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Michael T Kiley

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Kiley, Michael T., 2013. "Output gaps," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 1-18.

    Mentioned in:

    1. Yellen: The Economic Outlook and Monetary Policy
      by Barry Ritholtz in The Big Picture on 2015-12-07 16:00:34
  2. Michael T. Kiley, 2015. "What Can the Data Tell Us About the Equilibrium Real Interest Rate?," Finance and Economics Discussion Series 2015-77, Board of Governors of the Federal Reserve System (U.S.).

    Mentioned in:

    1. Will interest rates persistently fall below previous norms?
      by thebusinesscycleblog in The business cycle blog on 2016-02-15 01:29:28
    2. Persistently low interest rates, redux
      by thebusinesscycleblog in The business cycle blog on 2016-03-19 20:37:04
  3. Michael T. Kiley, 2018. "Quantitative Easing and the “New Normal” in Monetary Policy," Finance and Economics Discussion Series 2018-004, Board of Governors of the Federal Reserve System (U.S.).

    Mentioned in:

    1. Fourth large-scale asset purchases program: A new hope
      by ? in FRED blog on 2020-03-23 13:00:00
    2. Risks of low for longer
      by thebusinesscycleblog in The business cycle blog on 2019-10-19 20:54:33
  4. Aikman, David & Kiley, Michael & Lee, Seung Jung & Palumbo, Michael G. & Warusawitharana, Missaka, 2017. "Mapping heat in the U.S. financial system," Journal of Banking & Finance, Elsevier, vol. 81(C), pages 36-64.

    Mentioned in:

    1. My research on “heat” in the U.S. financial system has appeared in print
      by thebusinesscycleblog in The business cycle blog on 2017-09-27 03:43:54
  5. Michael T. Kiley, 2018. "Quantitative Easing and the ‘New Normal’ in Monetary Policy," Manchester School, University of Manchester, vol. 86(S1), pages 21-49, September.

    Mentioned in:

    1. Fourth large-scale asset purchases program: A new hope
      by ? in FRED blog on 2020-03-23 13:00:00
    2. Risks of low for longer
      by thebusinesscycleblog in The business cycle blog on 2019-10-19 20:54:33
  6. Kiley, Michael T., 2015. "An evaluation of the inflationary pressure associated with short- and long-term unemployment," Economics Letters, Elsevier, vol. 137(C), pages 5-9.

    Mentioned in:

    1. The Phillips Curve and Inflation
      by thebusinesscycleblog in The business cycle blog on 2016-05-21 23:08:29
  7. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Finance and Economics Discussion Series 2017-080, Board of Governors of the Federal Reserve System (U.S.).

    Mentioned in:

    1. My analysis of low rates and monetary policy–link to Ben Bernanke comments and FEDS version
      by thebusinesscycleblog in The business cycle blog on 2017-08-19 20:26:04
    2. Risks of low for longer
      by thebusinesscycleblog in The business cycle blog on 2019-10-19 20:54:33
    3. Navigating in Cloudy Skies
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2018-12-10 12:14:25
    4. The Fed's Crystal Ball: Looking Beyond the COVID-19 Recession
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2020-06-15 11:14:52
  8. Michael T. Kiley, 2014. "The Aggregate Demand Effects of Short- and Long-Term Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 10(4), pages 69-104, December.

    Mentioned in:

    1. The Federal Reserve’s Monetary Policy Toolkit: Past, Present, and Future
      by ? in The Big Picture on 2016-08-29 14:00:00
    2. How effective is quantitative easing in stimulating economic activity and raising inflation?
      by thebusinesscycleblog in The business cycle blog on 2016-05-10 03:24:10
    3. The Federal Reserve: Looking Back, Looking Forward
      by Guest Author in The Big Picture on 2014-01-04 16:00:00
  9. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2009. "A comparision of forecast, simple reduced-form models, and a DSGE model," CAMA Working Papers 2009-03, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.

    Mentioned in:

    1. Forecasting with DSGE models
      by Economic Logician in Economic Logic on 2009-07-28 19:23:00
  10. Michael T. Kiley & Jae W. Sim, 2015. "Optimal Monetary and Macroprudential Policies: Gains and Pitfalls in a Model of Financial Intermediation," Finance and Economics Discussion Series 2015-78, Board of Governors of the Federal Reserve System (U.S.).

    Mentioned in:

    1. Macroeconomic Modeling of Financial Frictions for Macroprudential Policymaking: A Review of Pressing Challenges
      by thebusinesscycleblog in The business cycle blog on 2016-06-05 23:18:07
  11. Ben S. Bernanke & Michael T. Kiley & John M. Roberts, 2019. "Monetary Policy Strategies for a Low-Rate Environment," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 421-426, May.

    Mentioned in:

    1. Risks of low for longer
      by thebusinesscycleblog in The business cycle blog on 2019-10-19 20:54:33
  12. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 317-396.

    Mentioned in:

    1. My analysis of low rates and monetary policy–link to Ben Bernanke comments and FEDS version
      by thebusinesscycleblog in The business cycle blog on 2017-08-19 20:26:04
    2. Risks of low for longer
      by thebusinesscycleblog in The business cycle blog on 2019-10-19 20:54:33
    3. Navigating in Cloudy Skies
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2018-12-10 12:14:25
    4. The Fed's Crystal Ball: Looking Beyond the COVID-19 Recession
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2020-06-15 11:14:52
  13. Michael T. Kiley, 2012. "The aggregate demand effects of short- and long-term interest rates," Finance and Economics Discussion Series 2012-54, Board of Governors of the Federal Reserve System (U.S.).

    Mentioned in:

    1. The Federal Reserve’s Monetary Policy Toolkit: Past, Present, and Future
      by ? in The Big Picture on 2016-08-29 14:00:00
    2. How effective is quantitative easing in stimulating economic activity and raising inflation?
      by thebusinesscycleblog in The business cycle blog on 2016-05-10 03:24:10
    3. The Federal Reserve: Looking Back, Looking Forward
      by Guest Author in The Big Picture on 2014-01-04 16:00:00
  14. Michael T. Kiley, 2014. "The Response of Equity Prices to Movements in Long‐Term Interest Rates Associated with Monetary Policy Statements: Before and After the Zero Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(5), pages 1057-1071, August.

    Mentioned in:

    1. How effective is quantitative easing in stimulating economic activity and raising inflation?
      by thebusinesscycleblog in The business cycle blog on 2016-05-10 03:24:10
    2. The Federal Reserve: Looking Back, Looking Forward
      by Guest Author in The Big Picture on 2014-01-04 16:00:00
  15. Hess Chung & Edward Herbst & Michael T. Kiley, 2015. "Effective Monetary Policy Strategies in New Keynesian Models: A Reexamination," NBER Macroeconomics Annual, University of Chicago Press, vol. 29(1), pages 289-344.

    Mentioned in:

    1. The Phillips Curve and Inflation
      by thebusinesscycleblog in The business cycle blog on 2016-05-21 23:08:29
  16. Michael T. Kiley, 2018. "What Macroeconomic Conditions Lead Financial Crises?," Finance and Economics Discussion Series 2018-038, Board of Governors of the Federal Reserve System (U.S.).

    Mentioned in:

    1. Debt, Asset Prices, and Financial Crises
      by thebusinesscycleblog in The business cycle blog on 2018-06-20 18:36:52

    Mentioned in:

    1. YELLEN: Monetary Policy Shouldn't Change Because People Are Worried About Financial Stability
      by Rob Wile in Business Insider on 2014-07-02 20:00:00
    2. Chair Janet L. Yellen: Monetary Policy and Financial Stability
      by Guest Author in The Big Picture on 2014-07-03 14:00:18
  17. Michael T. Kiley, 2013. "The response of equity prices to movements in long-term interest rates associated with monetary policy statements: before and after the zero lower bound," Finance and Economics Discussion Series 2013-15, Board of Governors of the Federal Reserve System (U.S.).

    Mentioned in:

    1. How effective is quantitative easing in stimulating economic activity and raising inflation?
      by thebusinesscycleblog in The business cycle blog on 2016-05-10 03:24:10
    2. The Federal Reserve: Looking Back, Looking Forward
      by Guest Author in The Big Picture on 2014-01-04 16:00:00
  18. Michael Kiley, 2016. "Policy Paradoxes in the New-Keynesian Model," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 1-15, July.

    Mentioned in:

    1. How effective are fiscal and monetary policy at low interest rates?
      by thebusinesscycleblog in The business cycle blog on 2016-04-09 17:32:19
    2. The Phillips Curve and Inflation
      by thebusinesscycleblog in The business cycle blog on 2016-05-21 23:08:29

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2010. "A comparison of forecast performance between Federal Reserve staff forecasts, simple reduced-form models, and a DSGE model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(4), pages 720-754.

    Mentioned in:

    1. A comparison of forecast performance between federal reserve staff forecasts, simple reduced-form models, and a DSGE model (Journal of Applied Econometrics 2010) in ReplicationWiki ()

Working papers

  1. Michael T. Kiley, 2023. "The Role of Wages in Trend Inflation: Back to the 1980s?," Finance and Economics Discussion Series 2023-022, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Richard Audoly & Martín Almuzara & Davide Melcangi, 2023. "A Measure of Trend Wage Inflation," Staff Reports 1067, Federal Reserve Bank of New York.

  2. Michael T. Kiley, 2021. "Growth at Risk From Climate Change," Finance and Economics Discussion Series 2021-054, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. René Augusto Marín-Leyva & América I. Zamora-Torres & Carlos Francisco Ortiz-Paniagua, 2022. "Economía, energía y calidad ambiental en APEC, 1990-2018," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 17(4), pages 1-19, Octubre -.

  3. Michael T. Kiley, 2020. "Pandemic Recession Dynamics: The Role of Monetary Policy in Shifting a U-Shaped Recession to a V-Shaped Rebound," Finance and Economics Discussion Series 2020-083, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Tatiana Damjanovic & Vladislav Damjanovic & Charles Nolan, 2017. "Unconditionally Optimal Ramsey policy," CEMAP Working Papers 2017_01, Durham University Business School.
    2. Acurio Vásconez, Verónica & Damette, Olivier & Shanafelt, David W., 2023. "Macroepidemics and unconventional monetary policy," Economic Modelling, Elsevier, vol. 126(C).
    3. Galindo Gil, Hamilton, 2021. "What kind of firm is more responsive to the unconventional monetary policy?," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 188-200.
    4. Jelena Nikolajenko & Rasa Viederytė & Agnė Šneiderienė & Ignas Aničas, 2021. "Components for Measuring the Efficiency of the Intervention Measures to Support Business, Initiated and Implemented by the Government of Lithuania during the First Lockdown," Sustainability, MDPI, vol. 13(3), pages 1-19, January.

  4. Michael T. Kiley, 2020. "Financial Conditions and Economic Activity: Insights from Machine Learning," Finance and Economics Discussion Series 2020-095, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Ibarra-Ramírez Raúl, 2021. "The Yield Curve as a Predictor of Economic Activity in Mexico: The Role of the Term Premium," Working Papers 2021-07, Banco de México.

  5. Michael T. Kiley, 2020. "Monetary Policy Space in a Recession: Some Simple Interest Rate Arithmetic," FEDS Notes 2020-01-08-2, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Michael T. Kiley, 2020. "Pandemic Recession Dynamics: The Role of Monetary Policy in Shifting a U-Shaped Recession to a V-Shaped Rebound," Finance and Economics Discussion Series 2020-083, Board of Governors of the Federal Reserve System (U.S.).

