Search Results - subject:"Equilibrium Real Rate"

25 years of excess unemployment in advanced economies : lessons for monetary policy

Gagnon, Joseph E.; Sarsenbayev, Madi - 2022

Persistent link: https://www.econbiz.de/10013455902

Natural rate chimera and bond pricing reality

Brand, Claus; Goy, Gavin; Lemke, Wolfgang - 2021

We build a novel macro-finance model that combines a semi-structural macroeconomic module with arbitrage-free yield-curve dynamics. We estimate it for the United States and the euro area using a Bayesian approach and jointly infer the real equilibrium interest rate (r*), trend inflation (Û*),...

Persistent link: https://www.econbiz.de/10012819026

Natural rate chimera and bond pricing reality

Brand, Claus; Goy, Gavin; Lemke, Wolfgang - 2021

Persistent link: https://www.econbiz.de/10012705391

Natural rate chimera and bond pricing reality

Brand, Claus; Goy, Gavin W; Lemke, Wolfgang - 2020

Incorporating arbitrage-free term-structure dynamics into a semi-structural macro-model, we jointly estimate the real equilibrium interest rate (r*), trend inflation, and term premia for the United States and the euro area, using a Bayesian approach. The natural real rate and trend inflation are...

Persistent link: https://www.econbiz.de/10012287834

The inflation target and the equilibrium real rate

Cotton, Christopher D. - 2020

the equilibrium real rate. I demonstrate that in the New Keynesian model, once heterogeneity is introduced, raising the … inflation target causes the equilibrium real rate to fall. This implies that raising the inflation target will increase the … average markup lowering the equilibrium real rate by household heterogeneity, which could come from overlapping generations or …

Persistent link: https://www.econbiz.de/10012388958

The inflation target and the equilibrium real rate

Cotton, Christopher D. - 2020 - This version: February 2020

Persistent link: https://www.econbiz.de/10012215760

Natural rate chimera and bond pricing reality

Brand, Claus; Goy, Gavin; Lemke, Wolfang - 2020

Persistent link: https://www.econbiz.de/10012162399

Natural rate chimera and bond pricing reality

Brand, Claus; Goy, Gavin; Lemke, Wolfgang - 2020

Persistent link: https://www.econbiz.de/10012425011

Taylor-rule consistent estimates of the natural rate of interest

Brand, Claus; Mazelis, Falk - 2019

We estimate the natural rate of interest for the US and the euro area in a semi-structural model comprising a Taylor rule. Our estimates feature key elements of Laubach and Williams (2003), but are more consistent with using conventional policy rules: we model inflation to be stationary, with...

Persistent link: https://www.econbiz.de/10012142101

Taylor-rule consistent estimates of the natural rate of interest

Brand, Claus; Mazelis, Falk - 2019

Persistent link: https://www.econbiz.de/10011994643