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Robust Control and Persistence in New Keynesian Monetary Policy Analysis

Paetz, Michael - 2007

von gestörten Modellen um das Referenzmodell und wählt die optimale Geldpolitik so, dass diese im ungünstigsten Modellfall … geldpolitisches Instrument beinhaltet. Wesentlich für die Herleitung der optimalen Geldpolitik ist die Persistenz in der Inflations … zwischen Geldpolitik und verschiedenen Arten von Unsicherheit verdeutlicht, bevor in Kapitel 3 die derzeitige state …

Persistent link: https://www.econbiz.de/10009449715

IMPERFECT CAPITAL MARKETS, INCOMEDISTRIBUTION AND THE ‘CREDIT CHANNEL’: AGENERAL EQUILIBRIUM APPROACH

Bougheas, Spiros - University <Nottingham> / Department of Economics - 2002

We develop and analyse a simple general equilibrium model withcapital market imperfections We find that the impact of monetarypolicy on real economic activity depends on the initial distributionof wealth in the economy. Changes in the opportunity cost of fundsaffect not only the choice of...

Persistent link: https://www.econbiz.de/10005868933

Monetary Policy Transmission through the Consumption-Wealth Channel

Ludvigson, Sydney C.; Steindel, Charles; Lettau, Martin - New York University / Department of Economics; Federal …

Asset market values react to economic news and policychanges, and consumers react to changes in asset marketvalues. The consumption-wealth channel of monetary policyspells out this mechanism: changes in monetary policy affectasset values, which in turn affect consumer spending onnondurable goods...

Persistent link: https://www.econbiz.de/10005869379