  6. Ben S. Bernanke & Michael T. Kiley & John M. Roberts, 2019. "Monetary Policy Strategies for a Low-Rate Environment," Finance and Economics Discussion Series 2019-009, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Hasan Engin Duran & Pawe³ Gajewski, 2023. "State-level Taylor rule and monetary policy stress," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 18(1), pages 89-120, March.
    2. Andrade Philippe, & Galí Jordi, & Le Bihan Hervé, & Matheron Julien., 2021. "Should the ECB Adjust its Strategy in the Face of a Lower r*?," Working papers 811, Banque de France.
    3. Coenen, Günter & Montes-Galdón, Carlos & Schmidt, Sebastian, 2021. "Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment," CFS Working Paper Series 656, Center for Financial Studies (CFS).
    4. Galí, Jordi & Andrade, Philippe & Le Bihan, Hervé & Matheron, Julien, 2018. "The Optimal Inflation Target and the Natural Rate of Interest," CEPR Discussion Papers 12723, C.E.P.R. Discussion Papers.
    5. Lars E.O. Svensson, 2020. "Monetary Policy Strategies for the Federal Reserve," NBER Working Papers 26657, National Bureau of Economic Research, Inc.
    6. Aldama Pierre & Gaulier Guillaume & Lemoine Matthieu & Robert Pierre-Antoine & Turunen Harri & Zhutova Anastasia, 2022. "The EA-BDF Model and Government Spending Multipliers in a Monetary Union," Working papers 883, Banque de France.
    7. Gabriele Galati & Richhild Moessner & Maarten van Rooij, 2020. "The anchoring of long-term inflation expectations of consumers: insights from a new survey," Working Papers 688, DNB.
    8. James A. Clouse, 2020. "Price Level Risk and Some Long-Run Implications of Alternative Monetary Policy Strategies," Finance and Economics Discussion Series 2020-094, Board of Governors of the Federal Reserve System (U.S.).
    9. Francesco Bianchi & Leonardo Melosi & Matthias Rottner, 2019. "Hitting the Elusive Inflation Target," Working Paper Series WP-2019-7, Federal Reserve Bank of Chicago.
    10. Feld, Lars P. & Wieland, Volker, 2020. "The German Federal Constitutional Court ruling and the European Central Bank's strategy," Freiburg Discussion Papers on Constitutional Economics 20/5, Walter Eucken Institut e.V..
    11. Stefania D'Amico & Thomas B. King, 2015. "What Does Anticipated Monetary Policy Do?," Working Paper Series WP-2015-10, Federal Reserve Bank of Chicago.
    12. Spencer D. Krane & Leonardo Melosi & Matthias Rottner, 2023. "Learning Monetary Policy Strategies at the Effective Lower Bound with Sudden Surprises," Working Paper Series WP 2023-22, Federal Reserve Bank of Chicago.
    13. Thomas M. Mertens & John C. Williams, 2019. "Tying Down the Anchor: Monetary Policy Rules and the Lower Bound on Interest Rates," Working Paper Series 2019-14, Federal Reserve Bank of San Francisco.
    14. Mota, Paulo R. & Fernandes, Abel L.C., 2022. "Is the ECB already following albeit implicitly an average inflation targeting strategy?," Research in Economics, Elsevier, vol. 76(3), pages 149-162.
    15. Davide Debortoli & Jordi Galí & Luca Gambetti, 2018. "On the Empirical (Ir)Relevance of the Zero Lower Bound Constraint," Working Papers 1013, Barcelona School of Economics.
    16. Isabel Cairó & Jae W. Sim, 2020. "Monetary Policy and Financial Stability," Finance and Economics Discussion Series 2020-101, Board of Governors of the Federal Reserve System (U.S.).
    17. Elfsbacka Schmöller, Michaela & Spitzer, Martin, 2022. "Lower for longer under endogenous technology growth," Bank of Finland Research Discussion Papers 6/2022, Bank of Finland.
    18. Porcellacchia, Davide, 2020. "The tipping point: interest rates and financial stability," Working Paper Series 2447, European Central Bank.
    19. Günter Coenen & Carlos Montes‐Galdón & Frank Smets, 2023. "Effects of State‐Dependent Forward Guidance, Large‐Scale Asset Purchases, and Fiscal Stimulus in a Low‐Interest‐Rate Environment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 825-858, June.
    20. Christina Anderl & Guglielmo Maria Caporale, 2023. "Shadow rates as a measure of the monetary policy stance: Some international evidence," Scottish Journal of Political Economy, Scottish Economic Society, vol. 70(5), pages 399-422, November.
    21. Robert Amano & Stefano Gnocchi & Sylvain Leduc & Joel Wagner, 2020. "Average Is Good Enough: Average-Inflation Targeting and the ELB," Working Paper Series 2020-21, Federal Reserve Bank of San Francisco.
    22. Matthieu Lemoine & Harri Turunen & Mohammed Chahad & Antoine Lepetit & Anastasia Zhutova & Pierre Aldama & Pierrick Clerc & Jean-Pierre Laffargue, 2019. "The FR-BDF Model and an Assessment of Monetary Policy Transmission in France," Working papers 736, Banque de France.
    23. Adrian Penalver & Daniele Siena, 2021. "The Deflationary Bias of the ZLB and the FED’s Strategic Response," Working papers 843, Banque de France.
    24. James Hebden & Fabian Winkler, 2021. "Impulse-Based Computation of Policy Counterfactuals," Finance and Economics Discussion Series 2021-042, Board of Governors of the Federal Reserve System (U.S.).
    25. John B. Taylor, 2021. "Simple monetary rules: many strengths and few weaknesses," European Journal of Law and Economics, Springer, vol. 52(2), pages 267-283, December.
    26. Billi, Roberto & Galí, Jordi & Nakov, Anton, 2024. "Optimal Monetary Policy with r," Working Paper Series 433, Sveriges Riksbank (Central Bank of Sweden).
    27. Martina Cecioni & Adriana Grasso & Alessandro Notarpietro & Massimiliano Pisani, 2021. "Revisiting monetary policy objectives and strategies: international experience and challenges from the ELB," Questioni di Economia e Finanza (Occasional Papers) 660, Bank of Italy, Economic Research and International Relations Area.
    28. Adjemian, Stéphane & Bokan, Nikola & Darracq Pariès, Matthieu & Müller, Georg & Zimic, Srečko, 2024. "ECB-(RE)BASE: Heterogeneity in expectation formation and macroeconomic dynamics," Working Paper Series 2965, European Central Bank.
    29. Jerome H. Powell, 2019. "Monetary Policy: Normalization and the Road Ahead : a speech at the 2019 SIEPR Economic Summit, Stanford Institute of Economic Policy Research, Stanford, California, March 8, 2019," Speech 1044, Board of Governors of the Federal Reserve System (U.S.).
    30. Ben S. Bernanke, 2019. "Comment on "On the Empirical (Ir)relevance of the Zero Lower Bound Constraint"," NBER Chapters, in: NBER Macroeconomics Annual 2019, volume 34, pages 171-181, National Bureau of Economic Research, Inc.
    31. Mazelis, Falk & Motto, Roberto & Ristiniemi, Annukka, 2023. "Monetary policy strategies for the euro area: optimal rules in the presence of the ELB," Working Paper Series 2797, European Central Bank.
    32. Erceg, Christopher J. & Jakab, Zoltan & Lindé, Jesper, 2021. "Monetary policy strategies for the European Central Bank," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
    33. Sudiksha Joshi, 2020. "Reforming the State-Based Forward Guidance through Wage Growth Rate Threshold: Evidence from FRB/US Simulations," Papers 2008.08705, arXiv.org.
    34. Stéphane Dupraz & Hervé Le Bihan & Julien Matheron, 2022. "Make-up Strategies with Finite Planning Horizons but Forward-Looking Asset Prices," Working papers 862, Banque de France.
    35. Takuji Kawamoto & Jouchi Nakajima & Tomoaki Mikami, 2021. "Supplementary Paper Series for the "Assessment" (3): Inflation-Overshooting Commitment:An Analysis Using a Macroeconomic Model," Bank of Japan Working Paper Series 21-E-9, Bank of Japan.
    36. Richard H. Clarida, 2024. "Perspectives on U.S. Monetary Policy and the Return to Price Stability," International Journal of Central Banking, International Journal of Central Banking, vol. 20(2), pages 1-16, April.
    37. Jonathan Goldberg & Elizabeth C. Klee & Edward Simpson Prescott & Paul R. Wood, 2020. "Monetary Policy Strategies and Tools: Financial Stability Considerations," Finance and Economics Discussion Series 2020-074, Board of Governors of the Federal Reserve System (U.S.).
    38. Lael Brainard, 2019. "Navigating Cautiously : a speech at the Julis-Rabinowitz Center for Public Policy and Finance and the Bendheim Center for Finance, Woodrow Wilson School of Public and International Affairs, Princeton ," Speech 1043, Board of Governors of the Federal Reserve System (U.S.).
    39. Carl E. Walsh, 2019. "Alternatives to Inflation Targeting in Low Interest Rate Environments," IMES Discussion Paper Series 19-E-13, Institute for Monetary and Economic Studies, Bank of Japan.
    40. Kurozumi, Takushi & Van Zandweghe, Willem, 2024. "Output-inflation trade-offs and the optimal inflation rate," Journal of Economic Dynamics and Control, Elsevier, vol. 164(C).
    41. Olga Kuznetsova & Sergey Merzlyakov & Sergey Pekarski, 2019. "Confidence in future monetary policy as a way to overcome the liquidity trap," Russian Journal of Economics, ARPHA Platform, vol. 5(2), pages 117-135, July.
    42. Budianto, Flora & Nakata, Taisuke & Schmidt, Sebastian, 2023. "Average inflation targeting and the interest rate lower bound," European Economic Review, Elsevier, vol. 152(C).
    43. Busetti, Fabio & Neri, Stefano & Notarpietro, Alessandro & Pisani, Massimiliano, 2021. "Monetary policy strategies in the New Normal: A model-based analysis for the euro area," Journal of Macroeconomics, Elsevier, vol. 70(C).
    44. Jonas E. Arias & Martin Bodenstein & Hess T. Chung & Thorsten Drautzburg & Andrea Raffo, 2020. "Alternative Strategies: How Do They Work? How Might They Help?," Finance and Economics Discussion Series 2020-068, Board of Governors of the Federal Reserve System (U.S.).
    45. Vlieghe, Gertjan, 2022. "Demographics and other constraints on future monetary policy," The Journal of the Economics of Ageing, Elsevier, vol. 23(C).
    46. Brand, Claus & Obstbaum, Meri & Coenen, Günter & Sondermann, David & Lydon, Reamonn & Ajevskis, Viktors & Hammermann, Felix & Angino, Siria & Hernborg, Nils & Basso, Henrique & Hertweck, Matthias & Bi, 2021. "Employment and the conduct of monetary policy in the euro area," Occasional Paper Series 275, European Central Bank.
    47. Billi , Roberto M. & Walsh, Carl E., 2022. "Seemingly Irresponsible but Welfare Improving Fiscal Policy at the Lower Bound," Working Paper Series 410, Sveriges Riksbank (Central Bank of Sweden).
    48. Andrade, Philippe & Galí, Jordi & Le Bihan, Hervé & Matheron, Julien, 2021. "Should the ECB adjust its strategy in the face of a lower r★?," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
    49. Edouard Djeutem & Mario He & Abeer Reza & Yang Zhang, 2022. "Household Heterogeneity and the Performance of Monetary Policy Frameworks," Staff Working Papers 22-12, Bank of Canada.
    50. Dupraz, Stéphane & Le Bihan, Hervé & Matheron, Julien, 2024. "Make-up strategies with finite planning horizons but infinitely forward-looking asset prices," Journal of Monetary Economics, Elsevier, vol. 143(C).
    51. Efraim Benmelech & Nitzan Tzur-Ilan, 2020. "The Determinants of Fiscal and Monetary Policies During the Covid-19 Crisis," NBER Working Papers 27461, National Bureau of Economic Research, Inc.
    52. Bodenstein, Martin & Hebden, James & Winkler, Fabian, 2022. "Learning and misperception of makeup strategies," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    53. Martin Bodenstein & James Hebden & Fabian Winkler, 2019. "Learning and Misperception: Implications for Price-Level Targeting," Finance and Economics Discussion Series 2019-078, Board of Governors of the Federal Reserve System (U.S.).
    54. Haavio, Markus & Laine, Olli-Matti, 2021. "Monetary policy rules and the effective lower bound in the Euro area," Bank of Finland Research Discussion Papers 5/2021, Bank of Finland.
    55. Matthieu Lemoine & Harri Turunen & Mohammed Chahad & Antoine Lepetit & Anastasia Zhutova & Pierre Aldama & Pierrick Clerc & Jean-Pierre Laffargue, 2019. "The FR-BDF Model and an Assessment of Monetary Policy Transmission in France, Working Paper Series no. 736, Banque de France," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-02400611, HAL.
    56. Richard H. Clarida, 2022. "The Federal Reserve's New Framework: Context and Consequences," Finance and Economics Discussion Series 2022-001, Board of Governors of the Federal Reserve System (U.S.).
    57. Richard H. Clarida, 2020. "The Federal Reserve's New Framework: Context and Consequences: a speech at the "The Economy and Monetary Policy" event hosted by the Hutchins Center on Fiscal and Monetary Policy at the Broo," Speech 89055, Board of Governors of the Federal Reserve System (U.S.).
    58. Christensen, Jens H.E. & Spiegel, Mark M., 2022. "Monetary reforms and inflation expectations in Japan: Evidence from inflation-indexed bonds," Journal of Econometrics, Elsevier, vol. 231(2), pages 410-431.
    59. Jerome H. Powell, 2019. "Opening Remarks : a speech at the \"Conference on Monetary Policy Strategy, Tools, and Communications Practices\" sponsored by the Federal Reserve, Federal Reserve Bank of Chicago, Chicago, ," Speech 1070, Board of Governors of the Federal Reserve System (U.S.).
    60. Pablo Aguilar & Luca Pensieroso, 2022. "Learning the Hard Way: Expectations and the U.S. Great Depression," LIDAM Discussion Papers IRES 2022004, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).

  7. Michael T. Kiley, 2019. "The Global Equilibrium Real Interest Rate: Concepts, Estimates, and Challenges," Finance and Economics Discussion Series 2019-076, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Marcin Bielecki & Aneta Błażejowska & Michał Brzoza-Brzezina & Kamila Kuziemska-Pawlak & Grzegorz Szafrański, 2023. "Estimates and projections of the natural rate of interest for Poland and the euro area," NBP Working Papers 364, Narodowy Bank Polski.
    2. Forbes,Kristin & Jongrim Ha & Ayhan Kose, 2024. "Rate Cycles," Policy Research Working Paper Series 10876, The World Bank.
    3. Brand, Claus & Goy, Gavin & Lemke, Wolfgang, 2021. "Natural rate chimera and bond pricing reality," Working Paper Series 2612, European Central Bank.
    4. Cesa-Bianchi, Ambrogio & Harrison, Richard & Sajedi, Rana, 2022. "Decomposing the drivers of Global R," Bank of England working papers 990, Bank of England.
    5. Michael T. Kiley, 2024. "Monetary Policy Strategies to Foster Price Stability and a Strong Labor Market," Finance and Economics Discussion Series 2024-033, Board of Governors of the Federal Reserve System (U.S.).
    6. Lansing, Kevin J., 2021. "Endogenous forecast switching near the zero lower bound," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 153-169.
    7. Guizhou Wang & Kjell Hausken, 2022. "A Generalized Interest Rates Model with Scaling," International Journal of Economics and Financial Issues, Econjournals, vol. 12(5), pages 143-150, September.
    8. Michael T. Kiley, 2024. "Why Have Long-term Treasury Yields Fallen Since the 1980s? Expected Short Rates and Term Premiums in (Quasi-) Real Time," Finance and Economics Discussion Series 2024-054, Board of Governors of the Federal Reserve System (U.S.).
    9. Ferreira, Thiago R.T. & Shousha, Samer, 2023. "Determinants of global neutral interest rates," Journal of International Economics, Elsevier, vol. 145(C).
    10. Goto, Eiji, 2023. "International comovement of r∗: A case study of the G7 countries," Journal of Empirical Finance, Elsevier, vol. 74(C).
    11. Michael T. Kiley, 2020. "Financial Conditions and Economic Activity: Insights from Machine Learning," Finance and Economics Discussion Series 2020-095, Board of Governors of the Federal Reserve System (U.S.).
    12. Michael T. Kiley & Frederic S. Mishkin, 2024. "Central Banking Post Crises," Finance and Economics Discussion Series 2024-035, Board of Governors of the Federal Reserve System (U.S.).
    13. Matteo Cacciatore & Bruno Feunou & Galip Kemal Ozhan, 2024. "The Neutral Interest Rate: Past, Present and Future," Discussion Papers 2024-03, Bank of Canada.
    14. Fernandez-Gallardo, Alvaro, 2023. "Preventing financial disasters: Macroprudential policy and financial crises," European Economic Review, Elsevier, vol. 151(C).
    15. Thiago Revil T. Ferreira & Samer Shousha, 2021. "Supply of Sovereign Safe Assets and Global Interest Rates," International Finance Discussion Papers 1315, Board of Governors of the Federal Reserve System (U.S.).

