Showing 1 - 10 of 71
Persistent link: https://www.econbiz.de/10009328868
Persistent link: https://www.econbiz.de/10010725803
The financial crisis and subsequent economic recession led to a rapid increase in the issuance of public debt. But large-scale purchases of bonds by the Federal Reserve, and other major central banks, have significantly reduced the scale and maturity of public debt that would otherwise have been...
Persistent link: https://www.econbiz.de/10010727978
The financial crisis and subsequent economic recession led to a rapid increase in the issuance of public debt. But large-scale purchases of bonds by the Federal Reserve, and other major central banks, have significantly reduced the scale and maturity of public debt that would otherwise have been...
Persistent link: https://www.econbiz.de/10010859424
In this paper we consider the optimal control problem of models with Markov regime shifts and forward-looking agents. These models are very general and flexible tools for modelling model uncertainty. An algorithm is devised to compute the solution of a linear rational expectations model with...
Persistent link: https://www.econbiz.de/10005737910
This paper examines the trade-offs that a central bank faces when the exchange rate can experience sustained deviations from fundamentals and occasionally collapse. The economy is modelled as switching randomly between different regimes according to time-invariant transition probabilities. We...
Persistent link: https://www.econbiz.de/10005737945
Since the start of the financial crisis, industrial country public debt levels have increased dramatically. And they are set to continue rising for the foreseeable future. A number of countries face the prospect of large and rising future costs related to the ageing of their populations. In this...
Persistent link: https://www.econbiz.de/10008503113
Persistent link: https://www.econbiz.de/10005229467
Over the last two decades the United Kingdom has experienced a dramatic increase in the amount of household debt and in the level of house prices. The question which interests us is the extent to which these developments can be explained through structural changes to the UK economy. These...
Persistent link: https://www.econbiz.de/10005342928
Persistent link: https://www.econbiz.de/10010543909