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A utility-based welfare criterion in a model with endogenous capital accumulation

Edge, Rochelle M. - 2003

Persistent link: https://www.econbiz.de/10001883656

Monetary and Fiscal Policy Rules in a Model with Capital Accumulation and Potentially Non-Superneutral Money

von Thadden, Leopold - 2016

Persistent link: https://www.econbiz.de/10012991266

Monetary and Fiscal Policy Rules in a Model with Capital Accumulation and Potentially Non-Superneutral Money

von Thadden, Leopold - 2003

We consider the properties of two monetary policy rules (monetary targeting, Taylor-type interest rate rule) in an intertemporal equilibrium model with capital accumulation and two outside assets (government bonds, fiat money). The paper shows that the long-run behaviour of the economy depends...

Persistent link: https://www.econbiz.de/10014089883

The Financial Instability Hypothesis : A Stochastic Microfoundation Framework

Chiarella, Carl - 2010

This paper examines the dynamics of financial distress and in particular the mechanism of transmission of shocks from the financial sector to the real economy. The analysis is performed by representing the linkages between microeconomic financial variables and the aggregate performance of the...

Persistent link: https://www.econbiz.de/10013146523

The Investment Decision of the Post-Keynesian Firm : A Suggested Microfoundation for Minsky's Investment Instability Thesis

Crotty, James; Goldstein, Jonathan - 1999

and others. The authors address the difficulties inherent in the formulation of an investment theory in which the future … is unknowable, and investment substantially irreversible. Where Minsky accepts a variation of the Tobin-q theory …In this paper, Crotty and Goldstein undertake the formulation of a model of enterprise investment decision that can …

Persistent link: https://www.econbiz.de/10014195370

Endogenous Indexing and Monetary Policy Models

Mash, Richard - 2011

Models in which firms use a rule of thumb or partial indexing in price setting are prominent in the recent monetary policy literature. The extent to which these firms adjust their prices to lagged inflation has been taken as fixed. We consider the implications of firms choosing the optimal...

Persistent link: https://www.econbiz.de/10013132417

Macroeconometric Equivalence, Microeconomic Dissonance, and the Design of Monetary Policy

Levin, Andrew T. - 2008

Many recent studies in macroeconomics have focused on the estimation of DSGE models using a system of loglinear approximations to the models' nonlinear equilibrium conditions. The term macroeconometric equivalence encapsulates the idea that estimates using aggregate data based on first-order...

Persistent link: https://www.econbiz.de/10012722962

Micro jumps, macro humps : monetary policy and business cycles in an estimated HANK model

Auclert, Adrien; Rognlie, Matthew; Straub, Ludwig - 2020

shock. Our estimated model uncovers a central role for investment in the transmission mechanism of monetary policy, as high … MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to … investment shocks, leading our model to infer a central role for these shocks as a source of business cycles. …

Persistent link: https://www.econbiz.de/10012154622

Dynamic and structure of GDP and investments

Izryadnova, Olga - 2021

Internal epidemiological restrictions and external shocks have had a significant impact on economic growth in Russia. Unfavorable changes in the global market environment increased the impact of external factors on economic dynamic: starting from 2019, the scale of exports in terms of value and...

Persistent link: https://www.econbiz.de/10013215919

Monetary Policy, Investment and Firm Heterogeneity

Ferrando, Annalisa - 2020

firm level investment and high-frequency identified monetary policy shocks. We show that the reaction of firms' investment …

Persistent link: https://www.econbiz.de/10012837618

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