  8. Michael T. Kiley, 2018. "Quantitative Easing and the “New Normal” in Monetary Policy," Finance and Economics Discussion Series 2018-004, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Gerke, Rafael & Kienzler, Daniel & Scheer, Alexander, 2022. "On the macroeconomic effects of reinvestments in asset purchase programmes," Discussion Papers 47/2022, Deutsche Bundesbank.
    2. Böhl, Gregor & Goy, Gavin & Strobel, Felix, 2020. "A structural investigation of quantitative easing," IMFS Working Paper Series 142, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    3. Günter Coenen & Carlos Montes‐Galdón & Frank Smets, 2023. "Effects of State‐Dependent Forward Guidance, Large‐Scale Asset Purchases, and Fiscal Stimulus in a Low‐Interest‐Rate Environment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 825-858, June.
    4. David Zeke & Robert Kurtzman, 2017. "Misallocation Costs of Digging Deeper into the Central Bank Toolkit," 2017 Meeting Papers 1347, Society for Economic Dynamics.
    5. Anna Bartocci & Alessandro Notarpietro & Massimiliano Pisani, 2019. "Non-standard monetary policy measures in the new normal," Temi di discussione (Economic working papers) 1251, Bank of Italy, Economic Research and International Relations Area.
    6. Naoko Hara & Ryuzo Miyao & Tatsuyoshi Okimoto, 2020. "The Effects Of Asset Purchases And Normalization Of U.S. Monetary Policy," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1279-1296, July.
    7. Dimitris Malliaropulos & Petros Migiakis, 2018. "Quantitative easing and sovereign bond yields: a global perspective," Working Papers 253, Bank of Greece.

  9. Michael T. Kiley, 2018. "Unemployment Risk," Finance and Economics Discussion Series 2018-067, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Todd E. Clark & Florian Huber & Gary Koop & Massimiliano Marcellino & Michael Pfarrhofer, 2021. "Tail Forecasting with Multivariate Bayesian Additive Regression Trees," Working Papers 21-08R, Federal Reserve Bank of Cleveland, revised 12 Jul 2022.
    2. David L. Reifschneider & William L. Wascher & David W. Wilcox, 2013. "Aggregate supply in the United States: recent developments and implications for the conduct of monetary policy," Finance and Economics Discussion Series 2013-77, Board of Governors of the Federal Reserve System (U.S.).

  10. Michael T. Kiley, 2018. "What Macroeconomic Conditions Lead Financial Crises?," Finance and Economics Discussion Series 2018-038, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Pascal Paul, 2020. "Historical Patterns of Inequality and Productivity around Financial Crises," Working Paper Series 2017-23, Federal Reserve Bank of San Francisco.
    2. Michael T. Kiley, 2022. "Unemployment Risk," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(5), pages 1407-1424, August.
    3. Christopher J. Waller, 2023. "Climate Change and Financial Stability: A speech at At the IE University – Banco de España – Federal Reserve Bank of St. Louis Conference Current Challenges in Economics and Finance, Madrid, Spain May," Speech 96152, Board of Governors of the Federal Reserve System (U.S.).
    4. Galstyan, Vahagn & Herzberg, Valerie, 2018. "External Balance Sheet Risks in Ireland," Financial Stability Notes 9/FS/18, Central Bank of Ireland.
    5. Silver, Steven D. & Raseta, Marko & Bazarova, Alina, 2023. "Stochastic resonance in the recovery of signal from agent price expectations," Chaos, Solitons & Fractals, Elsevier, vol. 174(C).
    6. Maarten R.C. Van Oordt, 2023. "Calibrating the Magnitude of the Countercyclical Capital Buffer Using Market‐Based Stress Tests," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 465-501, March.
    7. Kirik, Alper & Ulusoy, Veysel, 2022. "Winds of tapering, financial gravity and COVID-19," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
    8. Michael T. Kiley, 2023. "Recession Signals and Business Cycle Dynamics: Tying the Pieces Together," Finance and Economics Discussion Series 2023-008, Board of Governors of the Federal Reserve System (U.S.).

  11. Christopher J. Erceg & James Hebden & Michael T. Kiley & J. David López-Salido & Robert J. Tetlow, 2018. "Some Implications of Uncertainty and Misperception for Monetary Policy," Finance and Economics Discussion Series 2018-059, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

