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Wiederholt, Mirko - Palgrave Macmillan

Economists have studied for a long time how decision-makers allocate scarce resources. The recent literature on rational inattention studies how decision-makers allocate the scarce resource attention. The idea is that decision-makers have a limited amount of attention and have to decide how to...

Persistent link: https://www.econbiz.de/10009395648

The Challenges of the "New Economy" for Monetary Policy

Cette, G.; Pfister, C. - Banque de France - 2003

The advent and spread of information and communication technologies (ICTs) increase potential output growth . It is uncertain to what extent and for how long they do so. We use the term "new economy" (NE) to describe the acceleration in potential output growth and the attendant and partly...

Persistent link: https://www.econbiz.de/10005056529

Assessing the impact of demand shocks on the US term premium

Barnett, Russell; Zmitrowicz, Konrad - 2018

During and after the Great Recession of 2008-09, conventional monetary policy in the United States and many other advanced economies was constrained by the effective lower bound (ELB) on nominal interest rates. Several central banks implemented large-scale asset purchase (LSAP) programs, more...

Persistent link: https://www.econbiz.de/10011873794

The subjective inflation expectations of households and firms : measurement, determinants, and implications

Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - 2022

Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...

Persistent link: https://www.econbiz.de/10013271201

Uncertainty Shocks and Firm Dynamics : Search and Monitoring in the Credit Market

Brand, Thomas - 2019

other shocks, uncertainty in productivity turns out to be a major contributor to both macro-financial aggregates and firm …

Persistent link: https://www.econbiz.de/10012900563

The Subjective Inflation Expectations of Households and Firms: Measurement, Determinants, and Implications

Weber, Michael; D’Acunto, Francesco; Gorodnichenko, Yuriy - 2022

Persistent link: https://www.econbiz.de/10013351930

The Challenges of the 'New Economy' for Monetary Policy

Cette, Gilbert - 2010

The advent and spread of information and communication technologies (ICTs) increase potential output growth. It is uncertain to what extent and for how long they do so. We use the term "new economy" (NE) to describe the acceleration in potential output growth and the attendant and partly...

Persistent link: https://www.econbiz.de/10013134963

Investors' and Central Bank's Uncertainty Embedded in Index Options

David, Alexander - 2014

's and Treasury bond's ATMIV indices, which measure market and policy uncertainty, are countercyclical while the P/C index … composite regimes of economic and policy variables explains these dynamics, linking them to a learning based, forward …-looking Taylor rule. Survey data support our model's predictions on the impact of uncertainty on the level and fluctuations of …

Persistent link: https://www.econbiz.de/10013068731

The Impact of Macroeconomic News on US Interest Rates and Stock Indices Conditional on Their Volatility

Lubochinsky, Catherine - 2012

“good” and “large” news, on interest rates are amplified during "high" uncertainty periods. The effect on stock returns is …

Persistent link: https://www.econbiz.de/10013108222

Bank money, aggregate liquidity, and asset prices

Qiu, Junfeng - In: Annals of Economics and Finance 12 (2011) 2, pp. 295-346

We build a general equilibrium model to analyze how the ability of banks to create money can affect asset prices and financial stability. In the model, demand for liquidity takes the form of demand for money to make payments. We show that banks can provide elastic aggregate liquidity by creating...

Persistent link: https://www.econbiz.de/10009278160