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Are central bank preferences asymmetric? A comment

Minford, Patrick; Srinivasan, Naveen - 2008

A recent paper by Ruge-Murcia [European Economic Review 48 (2004), 91-107] on asymmetric central bank objectives provides a new perspective on the policy roots of inflation in developed economies. More precisely, the paper demonstrates that if the distribution of the supply shocks is normal,...

Persistent link: https://www.econbiz.de/10010322781

An endogenous Taylor condition in an endogenous growth monetary policy model

Le, Mai Vo; Gillman, Max; Minford, Patrick - 2007

The paper derives a Taylor condition as part of the agentís equilibrium behavior in an endogenous growth monetary economy. It shows the assumptions necessary to make it almost identical to the original Taylor rule, and that it can interchangably take a money supply growth rate form. From the...

Persistent link: https://www.econbiz.de/10010322784

Dynamic stochastic general equilibrium (DSGE) priors for Bayesian vector autoregressive (BVAR) models: DSGE model comparison

Theodoridis, Konstantinos - 2007

This Paper describes a procedure for constructing theory restricted prior distributions for BVAR models. The Bayes …

Persistent link: https://www.econbiz.de/10010322787

New Keynesian macroeconomics: Entry for New Palgrave Dictionary of Economics, 2nd Edition

Dixon, Huw David - 2007

key defining feature NKM is the introduction of imperfect competition, making price and/or wage setting endogenous and … hence allowing for a rigorous understanding of nominal rigidity. This has led to a shift away from perfect competition in … themes in NKM include efficiency wage theory and coordination failure. …

Persistent link: https://www.econbiz.de/10010322788

Optimal monetary policy under inflation targeting: Is zero the optimal perception of inflation inertia?

Páez-Farrell, Juan - 2007

Recent research has suggested that in deriving optimal policy under discretion, policymakers should react as if there were no structural inflation persistence in order to improve welfare. This paper considers whether such a strong result extends to an inflation targeting central bank with a more...

Persistent link: https://www.econbiz.de/10010322789

On-the-run premia, settlement fails, and central bank access

Schneider, Fabienne - 2024

theory is consistent with the USD 40 billion of Treasury contracts that fail to settle each day, with the median failure rate …

Persistent link: https://www.econbiz.de/10015053569

Transition to green technology along the supply chain

Aghion, Philippe; Barrage, Lint; Hémous, David; Liu, Ernest - 2024

We analyze a model of green technological transition along a supply chain. In each layer, a good is produced with a dirty technology, or, if the required "electriffcation" innovation has occurred, with a clean technology which uses the immediate upstream good. We show that the economy is...

Persistent link: https://www.econbiz.de/10015066586

Assessing misspecification and aggregation for structured preferences

Allen, Roy E.; Rehbeck, John - 2019

Applied research often tolerates misspecification in order to reach informative conclusions. We focus on how the degree of misspecification varies with the level of aggregation of data for quasilinear utility models. We present aggregation results formalizing that the model cannot get worse when...

Persistent link: https://www.econbiz.de/10012696346

Das Allgemeine Verhaltensmodell von March und Simon

Martin, Albert - 2021

Das Allgemeine Verhaltensmodell von March und Simon verknüpft vier fundamentale Konstrukte der Verhaltenstheorie: das Anspruchsniveau, die Belohnungserwartung, die Zufriedenheit und die Suche nach Verhaltensweisen, die Erfolg und Zufriedenheit versprechen. Die Teilmechanismen, die in dem Modell...

Persistent link: https://www.econbiz.de/10012745155

The Issue of Weights in Panel Surveys of Individual Behavior

Hoem, Jan M. - 1987

Persistent link: https://www.econbiz.de/10011652515