  12. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Finance and Economics Discussion Series 2017-080, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Christian P Pinshi, 2022. "Ciblage des prévisions d'inflation : Un nouveau cadre pour la politique monétaire ?," Working Papers hal-03548273, HAL.
    2. Lael Brainard, 2018. "Navigating Monetary Policy as Headwinds Shift to Tailwinds : a speech at the Money Marketeers of New York University, New York, New York, March 6, 2018," Speech 993, Board of Governors of the Federal Reserve System (U.S.).
    3. Schelling, Tan & Towbin, Pascal, 2022. "What lies beneath—Negative interest rates and bank lending," Journal of Financial Intermediation, Elsevier, vol. 51(C).
    4. Andrade Philippe, & Galí Jordi, & Le Bihan Hervé, & Matheron Julien., 2021. "Should the ECB Adjust its Strategy in the Face of a Lower r*?," Working papers 811, Banque de France.
    5. Orphanides, Athanasios & Hofmann, Boris & Lombardi, Marco & Mojon, Benoit, 2021. "Fiscal and monetary policy interactions in a low interest rate world," CEPR Discussion Papers 16411, C.E.P.R. Discussion Papers.
    6. Proaño Acosta, Christian & Lojak, Benjamin, 2020. "Monetary policy with a state-dependent inflation target in a behavioral two-country monetary union model," BERG Working Paper Series 161, Bamberg University, Bamberg Economic Research Group.
    7. Richard H. Clarida, 2019. "The Federal Reserve's Review of Its Monetary Policy Strategy, Tools, and Communication Practices : a speech the 2019 U.S. Monetary Policy Forum, sponsored by the Initiative on Global Markets at the Un," Speech 1038, Board of Governors of the Federal Reserve System (U.S.).
    8. Joshua Brault & Hashmat Khan & Louis Phaneuf & Jean Gardy Victor, 2020. "Is Unconventional Monetary Policy Stabilizing? Evidence From the Great Recession and Recovery Years," Working Papers 20-15, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management.
    9. Coenen, Günter & Montes-Galdón, Carlos & Schmidt, Sebastian, 2021. "Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment," CFS Working Paper Series 656, Center for Financial Studies (CFS).
    10. Galí, Jordi & Andrade, Philippe & Le Bihan, Hervé & Matheron, Julien, 2018. "The Optimal Inflation Target and the Natural Rate of Interest," CEPR Discussion Papers 12723, C.E.P.R. Discussion Papers.
    11. Janice C. Eberly & James H. Stock & Jonathan H. Wright, 2019. "The Federal Reserve’s Current Framework for Monetary Policy: A Review and Assessment," NBER Working Papers 26002, National Bureau of Economic Research, Inc.
    12. Lars E.O. Svensson, 2020. "Monetary Policy Strategies for the Federal Reserve," NBER Working Papers 26657, National Bureau of Economic Research, Inc.
    13. James A. Clouse, 2020. "Price Level Risk and Some Long-Run Implications of Alternative Monetary Policy Strategies," Finance and Economics Discussion Series 2020-094, Board of Governors of the Federal Reserve System (U.S.).
    14. Gauti Eggertsson & Sergey K. Egiev & Alessandro Lin & Josef Platzer & Luca Riva, 2020. "A Toolkit for Solving Models with a Lower Bound on Interest Rates of Stochastic Duration," Working Papers 2020-14, Brown University, Department of Economics.
    15. Richard H. Clarida, 2019. "The Federal Reserve’s Review of Its Monetary Policy Strategy, Tools, and Communication Practices : A speech at \"New England Perspectives on Fed Policymaking: A 'Fed Listens' Conference\" ho," Speech 1063, Board of Governors of the Federal Reserve System (U.S.).
    16. Francesco Bianchi & Leonardo Melosi & Matthias Rottner, 2019. "Hitting the Elusive Inflation Target," Working Paper Series WP-2019-7, Federal Reserve Bank of Chicago.
    17. Nakata, Taisuke & Ogaki, Ryota & Schmidt, Sebastian & Yoo, Paul, 2019. "Attenuating the forward guidance puzzle: implications for optimal monetary policy," Working Paper Series 2220, European Central Bank.
    18. Michael T. Kiley, 2020. "Pandemic Recession Dynamics: The Role of Monetary Policy in Shifting a U-Shaped Recession to a V-Shaped Rebound," Finance and Economics Discussion Series 2020-083, Board of Governors of the Federal Reserve System (U.S.).
    19. Gerke, Rafael & Kienzler, Daniel & Scheer, Alexander, 2022. "On the macroeconomic effects of reinvestments in asset purchase programmes," Discussion Papers 47/2022, Deutsche Bundesbank.
    20. Eo, Yunjong & Lie, Denny, 2020. "Average inflation targeting and interest-rate smoothing," Economics Letters, Elsevier, vol. 189(C).
    21. Clayton, Christopher & Schaab, Andreas, 2022. "A Theory of Dynamic Inflation Targets," TSE Working Papers 22-1389, Toulouse School of Economics (TSE).
    22. Heinrichs, Katrin & Wagner, Helmut, 2019. "Positive trend inflation and the Phillips curve – A tale of two slopes and various impulse responses," The North American Journal of Economics and Finance, Elsevier, vol. 47(C), pages 283-307.
    23. Ernest Gnan & Claudia Kwapil & Maria Teresa Valderrama, 2018. "Monetary policy after the crisis: mandates, targets, and international linkages," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/18, pages 8-33.
    24. Javier Bianchi & Louphou Coulibaly, 2021. "Liquidity Traps, Prudential Policies, and International Spillovers," Working Papers 780, Federal Reserve Bank of Minneapolis.
    25. Corbisiero, Giuseppe, 2018. "Monetary policy regimes and the lower bound on interest rates," Economic Letters 6/EL/18, Central Bank of Ireland.
    26. Mota, Paulo R. & Fernandes, Abel L.C., 2022. "Is the ECB already following albeit implicitly an average inflation targeting strategy?," Research in Economics, Elsevier, vol. 76(3), pages 149-162.
    27. Davide Debortoli & Jordi Galí & Luca Gambetti, 2018. "On the Empirical (Ir)Relevance of the Zero Lower Bound Constraint," Working Papers 1013, Barcelona School of Economics.
    28. James Hebden & J. David López-Salido, 2018. "From Taylor's Rule to Bernanke's Temporary Price Level Targeting," Finance and Economics Discussion Series 2018-051, Board of Governors of the Federal Reserve System (U.S.).
    29. Sandra Daudignon & Oreste Tristani, 2022. "Monetary policy and the drifting natural rate of interest," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 22/1057, Ghent University, Faculty of Economics and Business Administration.
    30. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    31. Isabel Cairó & Jae W. Sim, 2020. "Monetary Policy and Financial Stability," Finance and Economics Discussion Series 2020-101, Board of Governors of the Federal Reserve System (U.S.).
    32. Gauti B. Eggertsson & Ragnar E. Juelsrud & Ella Getz Wold, 2017. "Are Negative Nominal Interest Rates Expansionary?," NBER Working Papers 24039, National Bureau of Economic Research, Inc.
    33. Porcellacchia, Davide, 2020. "The tipping point: interest rates and financial stability," Working Paper Series 2447, European Central Bank.
    34. Neri, Stefano & Gerali, Andrea, 2019. "Natural rates across the Atlantic," Journal of Macroeconomics, Elsevier, vol. 62(C).
    35. Günter Coenen & Carlos Montes‐Galdón & Frank Smets, 2023. "Effects of State‐Dependent Forward Guidance, Large‐Scale Asset Purchases, and Fiscal Stimulus in a Low‐Interest‐Rate Environment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 825-858, June.
    36. Maih, Junior & Mazelis, Falk & Motto, Roberto & Ristiniemi, Annukka, 2021. "Asymmetric monetary policy rules for the euro area and the US," Journal of Macroeconomics, Elsevier, vol. 70(C).
    37. Alessio Anzuini & Luca Rossi, 2021. "Unconventional monetary policies and expectations on economic variables," Temi di discussione (Economic working papers) 1323, Bank of Italy, Economic Research and International Relations Area.
    38. Richard H. Clarida, 2019. "Monetary Policy, Price Stability, and Equilibrium Bond Yields: Success and Consequences : a speech at the High-Level Conference on Global Risk, Uncertainty, And Volatility, co-sponsored by the Bank fo," Speech 1102, Board of Governors of the Federal Reserve System (U.S.).
    39. Robert Amano & Stefano Gnocchi & Sylvain Leduc & Joel Wagner, 2020. "Average Is Good Enough: Average-Inflation Targeting and the ELB," Working Paper Series 2020-21, Federal Reserve Bank of San Francisco.
    40. Anzuini Alessio, 2022. "The non-linear effects of the Fed asset purchases," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 26(2), pages 205-218, April.
    41. Richard H. Clarida, 2019. "Sustaining Maximum Employment and Price Stability : a speech at the Economic Club of New York, New York, New York, May 30, 2019," Speech 1067, Board of Governors of the Federal Reserve System (U.S.).
    42. Adrian Penalver & Daniele Siena, 2021. "The Deflationary Bias of the ZLB and the FED’s Strategic Response," Working papers 843, Banque de France.
    43. Schoenle, Raphael & L'Huillier, Jean-Paul, 2019. "Raising the Inflation Target: How Much Extra Room Does It Really Give?," CEPR Discussion Papers 14142, C.E.P.R. Discussion Papers.
    44. Morris, Stephen D., 2020. "Is the Taylor principle still valid when rates are low?," Journal of Macroeconomics, Elsevier, vol. 64(C).
    45. Thomas M. Mertens & John C. Williams, 2020. "What to Expect from the Lower Bound on Interest Rates: Evidence from Derivatives Prices," Working Paper Series 2018-03, Federal Reserve Bank of San Francisco.
    46. Jacopo Bonchi & Giacomo Caracciolo, 2021. "Declining natural interest rate in the US: the pension system matters," Temi di discussione (Economic working papers) 1317, Bank of Italy, Economic Research and International Relations Area.
    47. Fernando M. Duarte, 2016. "How to escape a liquidity trap with interest rate rules," Staff Reports 776, Federal Reserve Bank of New York.
    48. Marco Del Negro & Domenico Giannone & Marc P. Giannoni & Andrea Tambalotti, 2017. "Safety, Liquidity, and the Natural Rate of Interest," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 235-316.
    49. Hauptmeier, Sebastian & Kamps, Christophe & Radke, Lucas, 2022. "Counter-cyclical fiscal rules and the zero lower bound," Working Paper Series 2715, European Central Bank.
    50. Aikman, David & Bluwstein, Kristina & Karmakar, Sudipto, 2021. "A tail of three occasionally-binding constraints: a modelling approach to GDP-at-Risk," Bank of England working papers 931, Bank of England.
    51. Martina Cecioni & Adriana Grasso & Alessandro Notarpietro & Massimiliano Pisani, 2021. "Revisiting monetary policy objectives and strategies: international experience and challenges from the ELB," Questioni di Economia e Finanza (Occasional Papers) 660, Bank of Italy, Economic Research and International Relations Area.
    52. Yakov Ben‐Haim & Jan Willem Van den End, 2022. "Assessing uncertainty in the natural rate of interest: Info‐gap as guide for monetary policy in the euro area," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3228-3245, July.
    53. Adjemian, Stéphane & Bokan, Nikola & Darracq Pariès, Matthieu & Müller, Georg & Zimic, Srečko, 2024. "ECB-(RE)BASE: Heterogeneity in expectation formation and macroeconomic dynamics," Working Paper Series 2965, European Central Bank.
    54. Jean-Guillaume Sahuc & Christian Pfister, 2020. "Unconventional Monetary Policies: A Stock-Taking Exercise," EconomiX Working Papers 2020-3, University of Paris Nanterre, EconomiX.
    55. Eo, Yunjong & Kang, Kyu Ho, 2020. "The effects of conventional and unconventional monetary policy on forecasting the yield curve," Journal of Economic Dynamics and Control, Elsevier, vol. 111(C).
    56. Jerome H. Powell, 2019. "Monetary Policy: Normalization and the Road Ahead : a speech at the 2019 SIEPR Economic Summit, Stanford Institute of Economic Policy Research, Stanford, California, March 8, 2019," Speech 1044, Board of Governors of the Federal Reserve System (U.S.).
    57. Proaño, Christian R. & Lojak, Benjamin, 2020. "Animal spirits, risk premia and monetary policy at the zero lower bound," Journal of Economic Behavior & Organization, Elsevier, vol. 171(C), pages 221-233.
    58. Mazelis, Falk & Motto, Roberto & Ristiniemi, Annukka, 2023. "Monetary policy strategies for the euro area: optimal rules in the presence of the ELB," Working Paper Series 2797, European Central Bank.
    59. Sarah Drought & Roger Perry & Adam Richardson, 2018. "Aspects of implementing unconventional monetary policy in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 81, pages 1-22, May.
    60. Tomohide Mineyama & Wataru Hirata & Kenji Nishizaki, 2019. "Inflation and Social Welfare in a New Keynesian Model: The Case of Japan and the U.S," Bank of Japan Working Paper Series 19-E-10, Bank of Japan.
    61. Kurt F. Lewis & Francisco Vazquez-Grande, 2017. "Measuring the Natural Rate of Interest : A Note on Transitory Shocks," Finance and Economics Discussion Series 2017-059, Board of Governors of the Federal Reserve System (U.S.).
    62. Jacopo Bonchi & Guido Caracciolo, 2022. "Declining US Natural Interest Rate: Quantifying and Qualifying the Role of Pensions," Working Papers 506, University of Milano-Bicocca, Department of Economics, revised Dec 2022.
    63. Giuseppe Ferrero & Marco Gross & Stefano Neri, 2019. "On secular stagnation and low interest rates: Demography matters," International Finance, Wiley Blackwell, vol. 22(3), pages 262-278, December.
    64. Yunjong Eo & Denny Lie, 2019. "Changes in the inflation target and the comovement between inflation and the nominal interest rate," CAMA Working Papers 2019-30, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    65. Link, Thomas, 2019. "Optimal timing of calling in large-denomination banknotes under natural rate uncertainty," DICE Discussion Papers 327, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    66. Gauti B. Eggertsson & Ragnar E. Juelsrud & Lawrence H. Summers & Ella Getz Wold, 2019. "Negative Nominal Interest Rates and the Bank Lending Channel," NBER Working Papers 25416, National Bureau of Economic Research, Inc.
    67. Christophe Blot & Paul Hubert, 2018. "Monetary policy with transitory vs. permanently low growth," SciencePo Working papers Main hal-03404318, HAL.
    68. Stéphane Dupraz & Hervé Le Bihan & Julien Matheron, 2022. "Make-up Strategies with Finite Planning Horizons but Forward-Looking Asset Prices," Working papers 862, Banque de France.
    69. Takuji Kawamoto & Jouchi Nakajima & Tomoaki Mikami, 2021. "Supplementary Paper Series for the "Assessment" (3): Inflation-Overshooting Commitment:An Analysis Using a Macroeconomic Model," Bank of Japan Working Paper Series 21-E-9, Bank of Japan.
    70. Kang, Kyu Ho & Do, Kyeongtak, 2024. "Korea’s neutral interest rate: Estimates, determinants, and monetary policy stance," Journal of Asian Economics, Elsevier, vol. 92(C).
    71. Tatiana Kirsanova & Celsa Machado & Ana Paula Ribeiro, 2020. "Tight and Loose, and Red and Blue: A 'Dance' of Macro Policies in the US," Working Papers 2020_14, Business School - Economics, University of Glasgow.
    72. Hampl, Mojmir & Havranek, Tomas, 2018. "Central Bank Capital as an Instrument of Monetary Policy," EconStor Preprints 176828, ZBW - Leibniz Information Centre for Economics.
    73. Lael Brainard, 2019. "Navigating Cautiously : a speech at the Julis-Rabinowitz Center for Public Policy and Finance and the Bendheim Center for Finance, Woodrow Wilson School of Public and International Affairs, Princeton ," Speech 1043, Board of Governors of the Federal Reserve System (U.S.).
    74. Richard H. Clarida, 2019. "The Federal Reserve's Review of Its Monetary Policy Strategy, Tools, and Communication Practices : a speech at the \"Fed Listens: Distributional Consequences of the Cycle and Monetary Policy\&quo," Speech 1054, Board of Governors of the Federal Reserve System (U.S.).
    75. Joshua C.C. Chan & Todd E. Clark & Gary Koop, 2018. "A New Model of Inflation, Trend Inflation, and Long‐Run Inflation Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(1), pages 5-53, February.
    76. Mary C. Daly, 2022. "Resolute and Mindful: The Path to Price Stability," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2022(23), pages 1-6, November.
    77. PINSHI, Christian P., 2022. "Inflation-Forecast Targeting: A New Framework for Monetary Policy?," MPRA Paper 111709, University Library of Munich, Germany.
    78. Rufus Adebayo AJISAFE & Kazeem FASOYE & Musbau Olaniyan FATAI & Folorunsho M. AJIDE, 2022. "Optimal Fiscal and Monetary Policy Under Uncertainty in Nigeria: A Markov-Switching Dynamic Approach," Romanian Journal of Economics, Institute of National Economy, vol. 55(2(64)), pages 113-128, December.
    79. Stephen Williamson, 2019. "Neo-Fisherism and inflation control," Canadian Journal of Economics, Canadian Economics Association, vol. 52(3), pages 882-913, August.
    80. Michal Franta, 2018. "The likelihood of effective lower bound events," BIS Working Papers 731, Bank for International Settlements.
    81. Lansing, Kevin J., 2021. "Endogenous forecast switching near the zero lower bound," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 153-169.
    82. Busetti, Fabio & Neri, Stefano & Notarpietro, Alessandro & Pisani, Massimiliano, 2021. "Monetary policy strategies in the New Normal: A model-based analysis for the euro area," Journal of Macroeconomics, Elsevier, vol. 70(C).
    83. Hess Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2020. "Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve’s Current Policy Toolkit," CARF F-Series CARF-F-483, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    84. Lael Brainard, 2017. "Understanding the Disconnect between Employment and Inflation with a Low Neutral Rate : a speech at The Economic Club of New York New York, New York, September 5, 2017," Speech 969, Board of Governors of the Federal Reserve System (U.S.).
    85. Eric T. Swanson, 2018. "The Federal Reserve Is Not Very Constrained by the Lower Bound on Nominal Interest Rates," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 49(2 (Fall)), pages 555-572.
    86. Richard H. Clarida, 2019. "The Federal Reserve’s Review of Its Monetary Policy Strategy, Tools, and Communication Practices : A speech at \"Fed Policy: A Shadow Review\" Cato Institute’s 37th Annual Monetary Conferenc," Speech 1104, Board of Governors of the Federal Reserve System (U.S.).
    87. Jonas E. Arias & Martin Bodenstein & Hess T. Chung & Thorsten Drautzburg & Andrea Raffo, 2020. "Alternative Strategies: How Do They Work? How Might They Help?," Finance and Economics Discussion Series 2020-068, Board of Governors of the Federal Reserve System (U.S.).
    88. Louisa Kammerer & Miguel D. Ramirez, 2018. "Did Smaller Firms face Higher Costs of Credit during the Great Recession? A Vector Error Correction Analysis with Structural Breaks," Working Papers 1707, Trinity College, Department of Economics, revised Jun 2018.
    89. Philip Coyle & Taisuke Nakata, 2020. "Optimal Inflation Target with Expectations-Driven Liquidity Traps," CARF F-Series CARF-F-485, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    90. Curran, Michael & Dressler, Scott J., 2020. "Preferences, inflation, and welfare," European Economic Review, Elsevier, vol. 130(C).
    91. Martin Seneca, 2020. "Risk Shocks and Monetary Policy in the New Normal," International Journal of Central Banking, International Journal of Central Banking, vol. 16(6), pages 185-232, December.
    92. Hartmann, Philipp & Smets, Frank, 2018. "The first twenty years of the European Central Bank: monetary policy," CEPR Discussion Papers 13411, C.E.P.R. Discussion Papers.
    93. Dmitry Matveev, 2018. "Time-Consistent Management of a Liquidity Trap with Government Debt," 2018 Meeting Papers 310, Society for Economic Dynamics.
    94. James S. Fackler & W. Douglas McMillin, 2018. "Nominal GDP versus Price Level Targeting: An Empirical Evaluation," Departmental Working Papers 2018-05, Department of Economics, Louisiana State University.
    95. Dunbar, Kwamie & Owusu-Amoako, Johnson, 2021. "The impact of hedging on risk-averse agents’ output decisions," Economic Modelling, Elsevier, vol. 104(C).
    96. Bordo, Michael D. & Haubrich, Joseph G., 2024. "Low interest rates and the predictive content of the yield curve," The North American Journal of Economics and Finance, Elsevier, vol. 71(C).
    97. James A. Clouse, 2018. "Short Takes on Monetary Policy Strategy : An Introduction to Some Basic Concepts," Finance and Economics Discussion Series 2018-089, Board of Governors of the Federal Reserve System (U.S.).
    98. Richard H. Clarida, 2019. "The Federal Reserve’s Review of Its Monetary Policy Strategy, Tools, and Communication Practices : a speech at “A Hot Economy: Sustainability and Trade-Offs,” a Fed Listens event sponsored by the Fede," Speech 1085, Board of Governors of the Federal Reserve System (U.S.).
    99. Hills, Timothy S. & Nakata, Taisuke & Schmidt, Sebastian, 2019. "Effective lower bound risk," European Economic Review, Elsevier, vol. 120(C).
    100. Dennis Bonam, 2020. "A convenient truth: The convenience yield, low interest rates and implications for fiscal policy," Working Papers 700, DNB.
    101. Michael T. Kiley, 2018. "Quantitative Easing and the “New Normal” in Monetary Policy," Finance and Economics Discussion Series 2018-004, Board of Governors of the Federal Reserve System (U.S.).
    102. Lis, Eliza & Nickel, Christiane & Papetti, Andrea, 2020. "Demographics and inflation in the euro area: a two-sector new Keynesian perspective," Working Paper Series 2382, European Central Bank.
    103. Gerke, Rafael & Kienzler, Daniel & Scheer, Alexander, 2021. "Unconventional monetary policies at the effective lower bound," Technical Papers 03/2021, Deutsche Bundesbank.
    104. Selva Demiralp & Jens Eisenschmidt & Thomas Vlassopoulos, 2021. "Negative interest rates, excess liquidity and retail deposits: Banks’ reaction to unconventional monetary policy in the euro area," Koç University-TUSIAD Economic Research Forum Working Papers 1910, Koc University-TUSIAD Economic Research Forum.
    105. Richard H. Clarida, 2019. "The Federal Reserve's Review of Its Monetary Policy Strategy, Tools, and Communication Practices, a speech at \"The Bank of Finland Conference on Monetary Policy and Future of EMU [Economic and M," Speech 1075, Board of Governors of the Federal Reserve System (U.S.).
    106. Ruchir Agarwal & Miles Kimball, 2019. "Enabling Deep Negative Rates to Fight Recessions: A Guide," IMF Working Papers 2019/084, International Monetary Fund.
    107. Mitsuru Katagiri, 2022. "Equilibrium Yield Curve, the Phillips Curve, and Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(8), pages 2235-2272, December.
    108. Andrade, Philippe & Galí, Jordi & Le Bihan, Hervé & Matheron, Julien, 2021. "Should the ECB adjust its strategy in the face of a lower r★?," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
    109. Michael T. Kiley & Frederic S. Mishkin, 2024. "Central Banking Post Crises," Finance and Economics Discussion Series 2024-035, Board of Governors of the Federal Reserve System (U.S.).
    110. Stefano Neri & Stefano Siviero, 2019. "The non-standard monetary policy measures of the ECB: motivations, effectiveness and risks," Questioni di Economia e Finanza (Occasional Papers) 486, Bank of Italy, Economic Research and International Relations Area.
    111. Haavio, Markus & Laine, Olli-Matti, 2021. "Monetary policy rules and the effective lower bound in the Euro area," Bank of Finland Research Discussion Papers 5/2021, Bank of Finland.
    112. Meshcheryakov, A. & Sukhomlinov, A., 2024. "Considerations regarding inflation target levels," Journal of the New Economic Association, New Economic Association, vol. 62(1), pages 246-254.
    113. Dimitris Malliaropulos & Petros Migiakis, 2018. "Quantitative easing and sovereign bond yields: a global perspective," Working Papers 253, Bank of Greece.
    114. Pierre Jaillet & Benoît Mojon, 2018. "Les politiques d’objectifs des banques centrales en perspective," Revue française d'économie, Presses de Sciences-Po, vol. 0(3), pages 21-61.
    115. Philip Coyle & Taisuke Nakata, 2019. "Optimal Inflation Target with Expectations-Driven Liquidity Traps," Finance and Economics Discussion Series 2019-036, Board of Governors of the Federal Reserve System (U.S.).
    116. Lael Brainard, 2018. "Sustaining Full Employment and Inflation around Target : a speech at the Forecasters Club of New York, New York, New York, May 31, 2018," Speech 1005, Board of Governors of the Federal Reserve System (U.S.).
    117. Hess T. Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2019. "Monetary Policy Options at the Effective Lower Bound : Assessing the Federal Reserve's Current Policy Toolkit," Finance and Economics Discussion Series 2019-003, Board of Governors of the Federal Reserve System (U.S.).
    118. Richard H. Clarida, 2019. "The Federal Reserve’s Review of Its Monetary Policy Strategy, Tools, and Communication Practices : A speech at \"Fed Listens: A Capstone Roundtable\" hosted by the Federal Reserve Bank of Ne," Speech 1062, Board of Governors of the Federal Reserve System (U.S.).
    119. Sarah Goldman & Shouyi Zhang, 2021. "Monetary Policy within a COVID-19 Environment: The Role of Central Banks and the Main Challenges for the Euro-zone," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 197-212, July.
    120. Ha,Jongrim & Ivanova,Anna & Ohnsorge,Franziska Lieselotte & Unsal Portillo Ocando,Derya Filiz, 2019. "Inflation : Concepts, Evolution, and Correlates," Policy Research Working Paper Series 8738, The World Bank.
    121. Cynthia Balloch & Yann Koby & Mauricio Ulate, 2022. "Making Sense of Negative Nominal Interest Rates," Working Paper Series 2022-12, Federal Reserve Bank of San Francisco.
    122. Timo Haber & Edward S. Knotek & Jean-Paul L'Huillier & Julio L. Ortiz & Damjan Pfajfar & Robert W. Rich & Raphael Schoenle, 2020. "Inflation: Drivers and Dynamics | 2019 CEBRA Annual Meeting Session Summary," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2020(14), pages 1-3, June.
    123. Alebachew Abebe & Aboma Temesgen & Belete Kebede, 2023. "Modeling inflation rate factors on present consumption price index in Ethiopia: threshold autoregressive models approach," Future Business Journal, Springer, vol. 9(1), pages 1-12, December.
    124. Fernando M. Duarte & Benjamin K. Johannsen & Leonardo Melosi & Taisuke Nakata, 2020. "Strengthening the FOMC’s Framework in View of the Effective Lower Bound and Some Considerations Related to Time-Inconsistent Strategies," Finance and Economics Discussion Series 2020-067, Board of Governors of the Federal Reserve System (U.S.).
    125. Bank for International Settlements, 2019. "Unconventional monetary policy tools: a cross-country analysis," CGFS Papers, Bank for International Settlements, number 63.
    126. Alexiou, Constantinos & Trachanas, Emmanouil, 2020. "Predicting post-war US recessions: A probit modelling approach," Structural Change and Economic Dynamics, Elsevier, vol. 54(C), pages 210-219.
    127. Mojmir Hampl & Tomas Havranek, 2020. "Central Bank Equity as an Instrument of Monetary Policy," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 62(1), pages 49-68, March.
    128. John C. Williams, 2017. "Preparing for the Next Storm: Reassessing Frameworks and Strategies in a Low R-star World," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
    129. Grandi, Pietro & Guille, Marianne, 2023. "Banks, deposit rigidity and negative rates," Journal of International Money and Finance, Elsevier, vol. 133(C).
    130. Jerome H. Powell, 2019. "Opening Remarks : a speech at the \"Conference on Monetary Policy Strategy, Tools, and Communications Practices\" sponsored by the Federal Reserve, Federal Reserve Bank of Chicago, Chicago, ," Speech 1070, Board of Governors of the Federal Reserve System (U.S.).
    131. Eo, Yunjong & McClung, Nigel, 2021. "Determinacy and E-stability with interest rate rules at the zero lower bound," Bank of Finland Research Discussion Papers 14/2021, Bank of Finland.
    132. Stefano Neri & Giuseppe Ferrero, 2017. "Monetary policy in a low interest rate environment," Questioni di Economia e Finanza (Occasional Papers) 392, Bank of Italy, Economic Research and International Relations Area.
    133. Efrem Castelnuovo & Guay Lim & Giovanni Pellegrino, 2018. "Macroeconomic Policies in a Low Interest Rate Environment: Back to Keynes?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 51(1), pages 70-86, March.
    134. Luigi Oddo & Mile Bosnjak, 2021. "A comparative analysis of the monetary policy transmission channels in the U.S: a wavelet-based approach," Applied Economics, Taylor & Francis Journals, vol. 53(38), pages 4448-4463, August.

