Results 71 to 80 of about 3,238 (236)

Data revisions and DSGE models [PDF]

Journal of Econometrics, 2014
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
openaire   +2 more sources

Interest Rate Pegs and the Reversal Puzzle: On the Role of Anticipation

Journal of Money, Credit and Banking, EarlyView.
Abstract We revisit the reversal puzzle: a counterintuitive contraction of inflation in response to an interest rate peg. We show that its occurrence is intimately related to the degree of agents' anticipation. If agents perfectly anticipate the peg, reversals occur depending on the duration of the peg.
RAFAEL GERKE, SEBASTIAN GIESEN, DANIEL KIENZLER   +2 more
wiley   +1 more source

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 mix under stress: review of economic reactions to fiscal and monetary policies using DSGE

Entrepreneurship and Sustainability Issues
The paper aims to review the studies with a particular emphasis on the response of selected economies to the central bank's monetary policy and the government's fiscal policy during various economic shocks developed using DSGE models. Countries generally
Joanna Stawska, Paulo Reis Mourao
doaj   +1 more source

Preferred habitat and the term structure of interest rates in DSGE models

Journal of Applied Economics, 2019
The aim of the present study is to use an alternative approach to derive the term structure of interest rates in DSGE models, which is based on the theory of preferred habitat.
Celso J. Costa
doaj   +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

Predictive performance of DSGE model for small open economy – the case study of Czech Republic

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2013
Multivariate time series forecasting is applied in a wide range of economic activities related to regional competitiveness and is the basis of almost all macroeconomic analysis.
Tomáš Jeřábek, Jakub Trojan, Radka Šperková   +2 more
doaj   +1 more source

The Role of Remittances and FDI for the Current Account: The Case of Cambodia

Journal of Money, Credit and Banking, EarlyView.
Abstract This paper develops a small open economy real‐business‐cycle model to examine the dynamics of Cambodian current account. Differing from previous studies, our model incorporates both net foreign direct investment (FDI) and remittances as additional sources of macro‐economic fluctuations. Our results reveal that these two factors, especially FDI,
VEASNA KHENG, LEI PAN, XIAODONG FAN
wiley   +1 more source

Banking with Inside Money: An Efficiency Analysis

Journal of Money, Credit and Banking, EarlyView.
Abstract We show that banks do not decentralize the first best in a nominal Diamond–Dybvig economy with inside money. Furthermore, state‐contingent deposit contracts do not expand the consumption possibility set to include the first best either. Central banks can improve welfare but only for savers and only with unconventional monetary policy. Finally,
DAVID RIVERO, HUGO RODRÍGUEZ MENDIZÁBAL   +1 more
wiley   +1 more source

Exchange rate forecasting with DSGE models [PDF]

Journal of International Economics, 2016
Abstract We run an exchange rate forecasting “horse race”, which highlights that three principles hold. First, forecasts should not replicate the high volatility of exchange rates observed in sample. Second, models should exploit the mean reversion of the real exchange rate over long horizons. Third, they should account for the international price co-
Ca' Zorzi, Michele, Kolasa, Marcin, Rubaszek, Michał   +2 more
openaire   +2 more sources