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Assessing uncertainty in Europe and the US - Is there a common factor?

Sauter, Oliver - 2012

This paper aims an empirical investigation of uncertainty in the Euro Zone as well as the US. For this purpose I … conduct a factor analysis of uncertainty measures starting in 2001 until the end of 2011. I use survey-based data provided by … implied volatility of stock market movements. Each measure shows an increase in uncertainty during the last years marked by …

Persistent link: https://www.econbiz.de/10010309039

Assessing uncertainty in Europe and the US - Is there a common factor?

Sauter, Oliver - Forschungszentrum Innovation und Dienstleistung, … - 2012

Persistent link: https://www.econbiz.de/10010955031

Assessing uncertainty in Europe and the US : is there a common factor?

Sauter, Oliver - 2012

Persistent link: https://www.econbiz.de/10009548349

Time-varying risk shocks and the zero lower bound

Strobel, Johannes; Lee, Gabriel S.; Salyer, Kevin Duff - 2019

This paper shows that increased volatility of Örm-level productivity can push the nominal interest rate to its lower bound with large amplification effects on macroeconomic aggregates. The framework combines a simple canonical Önancial accelerator model, time varying risk shocks, and a zero...

Persistent link: https://www.econbiz.de/10012231163

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

rational inattention

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

Oil Prices, Policy Uncertainty and Asymmetries in Inflation Expectations

Istiak, Khandokar - 2019

We investigate the possible asymmetric response of inflation expectations to oil price and policy uncertainty shocks …. Unlike other studies that assume symmetric effects, our study finds asymmetric effects of oil price and policy uncertainty on …

Persistent link: https://www.econbiz.de/10012894241

Integrating uncertainty and monetary policy-making : a practitioner's perspective

Poloz, Stephen S. - 2014

incorporation of uncertainty into policy decision-making. The sort of post-crisis uncertainty that central banks are dealing with … this burden of coherence means that fundamental uncertainty must be incorporated explicitly into the policy formulation … management, one consequence of which is to inject a little more realism about uncertainty into the policy narrative, while …

Persistent link: https://www.econbiz.de/10010414864

The Equity Premium, Long-Run Risk, & Optimal Monetary Policy

Diercks, Anthony M. - 2015

In this study I examine the welfare implications of monetary policy by constructing a novel New Keynesian model that properly accounts for asset pricing facts. I find that the Ramsey optimal monetary policy yields an inflation rate above 3.5% and inflation volatility close to 1.5%. The same...

Persistent link: https://www.econbiz.de/10013014250

Uncertainty and monetary policy experimentation : empirical challenges and insights from academic literature

Cacciatore, Matteo; Matveev, Dmitry; Sekkel, Rodrigo - 2022

Central banks face considerable uncertainty when conducting monetary policy. Some of the reasons for this include … policy is affected by uncertainty from various sources, including lack of or imperfect observation of economic variables … the key sources of this uncertainty and their implications for the conduct of monetary policy. First, we discuss evidence …

Persistent link: https://www.econbiz.de/10013175442