  13. David Aikman & Michael T. Kiley & Seung Jung Lee & Michael G. Palumbo & Missaka Warusawitharana, 2015. "Mapping Heat in the U.S. Financial System," Finance and Economics Discussion Series 2015-59, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Cakir, Murat, 2016. "A Conceptual Design of “What and How Should a Proper Macro-Prudential Policy Framework Be?” A Globalistic Approach to Systemic Risk and Procuring the Data Needed," MPRA Paper 72776, University Library of Munich, Germany.
    2. Fisher, Jack & Rachel, Lukasz, 2017. "Assessing vulnerabilities to financial shocks in some key global economies," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 10(1), pages 12-35, February.
    3. Hartwig, Benny & Meinerding, Christoph & Schüler, Yves S., 2021. "Identifying indicators of systemic risk," Journal of International Economics, Elsevier, vol. 132(C).
    4. Lieven Baele & Geert Bekaert & Koen Inghelbrecht & Min Wei, 2020. "Flights to Safety," The Review of Financial Studies, Society for Financial Studies, vol. 33(2), pages 689-746.
    5. Paolo Giordani & Simon H. Kwan, 2019. "Tracking Financial Fragility," Working Paper Series 2019-6, Federal Reserve Bank of San Francisco.
    6. Juan Francisco Martínez & Daniel Oda, 2018. "Characterization of the Chilean Financial Cycle, Early Warning Indicators and Implications for Macro-Prudential Policies," Working Papers Central Bank of Chile 823, Central Bank of Chile.
    7. Rozite, Kristiana & Bezemer, Dirk J. & Jacobs, Jan P.A.M., 2019. "Towards a financial cycle for the U.S., 1973–2014," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
    8. Dieckelmann, Daniel, 2020. "Cross-border lending and the international transmission of banking crises," Discussion Papers 2020/13, Free University Berlin, School of Business & Economics.
    9. Hessler, Andrew, 2023. "Unobserved components model estimates of credit cycles: Tests and predictions," Journal of Financial Stability, Elsevier, vol. 66(C).
    10. Caporin, Massimiliano & Garcia-Jorcano, Laura & Jimenez-Martin, Juan-Angel, 2022. "Measuring systemic risk during the COVID-19 period: A TALIS3 approach," Finance Research Letters, Elsevier, vol. 46(PA).
    11. Kiley, Michael T., 2021. "What macroeconomic conditions lead financial crises?," Journal of International Money and Finance, Elsevier, vol. 111(C).
    12. Lepers, Etienne & Sánchez Serrano, Antonio, 2020. "Decomposing financial (in)stability in emerging economies," Research in International Business and Finance, Elsevier, vol. 51(C).
    13. Colleen Baker & Christine M. Cumming & Julapa Jagtiani, 2017. "The Impacts Of Financial Regulations: Solvency And Liquidity In The Post-Crisis Period," Working Papers 17-10, Federal Reserve Bank of Philadelphia.
    14. John V. Duca & Lilit Popoyan & Susan M. Wachter, 2019. "Real Estate And The Great Crisis: Lessons For Macroprudential Policy," Contemporary Economic Policy, Western Economic Association International, vol. 37(1), pages 121-137, January.
    15. Lilit Popoyan & Mauro Napoletano & Andrea Roventini, 2020. "Winter is possibly not coming: Mitigating financial instability in an agent-based model with interbank market," Documents de Travail de l'OFCE 2020-14, Observatoire Francais des Conjonctures Economiques (OFCE).
    16. Duncan, Elizabeth & Horvath, Akos & Iercosan, Diana & Loudis, Bert & Maddrey, Alice & Martinez, Francis & Mooney, Timothy & Ranish, Ben & Wang, Ke & Warusawitharana, Missaka & Wix, Carlo, 2022. "COVID-19 as a stress test: Assessing the bank regulatory framework," Journal of Financial Stability, Elsevier, vol. 61(C).
    17. Scott A. Brave & Jose A. Lopez, 2018. "Calibrating Macroprudential Policy to Forecasts of Financial Stability," Working Paper Series 2017-17, Federal Reserve Bank of San Francisco.
    18. Mary Chen & Matthew DeHaven & Isabel Kitschelt & Seung Jung Lee & Martin J. Sicilian, 2023. "Identifying Financial Crises Using Machine Learning on Textual Data," JRFM, MDPI, vol. 16(3), pages 1-28, March.
    19. Stanley Fischer, 2017. "An Assessment of Financial Stability in the United States : a speech at the IMF Workshop on Financial Surveillance and Communication: Best Practices from Latin America, the Caribbean, and Advanced Eco," Speech 960, Board of Governors of the Federal Reserve System (U.S.).
    20. Gernát, Peter & Košťálová, Zuzana & Lyócsa, Štefan, 2020. "What drives U.S. financial sector volatility? A Bayesian model averaging perspective," Research in International Business and Finance, Elsevier, vol. 51(C).
    21. Alpanda, Sami & Granziera, Eleonora & Zubairy, Sarah, 2019. "State dependence of monetary policy across business, credit and interest rate cycles," Bank of Finland Research Discussion Papers 16/2019, Bank of Finland.
    22. Tatjana Dahlhaus & Alexander Lam, 2018. "Assessing Vulnerabilities in Emerging-Market Economies," Discussion Papers 18-13, Bank of Canada.
    23. Lee, Seung Jung & Posenau, Kelly E. & Stebunovs, Viktors, 2020. "The anatomy of financial vulnerabilities and banking crises," Journal of Banking & Finance, Elsevier, vol. 112(C).
    24. Bengtsson, Elias & Grothe, Magdalena & Lepers, Etienne, 2017. "Home, safe home: cross-country monitoring framework for vulnerabilities in the residential real estate sector," Working Paper Series 2096, European Central Bank.
    25. Yao, Fang, 2022. "Estimating the Trend of the House Price to Income Ratio in Ireland," Research Technical Papers 8/RT/22, Central Bank of Ireland.
    26. Emmanuel C. Mamatzakis & Mike G. Tsionas, 2021. "A Bayesian panel stochastic volatility measure of financial stability," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5363-5384, October.
    27. Eliana Lauretta & Sajid M. Chaudhry & Daniel Santamaria, 2023. "Unveiling the black swan of the finance‐growth Nexus: Assumptions and preliminary evidence of virtuous and unvirtuous cycles," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 3749-3773, October.
    28. Li Shang & Biao Zhou & Jiannan Li & Decai Tang & Valentina Boamah & Zhiwei Pan, 2024. "Evaluating financial fragility: a case study of Chinese banking and finance systems," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-9, December.
    29. Joe McLaughlin & Nathan Palmer & Adam Minson & Eric Parolin, 2018. "The OFR Financial System Vulnerabilities Monitor," Working Papers 18-01, Office of Financial Research, US Department of the Treasury.
    30. Michael T. Kiley, 2020. "Financial Conditions and Economic Activity: Insights from Machine Learning," Finance and Economics Discussion Series 2020-095, Board of Governors of the Federal Reserve System (U.S.).
    31. Marcin Pietrzak, 2021. "Can Financial Soundness Indicators Help Predict Financial Sector Distress?," IMF Working Papers 2021/197, International Monetary Fund.
    32. Carmen Broto & Mariya Melnychuk, 2022. "Structural risk indicators for the Spanish banking sector," Financial Stability Review, Banco de España, issue Autumn.
    33. Aikman, David & Bridges, Jonathan & Burgess, Stephen & Galletly, Richard & Levina, Iren & O'Neill, Cian & Varadi, Alexandra, 2018. "Measuring risks to UK financial stability," Bank of England working papers 738, Bank of England.
    34. Caporin, Massimiliano & Garcia-Jorcano, Laura & Jimenez-Martin, Juan-Angel, 2021. "TrAffic LIght system for systemic Stress: TALIS3," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    35. David Aikman & Andreas Lehnert & J. Nellie Liang & Michele Modugno, 2016. "Financial Vulnerabilities, Macroeconomic Dynamics, and Monetary Policy," Finance and Economics Discussion Series 2016-055, Board of Governors of the Federal Reserve System (U.S.).
    36. Mary Chen & Matthew DeHaven & Isabel Kitschelt & Seung Jung Lee & Martin Sicilian, 2023. "Identifying Financial Crises Using Machine Learning on Textual Data," International Finance Discussion Papers 1374, Board of Governors of the Federal Reserve System (U.S.).
    37. Nicu Sprincean, 2019. "Early Warning Indicators For Macrofinancial Activity In Romania," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 23, pages 137-162, June.
    38. Eduardo C. Castro, 2020. "RegGae: a toolkit for macroprudential policy with DSGEs," Working Papers Series 526, Central Bank of Brazil, Research Department.
    39. Chavleishvili, Sulkhan & Engle, Robert F. & Fahr, Stephan & Kremer, Manfred & Manganelli, Simone & Schwaab, Bernd, 2021. "The risk management approach to macro-prudential policy," Working Paper Series 2565, European Central Bank.

