Results 61 to 70 of about 75,667 (213)
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 +2 more
wiley +1 more source
New Classical and New Keynesian models of business cycles [PDF]
A presentation of simple, but complete, New Classical and New Keynesian models of the economy and business cycles that illustrate the central force behind fluctuations in each.
Eric Kades
core
Monetary and Macroprudential Policies under Dollar‐Denominated Foreign Debt
Journal of Money, Credit and Banking, EarlyView.Abstract This paper studies monetary and macroprudential policies in a small open economy that borrows from abroad in foreign currency. The model features a novel mechanism in which exchange rate depreciation triggered by a borrowing constraint is amplified through balance of payments adjustments, increasing the real burden of foreign debt and causing ...
HIDEHIKO MATSUMOTO
wiley +1 more source
Schumpeter Meeting Keynes: A Policy-Friendly Model of Endogenous Growth and Business Cycles [PDF]
This paper studies an agent-based model that bridges Keynesian theories of demand generation and Schumpeterian theories of technology-fueled economic growth.
Andrea Roventini +2 more
core +3 more sources
Keynesian Theory and the AD-AS Framework: A Reconsideration [PDF]
Contrary to what has been argued by a number of critics, the AD-AS framework is both internally consistent and in conformity with Keynes’s own analysis.
Amitava K. Dutt, Peter Skott
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Understanding UK Productivity Using a Macroeconomic Lens
Journal of Economic Surveys, EarlyView.ABSTRACT We survey UK labor productivity over the long run, comparing it with other advanced economies, and focus on the sharp slowdown since the global financial crisis. Using a growth accounting framework, we highlight the primary role of total factor productivity (TFP), while noting that the contribution of capital shallowing is influenced by ...
Jagjit S. Chadha, Issam Samiri
wiley +1 more source
Comparing alternative Phillips curve specifications: European results with survey-based expectations [PDF]
This paper examines inflation dynamics in Europe. Econometric specification tests with pooled European data are used to compare the empirical performance of the New Classical, New Keynesian and Hybrid specifications of the Phillips curve.
Paloviita , Maritta
core
Journal of Regional Science, EarlyView.ABSTRACT Recent geopolitical conflicts in Europe and the Middle East, coupled with a geopoliticization of trade, triggered the transition toward a new trade policy, moving away from managing interdependencies to managing dependency through economic security principles, embracing Open Strategic Autonomy.
Roberta Capello +2 more
wiley +1 more source
On the Contribution of New Keynesian Economics [PDF]
In this paper we consider whether New Keynesian economics provides a meaningful framework for the analysis of the coordination problem in economic society.
Hans van Ees, Harry Garretsen
core