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Regulating financial networks under uncertainty

Ramírez, Carlos - 2019 - This version: July 26, 2019

I study the problem of regulating a network of interdependent financial institutions that is prone to contagion when …-improving interventions. While improving network transparency potentially reduces this uncertainty, it does not always lead to welfare …) susceptibility of the network to contagion, (ii) the cost of improving network transparency, (iii) the cost of regulating …

Persistent link: https://www.econbiz.de/10012181962

The equity premium, long-run risk, & optimal monetary policy

Diercks, Anthony M. - 2015

Persistent link: https://www.econbiz.de/10011410110

Some implications of uncertainty and misperception for monetary policy

Erceg, Christopher J.; Hebden, James; Kiley, Michael T.; … - 2018

When choosing a strategy for monetary policy, policymakers must grapple with mismeasurement of labor market slack, and of the responsiveness of price inflation to that slack. Using stochastic simulations of a small-scale version of the Federal Reserve Boardâ€™s principal New Keynesian...

Persistent link: https://www.econbiz.de/10012016122

Unemployment risk

Kiley, Michael T. - 2018 - Version 3

Fluctuations in upside risks to unemployment over the medium term are examined using quantile regressions. U.S. experience reveals an elevated risk of large increases in unemployment when inflation or credit growth is high and when the unemployment rate is low. Inflation was a significant...

Persistent link: https://www.econbiz.de/10012016326

Uncertainty, risk, and incentives : theory and evidence

He, Zhiguo; Li, Si; Wei, Bin; Yu, Jianfeng - 2013

Persistent link: https://www.econbiz.de/10010424565

The nature of countercyclical income risk

Guvenen, Fatih; Ozkan, Serdar; Song, Jae - 2012

Persistent link: https://www.econbiz.de/10010424594

Effective lower bound risk

Hills, Timothy S.; Nakata, Taisuke; Schmidt, Sebastian - 2019 - This draft: September 2019

Even when the policy rate is currently not constrained by its effective lower bound (ELB), the possibility that the policy rate will become constrained in the future lowers today's inflation by creating tail risk in future inflation and thus reducing expected inflation. In an empirically rich...

Persistent link: https://www.econbiz.de/10012182403

Nothing is certain except death and taxes : the lack of policy uncertainty from expiring "temporary" taxes

Chang, Andrew C. - 2018

What is the policy uncertainty surrounding expiring taxes? How uncertain are the approvals of routine extensions of temporary tax policies? To answer these questions, I use event studies to measure cumulative abnormal returns (CARs) for firms that claimed the U.S. research and development (R&D)...

Persistent link: https://www.econbiz.de/10011932265

Policy uncertainty, irreversibility, and cross-border flows of capital

Julio, Brandon; Yook, Youngsuk - 2013

Persistent link: https://www.econbiz.de/10010431715

Model risk of risk models

Daníelsson, Jón; James, Kevin; Valenzuela, Marcela; … - 2014

Persistent link: https://www.econbiz.de/10010433427