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Estimating interest rate setting behavior in Korea : a constrained ordered choices model approach

Kim, Hyeongwoo; Shi, Wen; Hwang, Kwang‐Myoung - 2015

Persistent link: https://www.econbiz.de/10011487414

An estimated DSGE model with a deflation steady state

Hirose, Yasuo - In: Macroeconomic dynamics 24 (2020) 5, pp. 1151-1185

Persistent link: https://www.econbiz.de/10012241300

Monetary Policy, Rule-of-Thumb Consumers and External Habits: A G7 Comparison

Di Bartolomeo, Giovanni; Rossi, Lorenza; Tancioni, … - 2009

This paper extends the standard New Keynesian dynamic stochastic general equilibrium (DSGE) model to agents who cannot smooth consumption (i.e. spenders) and are affected by external consumption habits. Although these assumptions are not new, their joint consideration strongly affects some...

Persistent link: https://www.econbiz.de/10010343913

Estimating monetary policy rules when the zero lower bound on nominal interest rates is approached

Kiesel, Konstantin; Wolters, Maik H. - 2014

Monetary policy rule parameters estimated with conventional estimation techniques can be severely biased if the … estimation sample includes periods of low interest rates. Nominal interest rates cannot be negative, so that censored regression … methods like Tobit estimation have to be used to achieve unbiased estimates. We use IV-Tobit regression to estimate monetary …

Persistent link: https://www.econbiz.de/10010235450