CE Walsh - American Economic Review, 2003 - pubs.aeaweb.org
Recent work on the design of monetary policy reflects a general consensus on the appropriate objectives of monetary policy. As articulated by Lars EO Svensson (1999a, p …
E Nelson - Journal of Monetary Economics, 2003 - Elsevier
This paper considers the role of monetary aggregates in modern macroeconomic models of the New Keynesian type. The focus is on future model developments that are suggested by …
P Surico - Journal of Economic Dynamics and Control, 2007 - Elsevier
This paper investigates the empirical relevance of a new framework for monetary policy analysis in which the decision makers are allowed, but not required, to weight differently …
M Nessén, D Vestin - Journal of Money, credit and Banking, 2005 - JSTOR
The analysis of this paper demonstrates that when the Phillips curve has forward-looking components, a goal for average inflation-ie, targeting a j-period average of one-period …
E Görgens, K Ruckriegel, F Seitz - 2008 - books.google.com
Das erfolgreiche Lehrbuch, das sich auch als Nachschlagewerk für die Praxis bewährt hat, liegt nun in 5. Auflage vor. Es wurde ua durch eine Diskussion der institutionellen …
P Surico - Scandinavian Journal of Economics, 2007 - Wiley Online Library
The first six years of ECB monetary policy are examined using a general framework that allows central bankers to weight differently positive and negative deviations of inflation …
A Beyer, V Gaspar, C Gerberding… - Germany Monetary Policy …, 2009 - degruyter.com
In the second half of the twentieth century, the German Bundesbank established its reputation as one of the most successful central banks in the world. Along with the Swiss …
We quantify the welfare differential between precommitment and discretionary monetary policy in three estimated models of the US economy by calculating the permanent deviation …
We present and test a model of the Eurozone, with a special emphasis on the role of risk aversion and money. The model follows the New Keynesian DSGE framework, money being …