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Chocs d’offre et optimalité de la politique monétaire dans la zone euro
Fève, Patrick; Matheron, Julien; Sahuc, Jean-Guilllaume - Université Paris-Dauphine (Paris IX) - 2008
responses of output, inflation, labor share and the nominal interest rate to a supply shock as identified through a structural …
Persistent link: https://www.econbiz.de/10010752097
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Technology shocks and monetary policy : Revisiting the Fed's performance
Matheron, Julien; Avouyi-Dovi, Sanvi - Université Paris-Dauphine (Paris IX) - 2007
Would the U.S. economy's dynamic response to permanent technology shocks have been different from the actual responses if monetary authorities' systematic response to these shocks had been optimal ? To answer this question, we characterize the dynamic effects of permanent technology shocks and...
Persistent link: https://www.econbiz.de/10010707505
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Asset Returns and Business Cycles in Models with Investment Adjustment Cost
Beaubrun-Diant, Kevin; Tripier, Fabien - Université Paris-Dauphine (Paris IX) - 2005
We show that adjustment cost models with labor supply can explain both asset returns and business cycle facts when adjustment costs penalize the changes of investment. This conclusion stands in contrast to results obtained in the literature with adjustment costs that penalize the changes of capital.
Persistent link: https://www.econbiz.de/10010708592
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Search Frictions, Credit Market Liquidity, and Net Interest Margin Cyclicality
Beaubrun-Diant, Kevin; Tripier, Fabien - Université Paris-Dauphine (Paris IX) - 2015
The present paper contributes to the body of knowledge on search frictions in credit markets by demonstrating their ability to explain why the net interest margins of banks behave countercyclically. During periods of expansion, a fall in the net interest margin proceeds from two mechanisms: (i)...
Persistent link: https://www.econbiz.de/10011122209
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Inflation Target Shocks and Monetary Policy Inertia in the Euro Area
Fève, Patrick; Matheron, Julien; Sahuc, Jean-Guillaume - Université Paris-Dauphine (Paris IX) - 2010
The euro area as a whole has experienced a marked downward trend in inflation over the past decades and, concomitantly … these dynamics? To answer this question, we embed serially correlated changes in the inflation target into a DSGE model with … real and nominal frictions. The formal Bayesian estimation of the model suggests that gradual changes in the inflation …
Persistent link: https://www.econbiz.de/10011166314