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The Effects of Anticipated Future Change in the Monetary Policy Regime

Brázdik, František - 2011

In this paper, we investigate the effects of an anticipated future change in monetary policy regime in small open economies targeting either inflation or the exchange rate. The announcement of a future change in the monetary policy regime triggers an immediate change in the behavior of...

Persistent link: https://www.econbiz.de/10013124133

Announced Regime Switch : Optimal Policy for Transition Period

Brázdik, František - 2010

The novelty of this work is the presentation of the theoretical framework that allows to model announced change of the monetary regime. I analyze behavior of small open economy that announced to adopt a monetary policy regime with focus on offsetting nominal exchange rate changes in given number...

Persistent link: https://www.econbiz.de/10013149098

Macroeconomic Stability : Transition Towards the Nominal Exchange Rate Stability

Brázdik, František - 2013

The novelty of this work is in the presentation of a theoretical framework that allows the modeling of an announced switch of the monetary regime. In our experiment, the monetary authority announces stabilization of the nominal exchange rate after the announced number of periods. We analyze the...

Persistent link: https://www.econbiz.de/10013095584

Effects of state-dependent forward guidance, large-scale asset purchases and fiscal stimulus in a low-interest-rate environment

Coenen, Günter; Montes-Galdón, Carlos; Smets, Frank - 2020

We study the incidence and severity of lower-bound episodes and the efficacy of three types of state-dependent policies - forward guidance about the future path of interest rates, large-scale asset purchases and spending-based fiscal stimulus - in ameliorating the adverse consequences stemming...

Persistent link: https://www.econbiz.de/10012149255

Effects of state-dependent forward guidance, large-scale asset purchases and fiscal stimulus in a low-interest-rate environment

Coenen, Günter; Montes-Galdon, Carlos; Smets, Frank - 2020

Persistent link: https://www.econbiz.de/10012389555

Effects of State-Dependent Forward Guidance, Large-Scale Asset Purchases and Fiscal Stimulus in a Low-Interest-Rate Environment

Coenen, Günter - 2020

We study the incidence and severity of lower-bound episodes and the efficacy of three types of state-dependent policies—forward guidance about the future path of interest rates, large-scale asset purchases and spending-based fiscal stimulus—in ameliorating the adverse consequences stemming...

Persistent link: https://www.econbiz.de/10012844862

Policy and Spillover Analysis in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - 2014

, spillover analysis, and forecasting applications of the estimated model are demonstrated. These include quantifying the monetary …

Persistent link: https://www.econbiz.de/10013040410

Policy Analysis and Forecasting in the World Economy : A Panel Unobserved Components Approach

Vitek, Francis - 2012

policy analysis, spillover analysis, and forecasting applications of the estimated model are demonstrated, based on a …

Persistent link: https://www.econbiz.de/10013102206

Policy Analysis and Forecasting in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - 2014

forecasting applications of the estimated model are demonstrated, based on a Bayesian framework for conditioning on judgment …

Persistent link: https://www.econbiz.de/10013060545

Would DSGE models have predicted the Great Recession in Austria?

Breuss, Fritz - 2016

story-telling and policy analysis were in the forefront of applications since its inception, the forecasting perspective of … models are inferior in ex-ante forecasting a crisis. Surprisingly however, it turned out that not all but those models which … only detect the turning point of the Austrian business cycle early in 2008 but they also succeeded in forecasting the …

Persistent link: https://www.econbiz.de/10011630409