  14. Michael T. Kiley, 2015. "Low Inflation in the United States : A Summary of Recent Research," FEDS Notes 2015-11-23, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Kabundi, Alain & Poon, Aubrey & Wu, Ping, 2023. "A time-varying Phillips curve with global factors: Are global factors important?," Economic Modelling, Elsevier, vol. 126(C).
    2. Lael Brainard, 2018. "Navigating Monetary Policy as Headwinds Shift to Tailwinds : a speech at the Money Marketeers of New York University, New York, New York, March 6, 2018," Speech 993, Board of Governors of the Federal Reserve System (U.S.).
    3. Siena Daniele, & Zago Riccardo., 2021. "Job Polarization and the Flattening of the Price Phillips Curve," Working papers 819, Banque de France.
    4. Michl, Thomas, 2016. "Hysteresis in a Three-Equation Model," Working Papers 2016-01, Department of Economics, Colgate University, revised 31 Aug 2016.
    5. Andrea Ajello & Isabel Cairó & Vasco Curdia & Thomas A. Lubik & Albert Queraltó, 2020. "Monetary Policy Tradeoffs and the Federal Reserve's Dual Mandate," Finance and Economics Discussion Series 2020-066, Board of Governors of the Federal Reserve System (U.S.).
    6. Busato, Francesco & Varlese, Monica & Ulloa Severino, Claudia, 2022. "Public debt heterogeneity at country level: an empirical analysis," MPRA Paper 113812, University Library of Munich, Germany.
    7. Peter Hooper & Frederic S. Mishkin & Amir Sufi, 2019. "Prospects for Inflation in a High Pressure Economy: Is the Phillips Curve Dead or is It Just Hibernating?," NBER Working Papers 25792, National Bureau of Economic Research, Inc.
    8. James Hebden & J. David López-Salido, 2018. "From Taylor's Rule to Bernanke's Temporary Price Level Targeting," Finance and Economics Discussion Series 2018-051, Board of Governors of the Federal Reserve System (U.S.).
    9. Conti, Antonio M., 2021. "Resurrecting the Phillips Curve in Low-Inflation Times," Economic Modelling, Elsevier, vol. 96(C), pages 172-195.
    10. Ugo Panizza & Charles Wyplosz, 2018. "The Folk Theorem of Decreasing Effectiveness of Monetary Policy: What Do the Data Say?," Russian Journal of Money and Finance, Bank of Russia, vol. 77(1), pages 71-107, March.
    11. Michael Kumhof & Xuan Wang, 2020. "Banks, Money, and the Zero Lower Bound on Deposit Rates," Tinbergen Institute Discussion Papers 20-050/VI, Tinbergen Institute.
    12. Granville, Brigitte & Zeng, Ning, 2019. "Time variation in inflation persistence: New evidence from modelling US inflation," Economic Modelling, Elsevier, vol. 81(C), pages 30-39.
    13. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "La política monetaria cercada por un movimiento de pinzas," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 21(2), pages 004-044, August.
    14. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
    15. Jerome H. Powell, 2018. "Monetary Policy and Risk Management at a Time of Low Inflation and Low Unemployment: a speech at \"Revolution or Evolution? Reexamining Economic Paradigms\" 60th Annual Meeting of the Nation," Speech 1013, Board of Governors of the Federal Reserve System (U.S.).
    16. Franz Xaver Zobl & Martin Ertl, 2021. "The Condemned Live Longer – New Evidence of the New Keynesian Phillips Curve in Central and Eastern Europe," Open Economies Review, Springer, vol. 32(4), pages 671-699, September.
    17. Lael Brainard, 2017. "Why Persistent Employment Disparities Matter for the Economy's Health : a speech at \"Disparities in the Labor Market: What Are We Missing?\" a research conference sponsored by the Board of ," Speech 970, Board of Governors of the Federal Reserve System (U.S.).
    18. Jean-Guillaume Sahuc & Christian Pfister, 2020. "Unconventional Monetary Policies: A Stock-Taking Exercise," EconomiX Working Papers 2020-3, University of Paris Nanterre, EconomiX.
    19. Lael Brainard, 2017. "Navigating the Different Signals from Inflation and Unemployment : a speech at the New York Association for Business Economics, New York, New York, May 30, 2017," Speech 954, Board of Governors of the Federal Reserve System (U.S.).
    20. Andersson, Fredrik N.G. & Jonung, Lars, 2020. "Lessons from the Swedish Experience with Negative Central Bank Rates," Working Papers 2020:15, Lund University, Department of Economics.
    21. Juan Carlos Berganza & Pedro del Río & Fructuoso Borrallo, 2016. "Determinants and implications of low global inflation rates," Occasional Papers 1608, Banco de España.
    22. Wellmann, Susanne, 2023. "The Phillips curve in the euro area: New evidence using country-level data," University of Tübingen Working Papers in Business and Economics 156, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    23. Robert J. Tetlow, 2022. "How Large is the Output Cost of Disinflation?," Finance and Economics Discussion Series 2022-079, Board of Governors of the Federal Reserve System (U.S.).
    24. Brent Meyer & Nicholas B. Parker & Xuguang Sheng, 2021. "Unit Cost Expectations and Uncertainty: Firms' Perspectives on Inflation," FRB Atlanta Working Paper 2021-12a, Federal Reserve Bank of Atlanta.
    25. Gent Bajraj & Guillermo Carlomagno & Juan M. Wlasiuk, 2023. "Where is the Inflation? The Diverging Patterns of Prices of Goods and Services," Working Papers Central Bank of Chile 969, Central Bank of Chile.
    26. Olivier J. Blanchard, 2016. "The US Phillips Curve: Back to the 60s?," Policy Briefs PB16-1, Peterson Institute for International Economics.
    27. Martina Jašová & Richhild Moessner & Előd Takáts, 2018. "Domestic and Global Output Gaps as Inflation Drivers: What Does the Phillips Curve Tell?," CESifo Working Paper Series 7337, CESifo.
    28. Jerome H. Powell, 2018. "Monetary policy and risk management at a time of low inflation and low unemployment," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 53(4), pages 173-183, October.
    29. Jeremy J. Nalewaik, 2016. "Inflation Expectations and the Stabilization of Inflation : Alternative Hypotheses," Finance and Economics Discussion Series 2016-035, Board of Governors of the Federal Reserve System (U.S.).
    30. Jerome H. Powell, 2018. "Monetary Policy in a Changing Economy: a speech at \"Changing Market Structure and Implications for Monetary Policy,\" a symposium sponsored by the Federal Reserve Bank of Kansas City, Jacks," Speech 1010, Board of Governors of the Federal Reserve System (U.S.).
    31. Stefan Laseen & Marzie Taheri Sanjani, 2016. "Did the Global Financial Crisis Break the U.S. Phillips Curve?," IMF Working Papers 2016/126, International Monetary Fund.
    32. Hooper, Peter & Mishkin, Frederic S. & Sufi, Amir, 2020. "Prospects for inflation in a high pressure economy: Is the Phillips curve dead or is it just hibernating?," Research in Economics, Elsevier, vol. 74(1), pages 26-62.
    33. Yhlas SOVBETOV, 2019. "Phillips Curve Estimation During Tranquil and Recessionary Periods: Evidence From Panel Analysis," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 69(1), pages 23-41, June.
    34. Christopher J. Erceg & James Hebden & Michael T. Kiley & J. David López-Salido & Robert J. Tetlow, 2018. "Some Implications of Uncertainty and Misperception for Monetary Policy," Finance and Economics Discussion Series 2018-059, Board of Governors of the Federal Reserve System (U.S.).
    35. Harashima, Taiji, 2018. "Why Are Inflation and Real Interest Rates So Low? A Mechanism of Low and Floating Real Interest and Inflation Rates," MPRA Paper 84311, University Library of Munich, Germany.
    36. Lei Lv & Zhixin Liu & Yingying Xu, 2019. "Technological progress, globalization and low-inflation: Evidence from the United States," PLOS ONE, Public Library of Science, vol. 14(4), pages 1-19, April.

  15. Luca Guerrieri & Matteo Iacoviello & Francisco Covas & John C. Driscoll & Mohammad Jahan-Parvar & Michael Kiley & Albert Queraltoy & Jae Sim, 2015. "Macroeconomic Effects of Banking Sector Losses across Structural Models," BIS Working Papers 507, Bank for International Settlements.

    Cited by:

    1. Gete, Pedro, 2018. "Lending standards and macroeconomic dynamics," Working Paper Series 2207, European Central Bank.
    2. Leung, Charles Ka Yui & Ng, Joe Cho Yiu, 2018. "Macro Aspects of Housing," MPRA Paper 93512, University Library of Munich, Germany.
    3. Wieland, V. & Afanasyeva, E. & Kuete, M. & Yoo, J., 2016. "New Methods for Macro-Financial Model Comparison and Policy Analysis," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1241-1319, Elsevier.
    4. Gulan, Adam & Jokivuolle, Esa & Verona, Fabio, 2022. "Optimal bank capital requirements: What do the macroeconomic models say?," BoF Economics Review 2/2022, Bank of Finland.
    5. Darracq Pariès, Matthieu & Jacquinot, Pascal & Papadopoulou, Niki, 2016. "Parsing financial fragmentation in the euro area: a multi-country DSGE perspective," Working Paper Series 1891, European Central Bank.
    6. Aikman, David & Bluwstein, Kristina & Karmakar, Sudipto, 2021. "A tail of three occasionally-binding constraints: a modelling approach to GDP-at-Risk," Bank of England working papers 931, Bank of England.
    7. Ambrocio, Gene & Hasan, Iftekhar & Jokivuolle, Esa & Ristolainen, Kim, 2020. "Are bank capital requirements optimally set? Evidence from researchers’ views," Journal of Financial Stability, Elsevier, vol. 50(C).
    8. Patrick Fève & Pablo Garcia Sanchez & Alban Moura & Olivier Pierrard, 2019. "Costly Default And Asymmetric Real Business Cycles," LIDAM Discussion Papers IRES 2019018, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    9. Matthieu Darracq Paries, 2018. "Financial frictions and monetary policy conduct," Erudite Ph.D Dissertations, Erudite, number ph18-01 edited by Ferhat Mihoubi.
    10. David Aikman & Jonathan Bridges & Anil Kashyap & Caspar Siegert, 2019. "Would Macroprudential Regulation Have Prevented the Last Crisis?," Journal of Economic Perspectives, American Economic Association, vol. 33(1), pages 107-130, Winter.
    11. Hamed Ghiaie, 2017. "Credit Crunch On Financial Intermediary," THEMA Working Papers 2017-09, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    12. Júlio, Paulo & Maria, José R., 2024. "The magnifying role of the banking sector during depressions," Journal of Macroeconomics, Elsevier, vol. 79(C).
    13. Hirschbühl, Dominik & Krustev, Georgi & Stoevsky, Grigor, 2020. "Financial drivers of the euro area business cycle: a DSGE-based approach," Working Paper Series 2475, European Central Bank.
    14. Matthieu Darracq Paries & Pascal Jacquinot & Niki Papadopoulou, 2016. "Parsing Financial Frictions Underlying Bank Lending Fragmentation during the Euro Area Crisis," Working Papers 2016-7, Central Bank of Cyprus.
    15. Patrick Fève & Pablo Garcia Sanchez & Alban Moura & Olivier Pierrard, 2021. "Costly default and skewed business cycle," Post-Print hal-03346173, HAL.
    16. Yoo, Jinhyuk, 2017. "Capital injection to banks versus debt relief to households," IMFS Working Paper Series 111, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    17. Jhuvesh Sobrun & Philip Turner, 2015. "Bond markets and monetary policy dilemmas for the emerging markets," BIS Working Papers 508, Bank for International Settlements.
    18. Meeks, Roland, 2017. "Capital regulation and the macroeconomy: Empirical evidence and macroprudential policy," European Economic Review, Elsevier, vol. 95(C), pages 125-141.
    19. Matthieu Darracq Paries & Peter Karadi & Christoffer Kok & Kalin Nikolov, 2022. "The Impact of Capital Requirements on the Macroeconomy: Lessons from Four Macroeconomic Models of the Euro Area," International Journal of Central Banking, International Journal of Central Banking, vol. 18(5), pages 1-50, December.

  16. Michael T. Kiley & Jae W. Sim, 2015. "Optimal Monetary and Macroprudential Policies: Gains and Pitfalls in a Model of Financial Intermediation," Finance and Economics Discussion Series 2015-78, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Alejandro Torres-García & Carlos A. Ballesteros-Ruiz & Alfredo Villca-Condori, 2020. "Bank procyclicality, business cycles and capital requirements," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(2), pages 152-169, June.
    2. Caterina Mendicino & Kalin Nikolov & Javier Suarez & Dominik Supera, 2018. "Bank Capital in the Short and in the Long Run," Working Papers wp2018_1807, CEMFI.
    3. Jonathan Benchimol & Caroline Bozou, 2022. "Desirable Banking Competition and Stability," Bank of Israel Working Papers 2022.18, Bank of Israel.
    4. Agénor, Pierre-Richard & Jackson, Timothy & Jia, Pengfei, 2021. "Macroprudential policy coordination in a currency union," European Economic Review, Elsevier, vol. 137(C).
    5. Emmanuel Carré & Jézabel Couppey-Soubeyran & Salim Dehmej, 2015. "La coordination entre politique monétaire et politique macroprudentielle. Que disent les modèles dsge ?," Revue économique, Presses de Sciences-Po, vol. 66(3), pages 541-572.
    6. Jenny Körner, 2018. "Financial Intermediation, the Mortgage Market, and Macroprudential Regulation," CESifo Economic Studies, CESifo Group, vol. 64(1), pages 50-77.
    7. Agénor, Pierre-Richard & Jackson, Timothy P., 2022. "Monetary and macroprudential policy coordination with biased preferences," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
    8. François Gourio & Anil K. Kashyap & Jae W. Sim, 2017. "The Tradeoffs in Leaning Against the Wind," Working Paper Series WP-2017-21, Federal Reserve Bank of Chicago.
    9. Sim, Khai Zhi, 2023. "Monetary and fiscal coordination in preventing bank failures and financial contagion," Journal of Macroeconomics, Elsevier, vol. 75(C).
    10. Divino, Jose Angelo & Haraguchi, Carlos, 2022. "Monetary Policy And Reserve Requirements In A Small Open Economy," Macroeconomic Dynamics, Cambridge University Press, vol. 26(4), pages 1073-1106, June.
    11. Pierre-Richard Agénor & Luiz Awazu Pereira da Silva, 2019. "Global Banking, Financial Spillovers, and Macroprudential Policy Coordination," BIS Working Papers 764, Bank for International Settlements.
    12. Deng, Qiu Shi & Alvarado, Rafael & Cheng, Fang Nan & Cuesta, Lizeth & Wang, Chun Bao & Pinzón, Stefania, 2023. "Long-run mechanism for house price regulation in China: Real estate tax, monetary policy or macro-prudential policy?," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 174-186.
    13. Cho Daeha & Mok Junghwan & Shim Myungkyu, 2021. "Leaning-Against-the-Wind: Which Policy and When?," The B.E. Journal of Macroeconomics, De Gruyter, vol. 21(1), pages 125-150, January.

