Optimal Monetary Policy Under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach [PDF]
We study the design of optimal monetary policy under uncertainty in a dynamic stochastic general equilibrium model. We use a Markov jump-linear-quadratic (MJLQ) approach to study policy design, proxying the uncertainty by different discrete modes in a ...
Lars E.O. Svensson, Noah Williams
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Re-examining the role of financial constraints in business cycles: Is something wrong with the credit multiplier? [PDF]
, 2013 Motivated by the apparent failure of the credit multiplier mechanism (CM) to deliver amplification in DSGE models, we re-examine its role in business cycles to address the question: is something wrong with the CM? Our answer is no.
Olivella, Virginia +1 more
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Política Monetária e Preço dos Imóveis no Brasil: Uma Análise a partir de um Modelo DSGE
Revista Brasileira de Economia, 2018 Este artigo avalia se o comportamento recente do Banco Central do Brasil sugere que a politica monetaria tem reagido a mudancas nos precos das habitacoes. Para responder a esta questao, utilizam-se duas estrategias. Num primeiro momento, sao estimadas funcoes de reacao utilizando metodos de equacoes simples por meio de Minimos Quadrados Ordinarios e ...
Silva, Marcelo Eduardo Alves da +1 more
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Choques macroeconômicos e a probabilidade de permanecer empregado ou desempregado [PDF]
, 2015 This exercise contributes to the literature that relates macroeconomic cycle with the labor market, estimating an Favar model to Brazil with four variables - degree of utilization, inflation rate, Selic rate and real exchange rate - and a latent variable
Cavalcanti, Marco Antônio Freitas de Hollanda +1 more
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NEW KEYNESIAN MODELS FOR CHILE DURING THE INFLATION TARGETING REGIME: A STRUCTURAL APPROACH [PDF]
Knowing the frictions that are present in the economy is a key step towards the efficient design of policy actions. In particular, price and wage rigidities determine the degree of tradeoff between output and inflation stabilization that central banks ...
Felipe Liendo +2 more
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An Estimated Stochastic General Equilibrium Model with Partial Dollarization: A Bayesian Approach [PDF]
This paper develops and estimates a dynamic stochastic general equilibrium New Keynesian model of a small open economy with partial dollarization. We use Bayesian techniques and Peruvian data to evaluate two forms of dollarization: currency substitution (
Carlos Montoro +2 more
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Efectos de ciclos de precios de metales: estimación de un modelo de equilibrio general con time to build para la economía peruana, 2001-2015 [PDF]
, 2016 En el presente documento se estudia el desempeño que ha tenido Perú durante la última fase expansiva del ciclo de precios de commodities, específicamente entre los años 2001 y 2015.
Contreras Mellado, Álvaro Andrés +1 more
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Efectividad de la política monetaria en algunas economías latinoamericanas [PDF]
El objetivo de este artículo es realizar estimaciones de un modelo keynesiano simple de equilibrio general Monacelli (2003) para caracterizar la efectividad y los mecanismos de transmisión de la política monetaria en países latinoamericanos.
Carlos Garcia, Wildo Gonzalez
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Um modelo DSGE para análise de desigualdade de renda
Tese (doutorado)—Universidade de Brasília, Departamento de Economia, Brasília, 2017. ; Esta tese de doutorado apresentada à Universidade de Brasília consiste na construção de um modelo Dinâmico de Equilíbrio Geral e Estocástico (DSGE) para analisar os efeitos da desigualdade de renda na economia brasileira.
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Non-Ricardian Aspects of Fiscal Policy in Chile [PDF]
This paper examines non-Ricardian effects of government spending shocks in the Chilean economy. We first provide evidence on those effects based on vector autoregressions. We then show that such evidence can be accounted for by a model that features: (i)
Jordi Galí +2 more
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