetary profits
Keen, Steve - 2010
Bruun and Heyn-Johnsen (2009) state the paradox that economics has failed to provide a satisfactory explanation of how monetary profits are generated, even though the generation of a physical surplus is an established aspect of non-neoclassical economics. They emphasise that our ability to...
Persistent link: https://www.econbiz.de/10008668193
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Solving the paradox of monetary profits
Keen, Steve - 2010
Bruun and Heyn-Johnsen (2009) state the paradox that economics has failed to provide a satisfactory explanation of how monetary profits are generated, even though the generation of a physical surplus is an established aspect of non-neoclassical economics. They emphasise that our ability to...
Persistent link: https://www.econbiz.de/10003914175
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Solving the Paradox of Monetary Profits
Keen, Steve - 2011
Bruun and Heyn-Johnsen (2009) state the paradox that economics has failed to provide a satisfactory explanation of how monetary profits are generated, even though the generation of a physical surplus is an established aspect of non-neoclassical economics. They emphasise that our ability to...
Persistent link: https://www.econbiz.de/10013210305