Results 141 to 150 of about 25,835 (262)

Monetary Policy and Government Debt

Journal of Money, Credit and Banking, EarlyView.
Abstract We study how the level of government debt affects the effectiveness of monetary policy, that is, the elasticity of economic aggregates to interest rate changes. We build a New Keynesian model where fiscal policy is non‐Ricardian and government debt is risk‐free.
NICOLAS CARAMP, ETHAN FEILICH
wiley   +1 more source

Reversing coma by senolytics and stem cells: the future is now

Journal of Translational Medicine
Global cerebral ischemia (GCI) caused by impaired blood flow to the brain—typically following cardiac arrest or traumatic brain injury—remains the leading cause of coma and disorders of consciousness (DoC).
Thomas E. Ichim, Roman A. Ramos, Armin Rath, Joel Castellano, Nassir Azimi, James D. Veltmeyer, Michael Koumjian, Nicole E. Ma, Anil Bajnath, Emma Lin, Gloria E. Ichim, Erik J. Woods, Jennifer Jothen, Boris N. Reznik   +13 more
doaj   +1 more source

Monetary Policy When Preferences Are Quasi‐Hyperbolic

Journal of Money, Credit and Banking, EarlyView.
Abstract We study discretionary monetary policy in an economy where economic agents have quasi‐hyperbolic discounting. We demonstrate that a benevolent central bank is able to keep inflation under control for a wide range of discount factors. If the central bank, however, does not adopt the household's time preferences and tries to discourage early ...
RICHARD DENNIS, OLEG KIRSANOV
wiley   +1 more source

Rising indebtedness and hyperbolic discounting: a welfare analysis [PDF]

Is the observed rapid increase in consumer debt over the last three decades good news for consumers? This paper quantitatively studies macroeconomic and welfare implications of relaxing borrowing constraints when consumers exhibit a hyperbolic ...
Makoto Nakajima
core  

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

Measuring time preferences [PDF]

, 2019
We review research that measures time preferences—i.e., preferences over intertemporal tradeoffs. We distinguish between studies using financial flows, which we call “money earlier or later” (MEL) decisions and studies that use time-dated consumption ...
Cohen, Jonathan D., Ericson, Keith, Laibson, David, White, John Miles   +3 more
core  

The Monetary Policy–Commodities Nexus: A Survey

Journal of Economic Surveys, EarlyView.
ABSTRACT This survey synthesizes evidence on the bidirectional links between commodity markets and monetary policy. On the commodities‐to‐policy side, we review how shocks to energy, food, and metals pass through to inflation, inflation expectations, economic activity, and financial stability in state‐dependent ways that vary by shock type, exposure ...
Martin T. Bohl, Niklas Humann, Pierre L. Siklos   +2 more
wiley   +1 more source

Hyperbolical Discounting and Endogenous Growth [PDF]

, 2014
This paper provides the exact analytical solution for the standard model of endogenous growth when consumers have present-biased preferences and make time-inconsistent savings plans, which they revise continuously. It is shown that long-run growth is not
Strulik, Holger
core  

What Are Asset Price Bubbles? A Survey on Definitions of Financial Bubbles

Journal of Economic Surveys, EarlyView.
ABSTRACT Financial bubbles and crashes have repeatedly caused economic turmoil notably but not just during the 2008 financial crisis. However, both in the popular press as well as scientific publications, the meaning of bubble is sometimes unspecified.
Michael Heinrich Baumann, Anja Janischewski   +1 more
wiley   +1 more source

Monetary Policy and Wealth Effects: The Role of Risk and Heterogeneity

The Journal of Finance, EarlyView.
ABSTRACT We study the role of asset revaluation in the monetary transmission mechanism. We build an analytical heterogeneous‐agents model with two main ingredients: (i) rare disasters and (ii) heterogeneous beliefs. The model captures time‐varying risk premia and precautionary savings in a setting that nests the textbook New Keynesian model.
NICOLAS CARAMP, DEJANIR H. SILVA
wiley   +1 more source