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Persistent link: https://www.econbiz.de/10012795094
This paper makes changes in monetary policy rules (or regimes) endogenous. Changes are triggered when certain endogenous variables cross specified thresholds. Rational expectations equilibria are examined in three models of threshold switching to illustrate that (i) expectations formation...
Persistent link: https://www.econbiz.de/10012466260
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This paper investigates the implications of noisy information regarding the measurement of economic activity for the evaluation of monetary policy. A common implicit assumption in such evaluations is that policymakers observe the current state of the economy promptly and accurately and can...
Persistent link: https://www.econbiz.de/10014202878
This paper makes changes in monetary policy rules (or regimes) endogenous. Changes are triggered when certain endogenous variables cross specified thresholds. Rational expectations equilibria are examined in three models of threshold switching to illustrate that (i) expectations formation...
Persistent link: https://www.econbiz.de/10014055201
This paper makes changes in monetary policy rules (or regimes) endogenous. Changes are triggered when certain endogenous variables cross specified thresholds. Rational expectations equilibria are examined in three models of threshold switching to illustrate that (i) expectations formation...
Persistent link: https://www.econbiz.de/10014055631
Persistent link: https://www.econbiz.de/10013454692
order to stabilize nominal credit growth and the output gap. We look at the gains from coordination between the central bank … fluctuations in the macroprudential mandate. The results suggest that there can be considerable gains from coordination if the … policy maker can reach better outcomes, while the central bank does worse, in the absence of coordination. Therefore, whether …
Persistent link: https://www.econbiz.de/10013054256
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