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Demographic change, economic growth, and old-age economic security : Asia and the world

Mason, Andrew; Lee, Sang-hyop; Park, Donghyun - In: Asian development review : studies of Asian and pacific … 39 (2022) 1, pp. 131-168

Asia is aging, although there is significant heterogeneity across subregions and economies. Population aging poses two strategic challenges for the region: sustaining economic growth and delivering old-age economic security. In this paper, we leverage the lifecycle perspective-that individuals'...

Persistent link: https://www.econbiz.de/10013329396

Evaluating monetary policy

Svensson, Lars E. O. - 2009

order to stabilize the real economy. A modified Taylor curve, the forecast Taylor curve, showing the tradeoff between the … achieved an efficient stabilization of both inflation and the real economy and what relative weight on the stability of … inflation and the real economy has effectively been applied. Ex ante evaluation may be more relevant than evaluation ex post …

Persistent link: https://www.econbiz.de/10003896109

Anticipated alternative policy-rate paths in policy simulations

Laséen, Stefan; Svensson, Lars E. O. - 2011

include among the predetermined variables (the "state" of the economy) the vector of nonzero means of future shocks to a given …

Persistent link: https://www.econbiz.de/10008696833

Inflation targeting as a monetary policy rule

Svensson, Lars E. O. - 1998 - This version: August 1998

The purpose of the paper is to survey and discuss in ation targeting in the context of monetary policy rules. The paper provides a general conceptual discussion of monetary policy rules, attempts to clarify the essential characteristics of in ation targeting, compares in ation targeting to other...

Persistent link: https://www.econbiz.de/10010128028

Transparency and credibility : monetary policy with unobservable goals

Fausty, Jon; Svensson, Lars E. O. - 1998 - This version: April 1998

We define and study transparency, credibility, and reputation in a model where the central bank's characteristics are unobservable to the private sector and are inferred from the policy outcome. A low-credibility bank optimally conducts a more expansionary policy than a high-credibility bank, in...

Persistent link: https://www.econbiz.de/10010128043

Policy rules for inflation targeting

Rudebuschy, Glenn D.; Svensson, Lars E. O. - 1998

economy. We compare the properties and outcomes of explicit "instrument rules" as well as "targeting rules". The latter, which …

Persistent link: https://www.econbiz.de/10010128044

Optimal monetary policy in an operational medium-sized DSGE model

Adolfson, Malin; Laséen, Stefan; Lindé, Jesper; … - 2008

We show how to construct optimal policy projections in Ramses, the Riksbank’s openeconomy medium-sized DSGE model for forecasting and policy analysis. Bayesian estimation of the parameters of the model indicates that they are relatively invariant to alternative policy assumptions and supports...

Persistent link: https://www.econbiz.de/10003757018

Impact of population aging on Asia's future economic growth, 2021-2050

Park, Donghyun; Shin, Kwanho - In: Asian development review : studies of Asian and pacific … 40 (2023) 1, pp. 49-78

Developing Asia has grown faster than other parts of the world for decades. However, population aging is expected to pose significant headwinds to the region’s future economic growth. We update and enhance the analysis of Park and Shin (2012) to project the impact of population aging on...

Persistent link: https://www.econbiz.de/10014333414