Search Results - subject:"Optimal monetary policy"

The supply-side effects of household heterogeneity

Schwanebeck, Benjamin; Thiel, Luzie - 2025

household heterogeneity and for optimal monetary policy. …

Persistent link: https://www.econbiz.de/10015325473

Pro-cyclical emissions, real externalities, and optimal monetary policy

Giovanardi, Francesco; Kaldorf, Matthias - 2025

We study optimal monetary policy in an analytically tractable New Key-nesian DSGE-model with an emission externality … though this would be feasible. Real externalities affect the LQ-approximation to optimal monetary policy and we extend the …, optimal monetary policy places a larger weight on output stabilization and targets a non-zero natural output gap, implying a …

Persistent link: https://www.econbiz.de/10015326418

ECB's evolving communication and policy preferences since 2021 strategy review

Haavio, Markus; Heikkinen, Joni; Jalasjoki, Pirkka; … - 2025

We study the evolution of the European Central Bank's (ECB) monetary policy since July 2021, following the adoption of a new strategy and amid a period of volatile inflation. Utilizing text analysis, we assess changes in the general sentiment of the ECB's communication. Additionally, we employ...

Persistent link: https://www.econbiz.de/10015331353

The taming of the skew: asymmetric inflation risk and monetary policy

De Polis, Andrea; Melosi, Leonardo; Petrella, Ivan - 2025

We document that inflation risk in the U.S. varies significantly over time and is often asymmetric. To analyze the macroeconomic effects of these asymmetric risks within a tractable framework, we construct the beliefs representation of a general equilibrium model with skewed distribution of...

Persistent link: https://www.econbiz.de/10015432195