Results 81 to 90 of about 3,238 (236)

Central Bank Digital Currency with Collateral‐Constrained Banks

Journal of Money, Credit and Banking, EarlyView.
Abstract We analyze risks to bank intermediation following the introduction of a central bank digital currency (CBDC) competing with commercial bank deposits as households' source of liquidity. We revisit the equivalence of payment systems result, introducing a collateral constraint on banks' borrowing from the central bank.
HANFENG CHEN, MARIA ELENA FILIPPIN
wiley   +1 more source

A Markov-Switching DSGE model for measuring the output gap in Brazil

Latin American Journal of Central Banking
The output gap, while inherently unobservable, plays a pivotal role in informing policymakers due to its significant implications for forecasting inflation rates and understanding the mechanisms of monetary policy transmission.
Eleonora de Oliveira, Andreza A. Palma, Marcelo S. Portugal   +2 more
doaj   +1 more source

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

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

The Role of Labour Market Institutions in Shaping Euro Area Monetary Policy Transmission

Oxford Bulletin of Economics and Statistics, EarlyView.
ABSTRACT We examine how labour market institutions shape monetary policy transmission in euro area countries. A theoretical model suggests that higher union density flattens the Phillips curve, amplifying output responses while dampening the inflation effects of monetary shocks. This is empirically confirmed using an interacted panel VAR.
Maximilian Boeck, Christian Glocker
wiley   +1 more source

An Estimated DSGE Model of the Indian Economy [PDF]

, 2012
AbstractThis article studies business cycle dynamics in the Indian economy using a new Keynesian dynamic stochastic general equilibrium (DSGE) framework. This is one of the first attempts to estimate a DSGE model for the Indian economy. The policy relevance of conducting such an exercise is without question: High growth in India since 1991 has been ...
Gabriel, V, Levine, P, Pearlman, J, Yang, B   +3 more
openaire   +6 more sources

What Are The Drivers of Labor Productivity in Italy?

Oxford Bulletin of Economics and Statistics, EarlyView.
ABSTRACT This paper introduces a novel sign restriction identification within a structural Bayesian vector autoregression (VAR) to analyse how labour productivity responds to supply and demand shocks and to quantify the contribution of shocks to cyclical fluctuations.
Josué Diwambuena, Francesco Ravazzolo
wiley   +1 more source

Who influenced inflation persistence in China? A comparative analysis of the standard CIA model and CIA model with endogenous money

South African Journal of Economic and Management Sciences, 2013
In this paper, we examine the influencing factors of inflation persistence in China’s economy using the DSGE approach. Two monetary DSGE models are estimated, namely, a standard CIA model and a CIA model with a Taylor rule. This article uses the Bayesian
Liao Ying, Ridong Hu
doaj   +1 more source

Is There an Information Channel of Monetary Policy?

Oxford Bulletin of Economics and Statistics, EarlyView.
ABSTRACT Exploiting the heteroskedasticity of the changes in short‐term and long‐term interest rates and exchange rates around the FOMC announcement, we identify three structural monetary policy shocks. We eliminate the predictable part of the shocks and study their effects on financial variables and macro variables.
Oliver Holtemöller, Alexander Kriwoluzky, Boreum Kwak   +2 more
wiley   +1 more source

Modelos de equilibrio general dinámicos y estocásticos para Colombia 1995 – 2011

Ecos de Economía, 2011
Este documento presenta una revisión cronológica de los Modelos de Equilibrio General Dinámicos y Estocásticos (DSGE) desde 1995 hasta el 2011 desarrollados para la economía colombiana.
Ramiro Rodríguez Revilla
doaj