Search Results - subject:"Monetary Policy Rules"

Trend growth and learning about monetary policy rules in a two-block world economy

Schaling, Eric; Tesfaselassie, Mewael F. - 2013

-country New Keynesian model with growth. We analyze these issues for contemporaneous data and expectations-based monetary policy … rules. Our results highlight how growth matters for the overall effect of opening an economy to more trade, as we find that …

Persistent link: https://www.econbiz.de/10010292721

Labor Force Participation and Monetary Policy in the Wake of the Great Recession

Erceg, Christopher J.; Levin, Andrew - International Monetary Fund (IMF) - 2013

In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during...

Persistent link: https://www.econbiz.de/10011123858

Credit-Driven Investment, Heterogeneous Labor Markets and Macroeconomic Dynamics

Charpe, Matthieu; Flaschel, Peter; Krolzig, Hans-Martin; … - Department of Economics, New School for Social Research - 2013

In this paper we set up a baseline, but nevertheless advanced and complete model rep-resenting detailed goods market dynamics, heterogeneous labor markets, dual and cross-dual wage-price adjustment processes, as well as counter-cyclical government policies. The cyclical movements of output...

Persistent link: https://www.econbiz.de/10011164273

On the efficiency of monetary and fiscal policy in open economies

Wang, Chan; Zou, Heng-fu - In: Annals of Economics and Finance 14 (2013) 1, pp. 179-206

government spending can affect the efficiency of global monetary policy rules that replicate the real allocations under flexible … the monopoly distortions can also affect the efficiency of global monetary policy rules that replicate the real … subsidy policies used to completely eliminate monopoly distortions and the monetary policy rules replicating the real …

Persistent link: https://www.econbiz.de/10010819316

Non-uniform wage-staggering: European evidence and monetary policy implications

Juillard, Michel; Le Bihan, Herve; Millard, Stephen - Bank of England - 2013

In many countries, wage changes tend to be clustered in the beginning of the year, with wages being set for fixed durations of typically one year. This has been, in particular, documented in recent years for European countries using microeconomic data. Motivated by this evidence we build a model...

Persistent link: https://www.econbiz.de/10010839055

International financial integration, credit frictions and exchange rate regimes

PIROVANO, Mara - Faculteit Toegepaste Economische Wetenschappen, … - 2013

This paper studies the stabilisation properties of different exchange rate policies in a small open economy with cross-border balance sheet interdependence. The model features price and wage rigidities, credit frictions à la Bernanke, Gertler and Gilchrist (1999) both between households and...

Persistent link: https://www.econbiz.de/10010710025

Measurement Error and Policy Evaluation in the Frequency Domain

Yu, Xiangrong - Hong Kong Institute for Monetary Research (HKIMR), … - 2013

parameterized example which corresponds to the choice of monetary policy rules in a simple AR (1) environment, I show that an …

Persistent link: https://www.econbiz.de/10010705946

Non-uniform wage-staggering: European evidence and monetary policy implications.

Juillard, M.; Le Bihan, H.; Millard, S. - Banque de France - 2013

Persistent link: https://www.econbiz.de/10010686145

The Monetary Transmission Mechanism in the Tropics; A Narrative Approach

Berg, Andrew; Charry, Luisa; Portillo, Rafael A; Vlcek, Jan - International Monetary Fund (IMF) - 2013

Many central banks in low-income countries in Sub-Saharan Africa are modernising their monetary policy frameworks. Standard statistical procedures have had limited success in identifying the channels of monetary transmission in such countries. Here we take a narrative approach, following Romer...

Persistent link: https://www.econbiz.de/10011242205

Inflation Targeting and Country Risk; An Empirical Investigation

Fouejieu, Armand; Roger, Scott - International Monetary Fund (IMF) - 2013

The sovereign debt crisis in Europe has highlighted the role of country risk premia as a link between countriesâ€™ fiscal and external balances, financial conditions and monetary policy. The purpose of this paper is to estimate how adoption of inflation targeting (IT) affects spreads. It is...

Persistent link: https://www.econbiz.de/10011242286