  17. Michael T. Kiley, 2015. "What Can the Data Tell Us About the Equilibrium Real Interest Rate?," Finance and Economics Discussion Series 2015-77, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Mikael Juselius & Claudio Borio & Piti Disyatat & Mathias Drehmann, 2017. "Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 13(3), pages 55-89, September.
    2. Gabriele Fiorentini & Alessandro Galesi & Gabriel Pérez-Quirós & Enrique Sentana, 2018. "The Rise and Fall of the Natural Interest Rate," Working Paper series 18-29, Rimini Centre for Economic Analysis.
    3. Beyer, Robert & Milivojevic, Lazar, 2021. "Dynamics and synchronization of global equilibrium interest rates," IMFS Working Paper Series 146, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    4. Etienne Gagnon & Benjamin K. Johannsen & David López-Salido, 2021. "Understanding the New Normal: The Role of Demographics," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(2), pages 357-390, June.
    5. Taeyoung Doh, 2017. "Trend and Uncertainty in the Long-Term Real Interest Rate: Bayesian Exponential Tilting with Survey Data," Research Working Paper RWP 17-8, Federal Reserve Bank of Kansas City.
    6. Marco Del Negro & Domenico Giannone & Marc Giannoni & Andrea Tambalotti, 2018. "Global trends in interest rates," Staff Reports 866, Federal Reserve Bank of New York.
    7. Michael T. Kiley, 2020. "Pandemic Recession Dynamics: The Role of Monetary Policy in Shifting a U-Shaped Recession to a V-Shaped Rebound," Finance and Economics Discussion Series 2020-083, Board of Governors of the Federal Reserve System (U.S.).
    8. NAKAJIMA, Jouchi & SUDO, Nao & HOGEN, Yoshihiko & TAKIZUKA, Yasutaka, 2023. "On the estimation of the natural yield curve," Discussion Paper Series 753, Institute of Economic Research, Hitotsubashi University.
    9. Krustev, Georgi, 2019. "The natural rate of interest and the financial cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 162(C), pages 193-210.
    10. Leeper, E.M. & Leith, C., 2016. "Understanding Inflation as a Joint Monetary–Fiscal Phenomenon," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2305-2415, Elsevier.
    11. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    12. Wolters, Maik Hendrik, 2018. "How the baby boomers' retirement wave distorts model-based output gap estimates," IMFS Working Paper Series 121, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    13. John B. Taylor & Volker Wieland, 2016. "Finding the Equilibrium Real Interest Rate in a Fog of Policy Deviations," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 51(3), pages 147-154, July.
    14. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2022. "Why So Low for So Long? A Long-Term View of Real Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 18(3), pages 47-87, September.
    15. Reuven Glick, 2019. "R* and the Global Economy," Working Paper Series 2019-18, Federal Reserve Bank of San Francisco.
    16. Alex Aronovich & Andrew C. Meldrum, 2021. "High-Frequency Estimates of the Natural Real Rate and Inflation Expectations," Finance and Economics Discussion Series 2021-034, Board of Governors of the Federal Reserve System (U.S.).
    17. Saeed Zaman, 2021. "A Unified Framework to Estimate Macroeconomic Stars," Working Papers 21-23R2, Federal Reserve Bank of Cleveland, revised 31 May 2024.
    18. Thomas M. Mertens & John C. Williams, 2020. "What to Expect from the Lower Bound on Interest Rates: Evidence from Derivatives Prices," Working Paper Series 2018-03, Federal Reserve Bank of San Francisco.
    19. Marco Del Negro & Domenico Giannone & Marc P. Giannoni & Andrea Tambalotti, 2017. "Safety, Liquidity, and the Natural Rate of Interest," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 235-316.
    20. Lange, Ronald H., 2017. "The expected real yield and inflation components of the nominal yield curve," The North American Journal of Economics and Finance, Elsevier, vol. 39(C), pages 1-18.
    21. Kurt F. Lewis & Francisco Vazquez-Grande, 2017. "Measuring the Natural Rate of Interest : A Note on Transitory Shocks," Finance and Economics Discussion Series 2017-059, Board of Governors of the Federal Reserve System (U.S.).
    22. Carrillo Julio A. & Elizondo Rocío & Rodríguez-Pérez Cid Alonso & Roldán-Peña Jessica, 2018. "What Determines the Neutral Rate of Interest in an Emerging Economy?," Working Papers 2018-22, Banco de México.
    23. Kan Chen & Nathaniel Karp, 2018. "Natural interest rates in the U.S., Canada and Mexico," Working Papers 18/07, BBVA Bank, Economic Research Department.
    24. Holston, Kathryn & Laubach, Thomas & Williams, John C., 2017. "Measuring the natural rate of interest: International trends and determinants," Journal of International Economics, Elsevier, vol. 108(S1), pages 59-75.
    25. Aditya Aladangady & Etienne Gagnon & Benjamin K. Johannsen & William B. Peterman, 2021. "Macroeconomic Implications of Inequality and Income Risk," Finance and Economics Discussion Series 2021-073, Board of Governors of the Federal Reserve System (U.S.).
    26. Andrea Berardi & Michael Markovich & Alberto Plazzi & Andrea Tamoni, 2021. "Mind the (Convergence) Gap: Bond Predictability Strikes Back!," Management Science, INFORMS, vol. 67(12), pages 7888-7911, December.
    27. Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul, 2019. "What anchors for the natural rate of interest?," BIS Working Papers 777, Bank for International Settlements.
    28. Tomas Breach & Stefania D'Amico & Athanasios Orphanides, 2016. "The Term Structure and Inflation Uncertainty," Working Paper Series WP-2016-22, Federal Reserve Bank of Chicago.
    29. Benjamin K. Johannsen & Elmar Mertens, 2021. "A Time‐Series Model of Interest Rates with the Effective Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(5), pages 1005-1046, August.
    30. Kevin Rennert & Brian C. Prest & William A. Pizer & Richard G. Newell & David Anthoff & Cora Kingdon & Lisa Rennels & Roger Cooke & Adrian E. Raftery & Hana Sevcikova & Frank Errickson, 2021. "The Social Cost of Carbon: Advances in Long-Term Probabilistic Projections of Population, GDP, Emissions, and Discount Rates," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 52(2 (Fall)), pages 223-305.
    31. Ansgar Belke & Jens Klose, 2017. "Equilibrium Real Interest Rates and Secular Stagnation: An Empirical Analysis for Euro Area Member Countries," Journal of Common Market Studies, Wiley Blackwell, vol. 55(6), pages 1221-1238, November.
    32. Mikkel Barslund & Lars Ludolph, 2019. "Could the decrease in Belgian government debt-servicing costs offset increased age-related expenditure?," Public Sector Economics, Institute of Public Finance, vol. 43(3), pages 225-246.
    33. Ferreira, Thiago R.T. & Shousha, Samer, 2023. "Determinants of global neutral interest rates," Journal of International Economics, Elsevier, vol. 145(C).
    34. Thomas Laubach & John C. Williams, 2015. "Measuring the natural rate of interest redux," Working Paper Series 2015-16, Federal Reserve Bank of San Francisco.
    35. Guihai Zhao, 2020. "Learning, Equilibrium Trend, Cycle, and Spread in Bond Yields," Staff Working Papers 20-14, Bank of Canada.
    36. Zhang, Ren & Martínez-García, Enrique & Wynne, Mark A. & Grossman, Valerie, 2021. "Ties that bind: Estimating the natural rate of interest for small open economies," Journal of International Money and Finance, Elsevier, vol. 113(C).
    37. Goto, Eiji, 2023. "International comovement of r∗: A case study of the G7 countries," Journal of Empirical Finance, Elsevier, vol. 74(C).
    38. Michael T. Kiley, 2020. "Financial Conditions and Economic Activity: Insights from Machine Learning," Finance and Economics Discussion Series 2020-095, Board of Governors of the Federal Reserve System (U.S.).
    39. Michael T. Kiley & Frederic S. Mishkin, 2024. "Central Banking Post Crises," Finance and Economics Discussion Series 2024-035, Board of Governors of the Federal Reserve System (U.S.).
    40. Michael D. Bauer & Glenn D. Rudebusch, 2023. "The Rising Cost of Climate Change: Evidence from the Bond Market," The Review of Economics and Statistics, MIT Press, vol. 105(5), pages 1255-1270, September.
    41. Fu, Bowen, 2023. "Measuring the trend real interest rate in a data-rich environment," Journal of Economic Dynamics and Control, Elsevier, vol. 147(C).
    42. Stanley Fischer, 2016. "Monetary Policy, Financial Stability, and the Zero Lower Bound : a speech at the Annual Meeting of the American Economic Association, San Francisco, California, January 3, 2016," Speech 886, Board of Governors of the Federal Reserve System (U.S.).
    43. Sophocles N. Brissimis & Evangelia A. Georgiou, 2022. "The effects of Federal Reserve's quantitative easing and balance sheet normalization policies on long-term interest rates," Working Papers 299, Bank of Greece.
    44. Jung, Alexander, 2024. "The quantity theory of money, 1870-2020," Working Paper Series 2940, European Central Bank.
    45. Thiago Revil T. Ferreira & Samer Shousha, 2021. "Supply of Sovereign Safe Assets and Global Interest Rates," International Finance Discussion Papers 1315, Board of Governors of the Federal Reserve System (U.S.).
    46. Lael Brainard, 2015. "Economic Outlook and Monetary Policy : a speech at the \"North America's Place in a Changing World Economy,\" 57th National Association for Business Economics Annual Meeting, Washington, D.C," Speech 869, Board of Governors of the Federal Reserve System (U.S.).

  18. David Aikman & Michael T. Kiley & Seung Jung Lee & Michael G. Palumbo & Missaka Warusawitharana, 2015. "Mapping Heat in the U.S. Financial System: A Summary," FEDS Notes 2015-08-05, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Tihana Skrinjaric, 2023. "Introducing a composite indicator of cyclical systemic risk in Croatia: possibilities and limitations," Public Sector Economics, Institute of Public Finance, vol. 47(1), pages 1-39.

