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Monetary Policy with Judgment [PDF]
SSRN Electronic Journal, 2020 We consider two approaches to incorporate judgment into DSGE models. First, Bayesian estimation indirectly imposes judgment via priors on model parameters, which are then mapped into a judgmental interest rate decision. Standard priors are shown to be associated with highly unrealistic judgmental decisions.
Paolo Gelain, Simone Manganelli
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Forward-looking component in consumers’expectations and inflation forecast targeting: the case of six European economies [PDF]
Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu, 2019 Since there are different ways of revealing central banks’ intentions, a simple research question, which we address in this study, arises. Is the forward-looking (FL) component of consumers’ expectations related to the way in which the forecast is ...
Magdalena Szyszko , Aleksandra Rutkowska
doaj +1 more source
Monetary and Macroprudential Policies [PDF]
SSRN Electronic Journal, 2011 We use a dynamic general equilibrium model featuring a banking sector to assess the interaction between a countercyclical macroprudential policy and monetary policy. We find that in “normal” times (when the economic cycle is mainly driven by supply shocks) macroprudential policy generates only modest benefits relative to a “monetary policy-only” world.
Angelini, Paolo +2 more
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Is Monetary Policy Overburdened? [PDF]
SSRN Electronic Journal, 2013 Following the experience of the global financial crisis, central banks have been asked to undertake unprecedented responsibilities. Governments and the public appear to have high expectations that monetary policy can provide solutions to problems that do not necessarily fit in the realm of traditional monetary policy.
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Econometrics, 2021 We assess the forecasting performance of the nowcasting model developed at the New York FED. We show that the observation regarding a striking difference in the model’s predictive ability across business cycle phases made earlier in the literature also ...
Boriss Siliverstovs
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How Inflation is a Policy Nowadays
Transylvanian Review of Administrative Sciences, 2023 After World War II, democracies witnessed transformations that were and are much more lenient vis-à-vis the rise in inflation. The main institutional changes that have occurred gradually ever since and can combine nowadays to fuel inflation refer to (i ...
Lucian Croitoru
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A note on the impact of news on US household inflation expectations [PDF]
Macroeconomic Dynamics, Volume 24, Issue 4 June 2020, pp. 995 to
1015, 2020 Monthly disaggregated US data from 1978 to 2016 reveals that exposure to news on inflation and monetary policy helps to explain inflation expectations. This remains true when controlling for household personal characteristics, perceptions of government policy effectiveness, future interest rates and unemployment expectations, and sentiment.
arxiv +1 more source
Modeling Monetary Policy [PDF]
SSRN Electronic Journal, 2009 Models currently used for monetary policy analysis equate the monetary policy interest rate instrument to the consumption Euler rate which is related to expected consumption growth and inflation, i.e. the two variables monetary policy is designed to control.
Andreas Schabert +2 more
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Measuring Monetary Policy [PDF]
The Quarterly Journal of Economics, 1995 Abstract: Extending the approach of Bernanke and Blinder (1992), Strongin (1992), and Christiano, Eichenbaum, and Evans (1994a, 1994b), we develop and apply a VAR-based methodology for measuring the stance of monetary policy. More specifically, we develop a "semi-structural" VAR approach, which extracts information about monetary policy from data on ...
Bernanke, Ben S., Mihov, Ilian
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Cost‐effectiveness of second‐line therapies in adults with chronic immune thrombocytopenia
American Journal of Hematology, Volume 98, Issue 1, Page 122-130, January 2023., 2023 Abstract Major options for second‐line therapy in adults with chronic immune thrombocytopenia (ITP) include splenectomy, rituximab, and thrombopoietin receptor agonists (TRAs). The American Society of Hematology guidelines recommend rituximab over splenectomy, TRAs over rituximab, and splenectomy or TRAs while noting a lack of evidence on the cost ...
George Goshua +5 more
wiley +1 more source