Results 61 to 70 of about 25,753 (205)
CBDC as Imperfect Substitute to Bank Deposits: A Macroeconomic Perspective
Journal of Money, Credit and Banking, EarlyView.Abstract The impact of Central Bank Digital Currency (CBDC) is analyzed in a closed‐economy model with monopolistic competition in banking and where CBDC is an imperfect substitute with bank deposits. The design of CBDC is characterized by its interest rate, its substitutability with bank deposits, and its relative liquidity.
PHILIPPE BACCHETTA, ELENA PERAZZI
wiley +1 more source
Policy Biases in a Model with Labor‐Market Frictions
Journal of Money, Credit and Banking, EarlyView.Abstract We develop a model with labor‐market matching frictions that is subject to a range of shocks, including shocks to matching efficiency and bargaining power, and use the model to examine how monetary policy should respond to such shocks. We show that optimal monetary policy responds effectively to these shocks, producing economic outcomes that ...
RICHARD DENNIS, TATIANA KIRSANOVA
wiley +1 more source
Macroeconomic Effects of Maritime Transport Costs Shocks: Evidence from the South Korean Economy
Mathematics, 2023 In the aftermath of the COVID-19 pandemic, the dramatic increase in maritime transport costs might potentially exert detrimental impacts on the macroeconomy, especially for countries that heavily rely on international trade for their consumption and ...
Xingong Ding, Yong-Jae Choi
doaj +1 more source
Monetary Policy and Dark Corners in a stylized Agent-Based Model [PDF]
, 2016 We extend in a minimal way the stylized model introduced in in "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a `Central Bank' that sets the interest
Bouchaud, Jean-Philippe +3 more
core +6 more sources
Demographic Dynamics and International Trade: Stylized Facts and Theoretical Insights
Journal of Economic Surveys, EarlyView.ABSTRACT Demographic change within a country has economic repercussions for other countries through international transactions. Ongoing shifts in population size and age structure across countries have important implications for international trade, operating through changes in market size, consumption preferences, and labor supply.
Kumuthini Sivathas
wiley +1 more source
Metroeconomica, EarlyView.ABSTRACT This paper examines the complex relationship between government debt and income distribution within a post‐Keynesian framework. Extending the model of You and Dutt (1996), we model both capitalists and workers as holders of government bonds, enabling a more nuanced analysis of income distribution dynamics.
Hagen M. Krämer +2 more
wiley +1 more source
Welfare Implications of Alternative Monetary Policy Rules: A New Keynesian DSGE Model for Turkey
Review of Economic Perspectives, 2017 In recent years, there has been extensive research on the conduct of monetary policy in small open economies that are subject to inflation and output fluctuations.
Yağcıbaşı Özge Filiz +1 more
doaj +1 more source
Non-uniqueness of deep parameters and shocks in estimated DSGE models: a health warning [PDF]
, 2012 Estimation of dynamic stochastic general equilibrium (DSGE)models using state space methods implies vector autoregressive moving average (VARMA)representations of the observables.
Wright, Stephen
core +1 more source
Evaluating Historical Episodes using Shock Decompositions in the DSGE Model [PDF]
, 2020 We present alternative methods for calculating and interpreting the influence of exogenous shocks on historical episodes within the context of DSGE models.
Aligishiev, Z. +2 more
core
Output Gap Uncertainty, Sovereign Risk Premia and the Contingent Importance of the Bond Vigilantes
Metroeconomica, EarlyView.ABSTRACT This paper investigates the implications of output gap uncertainty for the conduct of fiscal policy using a small‐scale macroeconomic model with boundedly rational agents. Specifically, agents use an adaptive updating mechanism to approximate the unobservable potential output that suffers, similarly to the Hodrick and Prescott (1997) filter ...
Christian R. Proaño, Jonas Dix
wiley +1 more source