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Hysteresis, endogenous growth, and monetary policy
Amador, Sebastián - 2022
I provide evidence of substantial hysteresis (i.e., a situation in which temporary shocks have longrun effects) from … identification by incorporating a mean-unbiased instrumental variable estimator. Results show substantial hysteresis in both human … long lasting responses. I evaluate the aggregate importance of monetary hysteresis with a growth accounting exercise …
Persistent link: https://www.econbiz.de/10013179301
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The Long-Run Effects of Monetary Policy
Jordà, Òscar - 2020
. Notably, the capital stock and total factor productivity (TFP) exhibit hysteresis, but labor does not. Money is non …
Persistent link: https://www.econbiz.de/10012842574
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Switching-track after the great recession
Vinci, Francesca; Licandro, Omar - 2021
We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10012533939
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Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2020
contractionary effect on output. The temporary growth slowdown translates into output hysteresis (permanently lower output and labor …
Persistent link: https://www.econbiz.de/10012269664
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Endogenous technology, scarring and fiscal policy
Schmöller, Michaela - 2022
occur endogenously through hysteresis effects in TFP. Both demand- and supply-driven recessions can weaken investment in R …
Persistent link: https://www.econbiz.de/10013463787
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Endogenous technology, scarring and fiscal policy
Schmöller, Michaela - 2022
occur endogenously through hysteresis effects in TFP. Both demand- and supply-driven recessions can weaken investment in R …
Persistent link: https://www.econbiz.de/10013469563
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Switching-Track after the Great Recession
Vinci, Francesca; Licandro, Omar - 2021
We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10012599194
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Lower for longer under endogenous technology growth
Elfsbacka Schmöller, Michaela; Spitzer, Martin - 2022
is due to the long-run non-neutrality of money and the hysteresis effects in TFP through which ELB episodes generate …
Persistent link: https://www.econbiz.de/10013172492
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Lower for longer under endogenous technology growth
Schmöller, Michaela; Spitzer, Martin - 2022
is due to the long-run non-neutrality of money and the hysteresis effects in TFP through which ELB episodes generate …
Persistent link: https://www.econbiz.de/10013342235
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Would a Stricter Fed Policy and Financial Regulation Have Averted the Financial Crisis?
Gokhale, Jagadeesh - 2009
Many commentators have argued that if the Federal Reserve had followed a stricter monetary policy earlier this decade when the housing bubble was forming, and if Congress had not deregulated banking but had imposed tighter financial standards, the housing boom and bust - and the subsequent...
Persistent link: https://www.econbiz.de/10013155688