The unconventional monetary policy of forward guidance operates through the management of expectations about future paths of interest rates. This paper examines the link between expectations formation and the effectiveness of forward guidance. A standard New Keynesian model is extended to...

Central bank forward guidance emerged as a pertinent tool for monetary policymakers since the Great Recession. Nevertheless, the effects of forward guidance remain unclear. This paper investigates the effectiveness of forward guidance while relaxing two standard macroeconomic assumptions:...

Article introduces the notion of information money fields of the cyclic oscillations of the economic variables in the nonlinear dynamic economic system for the first time, and presents an original research on the Ledenyov theory on the information money fields of the cyclic oscillations of the...

The information, including the knowledge in the science, business and society, is being generated, transmitted, received and analyzed by the humans in the various countries over the centuries. The information is a most valuable asset in possession by the economic agents in the modern economies...

The information, including the knowledge in the science, business and society, is being generated, transmitted, received and analyzed by the humans in the various countries for many centuries. The generated information can be structured, coded, stored and retrieved, representing a most valuable...

Article considers a research problem on the precise measurement of the macroeconomic variables changes in the time domain in the macroeconomics science. We propose to use the three dimensional (3D) wave diagram in the macroeconomics science for the first time, aiming to accurately characterize...

Article considers a research problem on the precise measurement of the macroeconomic variables changes in the time domain in the macroeconomics science. We propose to use the three dimensional (3D) wave diagram in the macroeconomics science for the first time, aiming to accurately characterize...

In this chapter, we review the recent and growing literature on medium-term growth patterns. This strand of research emerged from the realization that for most countries economic development is a highly unstable process; over a few decades, a typical country enjoys periods of rapid growth as...

As is well known in systems theory, the parameter space of most dynamic models is stratified into subsets, each of which supports a different kind of dynamic solution. Since we do not know the parameters with certainty, knowledge of the location of the bifurcation boundaries is of fundamental...

This paper analyzes the properties of forecast bias in the Survey of Professional Forecasters in relation to economic policy uncertainty. Employing the quarterly forecast bias of 14 key macroeconomic variables and 12 measures of policy uncertainty from 1985 to 2020, we demonstrate that most real...