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uncertainty in an analysis of these policies. We model FG as an anticipated temporary interest rate peg. The degree of parameter … uncertainty is considerable and increasing in the length of FG. The probability of being able to reset prices and wages is the … most important factor driving uncertainty about inflation. In contrast, variations in financial intermediaries' net worth …
Persistent link: https://www.econbiz.de/10011846905
Recent contributions have shown that it is possible to account for the so-called consumptionreal exchange anomaly in models with goods market frictions where international asset trade is limited to a riskless bond. In this paper, we consider a more realistic international asset market structure...
Persistent link: https://www.econbiz.de/10008988794
uncertainty shocks in the euro area and the US, paying particular attention to their effects on prices. While our results confirm … impact of financial and uncertainty shocks on real activity. …
Persistent link: https://www.econbiz.de/10011897983
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Using survey data from German households, we find that individuals with lower climate concern tend to have higher inflation expectations up to five years ahead. This correlation is most pronounced among individuals with extremely high inflation expectations. Evaluating candidate explanations, we...
Persistent link: https://www.econbiz.de/10013171786
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critical moderating factors for this heterogeneity; differences in individual uncertainty about future inflation and …
Persistent link: https://www.econbiz.de/10014320795
.We find that under flexible inflation targeting and uncertainty in the degree of persistence in the economy, allowing for …
Persistent link: https://www.econbiz.de/10010273990
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