Motivated by the use of forward guidance, we propose a method to estimate DSGE models in which the central bank holds the policy rate fixed for an extended period. Private agents’ beliefs about how long the fixed-rate regime will last influences, among other observable variables, current...

Motivated by the increasing use of forward guidance, we consider DSGE models in which the central bank holds the policy rate fixed for an extended period of time. Private agents' beliefs about how long the fixed-rate regime will last in uences current output and in ation. We estimate the...

Motivated by the increasing use of forward guidance, we consider DSGE models in which the central bank holds the policy rate fixed for an extended period of time. Private agents’ beliefs about how long the fixed-rate regime will last influences current output and inflation. We estimate the...

Network models are widely used to represent relations between interacting units or actors. Network data often exhibit transitivity, meaning that two actors that have ties to a third actor are more likely to be tied than actors that do not, homophily by attributes of the actors or dyads, and...

Based on two snapshots taken from the Australian economy, this study quantifies the impacts of final demand aggregates on output and employment in various sectors using the 1989 and 1997 conversion matrices. The sectoral output and employment are linked with final demand deliveries in such a way...

From 1920 until nationalisation, privately owned gas companies in Britain were regulated under one of three systems: the Maximum Price, the Sliding Scale, or the Basic Price system. In effect, the industry was the subject of a remarkable experiment in regulation. Hitherto, there has been no...

This paper studies the macroeconomic consequences of ageing in an overlapping-generations model with endogenous retirement. We study the behaviour of the economy when population ageing is driven by movements in fertility, changes in longevity, and a combination of both. To gauge the economic...