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Investigating the zero lower bound on the nominal interest rate under financial instability

Carrillo, Julio A.; Poilly, Céline - 2014

period, the volatility of inflation and output rise quick and sharply. Thus, an excessive forward guidance policy may …

Persistent link: https://www.econbiz.de/10010243420

Where is the Euro Area headed? : restoration of price stability

Malliaris, Anastasios G.; Malliaris, Mary E. - In: Journal of policy modeling : JPMOD ; a social science … 45 (2023) 4, pp. 848-863

Persistent link: https://www.econbiz.de/10014466339

Understanding persistent stagnation

Cuba-Borda, Pablo; Singh, Sanjay R. - 2019 - This version: February 2019

We theoretically explore long-run stagnation at the zero lower bound in a representative agent framework. We analytically compare expectations-driven stagnation to a secular stagnation episode and find contrasting policy implications for changes in government spending, supply shocks and...

Persistent link: https://www.econbiz.de/10012004630

Shocks versus structure : explaining differences in exchange rate pass-through across countries and time

Forbes, Kristin; Hjortsoe, Ida; Nenova, Tsvetelina - 2017

. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate …, forecasts predicting how a given exchange rate movement will impact inflation at a specific point in time should take into …

Persistent link: https://www.econbiz.de/10011671018

The Main Areas of Monetary Policy : Price Stability, Resistance to Shocks

Goryunov, Eugene - 2016

Bank of Russia does not give up the goal of reducing consumer inflation to 4% by the end of 2017, so the regulator plans to …

Persistent link: https://www.econbiz.de/10012977075

Identifying the effects of monetary policy shocks in an open economy

Jacobson, Tor; Jansson, Per; Vredin, Anders; Warne, Anders - 2002

This paper presents estimates of the effects of monetary policy shocks on the Swedish economy. A theoretical model of an open economy is used to identify a structural VAR model. The empirical results from the identified VAR model are compared with two less structural approaches for...

Persistent link: https://www.econbiz.de/10011583125

How should central banks react to household inflation heterogeneity?

Neyer, Ulrike; Stempel, Daniel - 2022

Empirical evidence suggests that considerable differentials in inflation rates exist across households. This paper … investigates how central banks should react to household inflation heterogeneity in a tractable New Keynesian model. We include two … households that differ in their consumer price inflation rates after adverse shocks. The central bank reacts to either an average …

Persistent link: https://www.econbiz.de/10012803661