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Xavier, Inês - 2022

This paper studies the consequences of asset bubbles for economies that are vulnerable to persistent stagnation. Stagnation is the result of a shortage of assets that creates an oversupply of savings and puts downward pressure on the level of interest rates. Once the zero lower bound on the...

Persistent link: https://www.econbiz.de/10013406094

New economy - Wunschtraum oder Realität?

Stierle, Michael Harold - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 80 (2000) 9, pp. 549-557

Persistent link: https://www.econbiz.de/10001510723

Eine neue Wirtschaft im neuen Jahrtausend?

Kalmbach, Peter - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 80 (2000) 4, pp. 210-217

Persistent link: https://www.econbiz.de/10001469036

Non-Linearity in the Inflation-Growth Relationship in Developing Economies : Evidence from a Semiparametric Panel Model

Baglan, Deniz - 2014

potentially nonlinear effects of inflation on economic growth. We find that inflation is associated with significantly lower … effects of inflation on economic growth. We also document significant variation in the effect of inflation on growth across …

Persistent link: https://www.econbiz.de/10013049480

How Useful are Estimated DSGE Model Forecasts?

Edge, Rochelle M.; Gürkaynak, Refet S. - 2011

basis, however, we find that the benchmark estimated medium scale DSGE model forecasts inflation and GDP growth very poorly … monetary policy especially inflation deviations should be unpredictable a "wrong" model may also have the same implication. We …

Persistent link: https://www.econbiz.de/10014183366

The optimal inflation rate with discount factor heterogeneity

Lepetit, Antoine - 2018

choose a path for the inflation rate that ends with a non-zero value. Such a property is relevant in a wide range of … youth structure. In this setting, profit flows are discounted more heavily than utility flows and the optimal inflation … long-run inflation rate in models with firm entry and exit and in environments with search and matching frictions in the …

Persistent link: https://www.econbiz.de/10012016683

Recovery of 1933

Jacobson, Margaret; Preston, Bruce; Leeper, Eric M. - 2023

When Roosevelt abandoned the gold standard in April 1933, he converted government debt from a tax-backed claim to gold to a claim to dollars, opening the door to unbacked fiscal expansion. Roosevelt followed a state-contingent fiscal rule that ran nominal-debt-financed primary deficits until the...

Persistent link: https://www.econbiz.de/10014354637

Monetary Policy and Economic Performance Since the Financial Crisis

Caldara, Dario; Gagnon, Etienne; Martínez-García, Enrique - 2020

We review macroeconomic performance over the period since the Global Financial Crisis and the challenges in the pursuit of the Federal Reserve’s dual mandate. We characterize the use of forward guidance and balance sheet policies after the federal funds rate reached the effective lower bound....

Persistent link: https://www.econbiz.de/10014048774

The effect of banks' financial position on credit growth : evidence from OECD countries

Rappoport, David E. - 2016

This paper presents empirical evidence on the effect of banks' financial position on credit growth using a sample of 29 OECD countries. The failure of the exogeneity assumption of explanatory variables is addressed using dynamic panel type instruments. The empirical results show that among...

Persistent link: https://www.econbiz.de/10011579142

Tractable rare disaster probability and options-pricing

Barro, Robert J.; Liao, Gordon Y. - 2019

We derive an option-pricing formula from recursive preference and estimate rare disaster probability. The new options-pricing formula applies to far-out-of-the money put options on the stock market when disaster risk dominates, the size distribution of disasters follows a power law, and the...

Persistent link: https://www.econbiz.de/10012182396