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Monetary policy and the relative price of durable goods
Cantelmo, Alessandro; Melina, Giovanni - 2015
In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or … mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These …-sector New-Keynesian model. Here, the degree of overall durables price stickiness is not dramatically lower than that of …
Persistent link: https://www.econbiz.de/10010515460
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Monetary Policy and the Relative Price of Durable Goods
Cantelmo, Alessandro; Melina, Giovanni - 2015
In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or … mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These …-sector New-Keynesian model. Here, the degree of overall durables price stickiness is not dramatically lower than that of …
Persistent link: https://www.econbiz.de/10010531804
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Aggregate shocks and the Brazilian housing market dynamics
da Silva, Marcelo Eduardo Alves; Besarria, Cássio da … - In: EconomiA 20 (2019) 2, pp. 121-137
business cycle movements. We use a SVAR approach with sign restriction backed by a Dynamic Stochastic General Equilibrium (DSGE …
Persistent link: https://www.econbiz.de/10013466660
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Aggregate shocks and the Brazilian housing market dynamics
Silva, Marcelo Eduardo Alves da; Besarria, Cássio da … - In: Economia : revista da ANPEC 20 (2019) 2, pp. 121-137
business cycle movements. We use a SVAR approach with sign restriction backed by a Dynamic Stochastic General Equilibrium (DSGE …
Persistent link: https://www.econbiz.de/10012171072
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House prices and macroprudential policy in an estimated DSGE model of New Zealand
Funke, Michael; Kirkby, Robert; Mihaylovski, Petar - 2017
stochastic general equilibrium (DSGE) model tailored to New Zealand. We find that the main historical drivers of house prices are …
Persistent link: https://www.econbiz.de/10011657893
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How Does Monetary Policy Respond to Exchange Rate Movements? New International Evidence
Bjørnland, Hilde C.; Halvorsen, Jørn Inge - 2008
This paper analyzes how monetary policy responds to exchange rate movements in open economies, paying particular attention to the two-way interaction between monetary policy and exchange rate movements. We address this issue using a structural VAR model that is identified using a combination of...
Persistent link: https://www.econbiz.de/10012143695
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How does monetary policy respond to exchange rate movements? New international evidence
Bjørnland, Hilde C.; Halvorsen, Jørn I. - Norges Bank - 2008
This paper analyzes how monetary policy responds to exchange rate movements in open economies, paying particular attention to the two-way interaction between monetary policy and exchange rate movements. We address this issue using a structural VAR model that is identified using a combination of...
Persistent link: https://www.econbiz.de/10005481446
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How does monetary policy respond to exchange rate movements? New international evidence
Bjørnland, Hilde Christiane; Halvorsen, Jørn Inge - Centre for Applied Macro- and Petroleum economics … - 2010
This paper analyzes how monetary policy has responded to exchange rate movements in six open economies, paying particular attention to the two-way interaction between monetary policy and the exchange rate. We address this issue using a structural VAR model that is identified using a combination...
Persistent link: https://www.econbiz.de/10010553110
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House Prices and Macroprudential Policy in an Estimated DSGE Model of New Zealand
Funke, Michael; Kirkby, Robert; Mihaylovski, Petar - 2017
stochastic general equilibrium (DSGE) model tailored to New Zealand. We find that the main historical drivers of house prices are …
Persistent link: https://www.econbiz.de/10011698654
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Monetary policy without interest rates. Evidence from France's Golden Age (1948-1973) using a narrative approach
Monnet, Eric - 2012
quantities rather than on interest rates. Usual SVAR find no effect of policy shocks and support the common view that monetary …
Persistent link: https://www.econbiz.de/10012669382