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Macroeconomics, nonlinearities, and the business cycle

Reif, Magnus - 2019

Im Zentrum dieser Dissertation steht das Beschreiben und Erklären von Konjunkturdynamiken. Motiviert durch den außerordentlich starken wirtschaftlichen Einbruch in 2008/2009 betont die Arbeit dabei die Wichtigkeit der Nutzung von nichtlinearen Modellansätzen. Die Dissertation kann als Beitrag...

Persistent link: https://www.econbiz.de/10012154125

The macroeconomic forecasting model of the MNB

Békési, László; Köber, Csaba; Kucsera, Henrik; … - 2016

forecasting model necessary in the MNB. The model represents a small open economy. It is based on the DSGE philosophy but it … deviates from it at several points. The new features of the model, compared to previous forecasting models of the MNB, are that … expectation hypothesis at several points and treats expectations pragmatically and flexibly. The model parameters are calibrated …

Persistent link: https://www.econbiz.de/10011571328

Has Inflation Targeting Strategy Made A Difference in Ghanaian Macroeconomic Management? Analysis of Business Cycle Fluctuations and Econometric Estimates

Akosah, Nana Kwame; Paul Alagidede, Imhotep; Schaling, Eric - 2020

For over a decade of practicing inflation targeting (IT) strategy, inflation has remained high and persistent while economic growth momentum has boosted in Ghana. This paper investigates the relative macroeconomic benefits of the IT strategy in Ghana based on business cycle fluctuations and...

Persistent link: https://www.econbiz.de/10014093032

Bad for Euroland, worse for Germany : the ECB's record

Bibow, Jörg (contributor) - 2005

This paper assesses the contribution of the European Central Bank (ECB) to Germany's ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the bank...

Persistent link: https://www.econbiz.de/10003229840

Bad for Euroland, Worse for Germany - the Ecb's Record

Bibow, Jörg - 2006

Persistent link: https://www.econbiz.de/10012735028

Endogenous forward guidance

Chafwehé, Boris; Oikonomou, Rigas; Priftis, Romanos; … - 2018

We propose a novel framework where forward guidance (FG) is endogenously determined. Our model assumes that a monetary authority solves an optimal policy problem under commitment at the zero-lower bound. FG derives from two sources: 1. from commiting to keep interest rates low at the exit of the...

Persistent link: https://www.econbiz.de/10011920684

Endogenous forward guidance

Chafwehé, Boris; Oikonomou, Rigas; Priftis, Romanos; … - 2019

Persistent link: https://www.econbiz.de/10012304687

DSGE Models and Central Banks

Tovar, Camilo Ernesto - 2008

interested in their usefulness for policy analysis and forecasting. This paper reviews some issues and challenges surrounding the …

Persistent link: https://www.econbiz.de/10010298566

DSGE Models and Central Banks

Tovar, Camilo Ernesto - Institut für Weltwirtschaft (IfW) - 2008

interested in their usefulness for policy analysis and forecasting. This paper reviews some issues and challenges surrounding the …

Persistent link: https://www.econbiz.de/10005083409

A Taylor rule for fiscal policy in a fixed exchange rate regime

Pedersen, Jesper; Ravn, Søren Hove - 2014

We study fiscal policy in Denmark in the period 2004-2012 and compare the actual policy to counterfactual, rule-based alternatives. Given Denmark's fixed exchange rate towards the euro, it is the job of fiscal policymakers to stabilise fluctuations in output and inflation. However, we find that...

Persistent link: https://www.econbiz.de/10010371427