Modeling and Policy Use of Auction Price Expectations

A standard theoretical assumption of present-value models of asset prices is that agents' expectations of future inflation are embedded in auction prices, such as primary commodity prices and the term structure of interest rates. The aim of this paper is to provide an empirical assessment of the use of auction price information in short-run monetary policy, using the Board of Governors of the Federal Reserve System quarterly econometric model (FRB/MpS) as a stochastic simulation vehicle

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Year of publication:	[2022]
Authors:	Von zur Mühlen, Peter ; Tinsley, Peter A. ; Brayton, Flint
Publisher:	[S.l.] : SSRN
Subject:	Auktion \| Auction \| Auktionstheorie \| Auction theory \| Erwartungsbildung \| Expectation formation
Description of contents:	Abstract [papers.ssrn.com]

Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Modeling and Policy Use of Auction Price Expectations, in Ch.3, Evaluating Policy Regimes: New Research in Empirical Macroeconomics, Ralph C. Bryant, Peter Hooper, and Catherine L. Mann, eds. 1993, The Bookings Institution, Washington D.C Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 1993 erstellt Volltext nicht verfügbar
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E43 - Determination of Interest Rates; Term Structure Interest Rates ; E47 - Forecasting and Simulation
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013403656