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Collateral, output growth, mortgage spread volatility and subsidies in Colombia

López, Martha; Sarmiento Gómez, Eduardo - 2024

Persistent link: https://www.econbiz.de/10015145548

The Expectational Effects of News in Business Cycles : Evidence from Forecast Data

Miyamoto, Wataru - 2017

This paper proposes to exploit data on expectations to identify news shocks in business cycles. News shocks work through changes in expectations, so data on expectations contain important information for identification. We demonstrate this by estimating a DSGE model augmented with news shocks...

Persistent link: https://www.econbiz.de/10012972743

Calculating government consumption multipliers in New Zealand using an estimated DSGE model

Binning, Andrew - 2024

Fiscal multipliers provide a way of quantifying the GDP gain for a given (discretionary) fiscal policy intervention. I compute government consumption multipliers for New Zealand, in normal times and when monetary policy is constrained at the effective lower bound, using an estimated...

Persistent link: https://www.econbiz.de/10014533165

The stimulative effects of anticipated government spending expansions : evidence from survey forecasts

Nam, Deokwoo; Li, Xiaole - In: Hitotsubashi journal of economics 65 (2024) 1, pp. 1-31

Persistent link: https://www.econbiz.de/10015407402

Modeling consumer confidence and its role for expectation formation : a horse race

Jang, Tae-Seok; Sacht, Stephen - 2017

The notion of bounded rationality has received a considerable attention in the midst of debate over the usefulness of various macroeconomic models. In this paper we empirically seek to analyze the baseline New-Keynesian model with heterogeneous agents who may adopt various heuristics used to...

Persistent link: https://www.econbiz.de/10011635481

Lack of identification of parameters in a simple behavioral macroeconomic model

Lux, Thomas - 2024

Identifiability of the parameters is an important precondition for consistent estimation of models designed to describe … empirical phenomena. Nevertheless, many estimation exercises proceed without a preliminary investigation into the … careful investigation of identifiability should preceed any attempt at estimation of such models. …

Persistent link: https://www.econbiz.de/10014581341

Forecast heuristics, consumer expectations, and new-Keynesian macroeconomics : a horse race

Jang, Tae-Seok; Sacht, Stephen - 2018

This study extends the hybrid version of the baseline New-Keynesian model with heterogeneous agents who may adopt various forecast heuristics. With a focus on consumer expectations, we identify the most appropriate pairs of forecast heuristics that can lead to an equivalent fit to the data...

Persistent link: https://www.econbiz.de/10011942376

Macroeconomic dynamics under bounded rationality : on the impact of consumers' forecast heuristics

Jang, Tae-Seok; Sacht, Stephen - 2018

In this study, we analyze the macroeconomic dynamics under various shocks in two competing frameworks. Given the baseline New-Keynesian model, we compare the impulse response functions that stem from the hybrid version under rational expectations with the ones obtained in the forward-looking...

Persistent link: https://www.econbiz.de/10011942439

Macroeconomic and stock market interactions with endogenous aggregate sentiment dynamics

Flaschel, Peter; Charpe, Matthieu; Galanis, Giorgos; … - 2017

This paper studies the implications of heterogeneous capital gain expectations on output andasset prices. We consider a disequilibrium macroeconomic model where agents' expectations on future capital gains affect aggregate demand. Agents' beliefs take two forms - fundamentalist and chartist -...

Persistent link: https://www.econbiz.de/10011736031

Macroeconomic and stock market interactions with endogenous aggregate sentiment dynamics

Flaschel, Peter; Charpe, Matthieu; Galanis, Giorgos; … - 2017

This paper studies the implications of heterogeneous capital gain expectations on output and asset prices. We consider a disequilibrium macroeconomic model where agents' expectations on future capital gains affect aggregate demand. Agents' beliefs take two forms - fundamentalist and chartist -...

Persistent link: https://www.econbiz.de/10011657761