  19. Michael T. Kiley, 2014. "Policy Paradoxes in the New Keynesian Model," Finance and Economics Discussion Series 2014-29, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. William T. Gavin & Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2013. "The stimulative effect of forward guidance," Working Papers 2013-38, Federal Reserve Bank of St. Louis.
    2. Hafedh Bouakez & Michel Guillard & Jordan Roulleau-Pasdeloup, 2014. "Public Investment, Time to Buid, and the Zero Lower Bound," Working Papers 2014-03, Center for Research in Economics and Statistics.
    3. Bing Tong & Guang Yang, 2020. "A Fixed-Interest-Rate New Keynesian Model of China," CFDS Discussion Paper Series 2020/1, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    4. George-Marios Angeletos & Chen Lian, 2018. "Forward Guidance without Common Knowledge," American Economic Review, American Economic Association, vol. 108(9), pages 2477-2512, September.
    5. Philippe Andrade & Gaetano Gaballo & Eric Mengus & Benoît Mojon, 2019. "Forward Guidance and Heterogeneous Beliefs," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(3), pages 1-29, July.
    6. Bredemeier, Christian & Juessen, Falko & Schabert, Andreas, 2015. "Fiscal Policy, Interest Rate Spreads, and the Zero Lower Bound," IZA Discussion Papers 8993, Institute of Labor Economics (IZA).
    7. Haderer, Michaela, 2022. "An Estimated DSGE Model of the Euro Area with Expectations about the Timing and Nature of Liftoff from the Lower Bound," Working Papers 2022-05, University of Sydney, School of Economics.
    8. Michael T. Kiley, 2024. "Monetary Policy, Employment Shortfalls, and the Natural Rate Hypothesis," Finance and Economics Discussion Series 2024-032, Board of Governors of the Federal Reserve System (U.S.).
    9. Nakata, Taisuke & Ogaki, Ryota & Schmidt, Sebastian & Yoo, Paul, 2019. "Attenuating the forward guidance puzzle: implications for optimal monetary policy," Working Paper Series 2220, European Central Bank.
    10. Ryan Niladri Banerjee & Fabrizio Zampolli, 2016. "What drives the short-run costs of fiscal consolidation? Evidence from OECD countries," BIS Working Papers 553, Bank for International Settlements.
    11. Gaballo, Gaetano & Ehrmann, Michael & Hoffmann, Peter & Strasser, Georg, 2019. "Can more public information raise uncertainty? The international evidence on forward guidance," CEPR Discussion Papers 13977, C.E.P.R. Discussion Papers.
    12. Harrison, Richard, 2015. "Estimating the effects of forward guidance in rational expectations models," European Economic Review, Elsevier, vol. 79(C), pages 196-213.
    13. Paul Hubert & Fabien Labondance, 2016. "The effect of ECB forward guidance on policy expectations," Working Papers hal-03459188, HAL.
    14. Stefania D'Amico & Thomas B. King, 2015. "What Does Anticipated Monetary Policy Do?," Working Paper Series WP-2015-10, Federal Reserve Bank of Chicago.
    15. Michael T. Kiley, 2014. "Policy Paradoxes in the New Keynesian Model," Finance and Economics Discussion Series 2014-29, Board of Governors of the Federal Reserve System (U.S.).
    16. Yihao Xue & Qiaoyu Liang & Bing Tong, 2022. "The Effects of Energy Supply Shocks and Interest Rate Liberalization in China," CFDS Discussion Paper Series 2022/1, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    17. Timothy S. Hills & Taisuke Nakata, 2018. "Fiscal Multipliers at the Zero Lower Bound: The Role of Policy Inertia," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(1), pages 155-172, February.
    18. Gauti Eggertsson & Vaishali Garga, 2018. "Sticky Prices versus Sticky Information: Does It Matter For Policy Paradoxes?," 2018 Meeting Papers 577, Society for Economic Dynamics.
    19. Sushant Acharya, 2014. "Costly information, planning complementarities and the Phillips Curve," Staff Reports 698, Federal Reserve Bank of New York.
    20. Christoffel, Kai & Mazelis, Falk & Montes-Galdón, Carlos & Müller, Tobias, 2020. "Disciplining expectations and the forward guidance puzzle," Working Paper Series 2424, European Central Bank.
    21. Cole, Stephen J., 2020. "The influence of learning and price-level targeting on central bank forward guidance," Journal of Macroeconomics, Elsevier, vol. 65(C).
    22. Valerie A. Ramey & Sarah Zubairy, 2018. "Government Spending Multipliers in Good Times and in Bad: Evidence from US Historical Data," Journal of Political Economy, University of Chicago Press, vol. 126(2), pages 850-901.
    23. Philippe Andrade & Filippo Ferroni, 2016. "Delphic and Odyssean monetary policy shocks: Evidence from the euro-area," School of Economics Discussion Papers 1216, School of Economics, University of Surrey.
    24. Taisuke Nakata, 2013. "Uncertainty at the zero lower bound," Finance and Economics Discussion Series 2013-09, Board of Governors of the Federal Reserve System (U.S.).
    25. Strobel, Johannes & Lee, Gabriel & Dorofeenko, Victor & Salyer, Kevin, 2019. "Time-Varying Risk Shocks and the Zero Lower Bound," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203491, Verein für Socialpolitik / German Economic Association.
    26. Florin O. Bilbiie, 2019. "Optimal Forward Guidance," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(4), pages 310-345, October.
    27. Andrade, Philippe & Coibion, Olivier & Gautier, Erwan & Gorodnichenko, Yuriy, 2022. "No firm is an island? How industry conditions shape firms’ expectations," Department of Economics, Working Paper Series qt93g54490, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    28. Bonciani, Dario & Oh, Joonseok, 2023. "Revisiting the New Keynesian policy paradoxes under QE," European Economic Review, Elsevier, vol. 154(C).
    29. van Holle, Frederiek, 2017. "Essays in empirical finance and monetary policy," Other publications TiSEM 30d11a4b-7bc9-4c81-ad24-5, Tilburg University, School of Economics and Management.
    30. Christopher Gibbs & Nigel McClung, 2023. "Online Appendix to "Code and data files for "Does my model predict a forward guidance puzzle?"," Online Appendices 22-197, Review of Economic Dynamics.
    31. Hahn, Volker & Marencak, Michal, 2018. "Price Points and Price Dynamics," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181516, Verein für Socialpolitik / German Economic Association.
    32. Lawrence J. Christiano & Martin S. Eichenbaum & Mathias Trabandt, 2018. "On DSGE Models," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 113-140, Summer.
    33. Jordan Roulleau-Pasdeloup, 2017. "The Government Spending Multiplier in a (Mis-)Managed Liquidity Trap," Cahiers de Recherches Economiques du Département d'économie 17.04, Université de Lausanne, Faculté des HEC, Département d’économie.
    34. Yangyang Ji, 2019. "Are Supply-side Reforms Contractionary at the Zero Lower Bound?," CESifo Economic Studies, CESifo Group, vol. 65(1), pages 68-83.
    35. Agustín Arias & Benjamín García & Ignacio Rojas, 2023. "Forward Guidance: Estimating a Behavioral DSGE Model with System Priors," Working Papers Central Bank of Chile 994, Central Bank of Chile.
    36. Haberis, Alex & Harrison, Richard & Waldron, Matt, 2019. "Uncertain policy promises," European Economic Review, Elsevier, vol. 111(C), pages 459-474.
    37. Charles T. Carlstrom & Timothy S. Fuerst & Matthias Paustian, 2012. "Inflation and output in New Keynesian models with a transient interest rate peg," Working Papers (Old Series) 1234, Federal Reserve Bank of Cleveland.
    38. Eskelinen, Maria & Gibbs, Christopher G. & McClung, Nigel, 2024. "Resolving new keynesian puzzles," Bank of Finland Research Discussion Papers 5/2024, Bank of Finland.
    39. Canzoneri, Matthew & Cao, Dan & Cumby, Robert & Diba, Behzad & Luo, Wenlan, 2018. "The forward fiscal guidance puzzle and a resolution," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 26-46.
    40. Harrison, Richard & Waldron, Matt, 2021. "Optimal policy with occasionally binding constraints: piecewise linear solution methods," Bank of England working papers 911, Bank of England.
    41. Lepetit, Antoine & Fuentes-Albero, Cristina, 2022. "The limited power of monetary policy in a pandemic," European Economic Review, Elsevier, vol. 147(C).
    42. Gregory E. Givens, 2022. "Unemployment, Partial Insurance, And The Multiplier Effects Of Government Spending," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(2), pages 571-599, May.
    43. Gerke, Rafael & Giesen, Sebastian & Kienzler, Daniel & Tenhofen, Jörn, 2017. "Interest-rate pegs, central bank asset purchases and the reversal puzzle," Discussion Papers 21/2017, Deutsche Bundesbank.
    44. Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2017. "Forward Guidance And The State Of The Economy," Economic Inquiry, Western Economic Association International, vol. 55(4), pages 1593-1624, October.
    45. Adam, Felix & Matthes, Jürgen, 2018. "Zur Belastbarkeit von Forderungen nach expansiver Fiskalpolitik an der Nullzinsgrenze: Eine Kritik neukeynesianischer Modelle auf Basis einer Literaturanalyse," IW-Reports 7/2018, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
    46. Tong, Bing, 2021. "The effects of capacity reduction policy under the interest rate peg in China," Journal of Asian Economics, Elsevier, vol. 74(C).
    47. Bredemeier, Christian & Kaufmann, Christoph & Schabert, Andreas, 2018. "Interest rate spreads and forward guidance," Working Paper Series 2186, European Central Bank.
    48. Michael T. Kiley, 2024. "Monetary Policy Strategies to Foster Price Stability and a Strong Labor Market," Finance and Economics Discussion Series 2024-033, Board of Governors of the Federal Reserve System (U.S.).
    49. Christian Bredemeier & Falko Juessen & Andreas Schabert, 2017. "Fiscal Multipliers and Monetary Policy: Reconciling Theory and Evidence," Working Paper Series in Economics 95, University of Cologne, Department of Economics.
    50. Bilbiie, Florin, 2018. "Neo-Fisherian Policies and Liquidity Traps," CEPR Discussion Papers 13334, C.E.P.R. Discussion Papers.
    51. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    52. Gopal K. Basak & Mrinal K. Ghosh & Diganta Mukherjee, 2019. "A Stochastic Model with Inflation, Growth and Technology for the Political Business Cycle," Computational Economics, Springer;Society for Computational Economics, vol. 53(1), pages 125-140, January.
    53. Cochrane, John H., 2017. "The new-Keynesian liquidity trap," Journal of Monetary Economics, Elsevier, vol. 92(C), pages 47-63.
    54. de Groot, Oliver & Mazelis, Falk, 2020. "Mitigating the forward guidance puzzle: inattention, credibility, finite planning horizons and learning," Working Paper Series 2426, European Central Bank.
    55. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.
    56. Gerke, Rafael & Giesen, Sebastian & Kienzler, Daniel, 2020. "Interest rate pegs and the reversal puzzle: On the role of anticipation," Discussion Papers 50/2020, Deutsche Bundesbank.
    57. Yépez, Carlos A., 2018. "The impact of credit and fiscal policy under a liquidity trap," The North American Journal of Economics and Finance, Elsevier, vol. 44(C), pages 1-11.
    58. Gibbs, Christopher G. & McClung, Nigel, 2019. "Does my model predict a forward guidance puzzle?," Bank of Finland Research Discussion Papers 19/2019, Bank of Finland.
    59. Airaudo, Marco, 2017. "Temptation and Forward Guidance," School of Economics Working Paper Series 2017-4, LeBow College of Business, Drexel University.
    60. Gerke, Rafael & Giesen, Sebastian & Scheer, F. Alexander, 2020. "The power of forward guidance in a quantitative TANK model," Discussion Papers 03/2020, Deutsche Bundesbank.
    61. Alisdair McKay & Emi Nakamura & Jón Steinsson, 2016. "The Power of Forward Guidance Revisited," American Economic Review, American Economic Association, vol. 106(10), pages 3133-3158, October.
    62. Behzad Diba & Olivier Loisel, 2019. "Pegging the Interest Rate on Bank Reserves: A Resolution of New Keynesian Puzzles and Paradoxes," Working Papers gueconwpa~19-19-05, Georgetown University, Department of Economics.
    63. Ji, Yangyang, 2022. "Can Discounting Alone Resolve the Forward Guidance Puzzle?," MPRA Paper 115353, University Library of Munich, Germany.
    64. Yangyang Ji, 2021. "Are Technology Shocks More Expansionary at the ZLB?," CESifo Economic Studies, CESifo Group, vol. 67(3), pages 296-317.
    65. Darracq Pariès, Matthieu & Notarpietro, Alessandro & Kilponen, Juha & Papadopoulou, Niki & Zimic, Srečko & Aldama, Pierre & Langenus, Geert & Alvarez, Luis Julian & Lemoine, Matthieu & Angelini, Elena, 2021. "Review of macroeconomic modelling in the Eurosystem: current practices and scope for improvement," Occasional Paper Series 267, European Central Bank.
    66. Bonciani, Dario & Oh, Joonseok, 2023. "Monetary policy inertia and the paradox of flexibility," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    67. Jeffrey R. Campbell & Jonas D. M. Fisher & Alejandro Justiniano & Leonardo Melosi, 2016. "Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis," Working Paper Series WP-2016-7, Federal Reserve Bank of Chicago.
    68. Nicolas Caramp & Dejanir Silva, 2019. "Fiscal Origins of Monetary Paradoxes," 2019 Meeting Papers 1281, Society for Economic Dynamics.
    69. Gregor Boehl & Philipp Lieberknecht, 2021. "The Hockey Stick Phillips Curve and the Zero Lower Bound," CRC TR 224 Discussion Paper Series crctr224_2021_266, University of Bonn and University of Mannheim, Germany.
    70. Doh, Taeyoung & Smith, A. Lee, 2022. "A new approach to integrating expectations into VAR models," Journal of Monetary Economics, Elsevier, vol. 132(C), pages 24-43.
    71. Rodríguez Arosemena, Nicolás, 2018. "The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law," MPRA Paper 90560, University Library of Munich, Germany.
    72. Cole, Stephen J. & Martínez-García, Enrique, 2023. "The effect of central bank credibility on forward guidance in an estimated New Keynesian model," Macroeconomic Dynamics, Cambridge University Press, vol. 27(2), pages 532-570, March.
    73. Böhl, Gregor & Lieberknecht, Philipp, 2021. "The hockey stick Phillips curve and the effective lower bound," Discussion Papers 55/2021, Deutsche Bundesbank.
    74. Richhild Moessner & David-Jan Jansen & Jakob de Haan, 2017. "Communication About Future Policy Rates In Theory And Practice: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 31(3), pages 678-711, July.
    75. Bing Tong, 2020. "Capacity Reduction Policy Under the Interest Rate Peg in China," CFDS Discussion Paper Series 2020/2, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    76. Haberis, Alex & Harrison, Richard & Waldron, Matthew, 2017. "Uncertain forward guidance," Bank of England working papers 654, Bank of England.
    77. Kim, Minseong, 2019. "Symmetry condition and re-assessing Blanchard-Kiyotaki decades later," MPRA Paper 96945, University Library of Munich, Germany, revised 11 Nov 2019.
    78. Gregor Bäurle & Daniel Kaufmann, 2018. "Measuring Exchange Rate, Price, and Output Dynamics at the Effective Lower Bound," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 80(6), pages 1243-1266, December.

  20. David M. Arseneau & Michael T. Kiley, 2014. "The Role of Financial Imbalances in Assessing the State of the Economy," FEDS Notes 2014-04-18, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Mikael Juselius & Claudio Borio & Piti Disyatat & Mathias Drehmann, 2017. "Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 13(3), pages 55-89, September.
    2. Krustev, Georgi, 2019. "The natural rate of interest and the financial cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 162(C), pages 193-210.
    3. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
    4. Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul, 2019. "What anchors for the natural rate of interest?," BIS Working Papers 777, Bank for International Settlements.
    5. Michael T. Kiley, 2015. "What Can the Data Tell Us About the Equilibrium Real Interest Rate?," Finance and Economics Discussion Series 2015-77, Board of Governors of the Federal Reserve System (U.S.).
    6. Marko Melolinna & Máté Tóth, 2019. "Output gaps, inflation and financial cycles in the UK," Empirical Economics, Springer, vol. 56(3), pages 1039-1070, March.
    7. Fethi Ogunc & Cagri Sarikaya, 2015. "Enflasyonu Aciklamada Kredilerin Bilgi Degeri," CBT Research Notes in Economics 1512, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    8. Claudio Borio, 2017. "Secular stagnation or financial cycle drag?," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 52(2), pages 87-98, April.

  21. Michael T. Kiley, 2014. "An Evaluation of the Inflationary Pressure Associated with Short- and Long-term Unemployment," Finance and Economics Discussion Series 2014-28, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Annalisa Cristini & Piero Ferri, 2021. "Nonlinear models of the Phillips curve," Journal of Evolutionary Economics, Springer, vol. 31(4), pages 1129-1155, September.
    2. Michael McLeay & Silvana Tenreyro, 2018. "Optimal Inflation and the Identification of the Phillips Curve," Discussion Papers 1815, Centre for Macroeconomics (CFM).
    3. Michael Dotsey & Shigeru Fujita & Tom Stark, 2011. "Do Phillips curves conditionally help to forecast inflation?," Working Papers 11-40, Federal Reserve Bank of Philadelphia.
    4. Simone Auer, 2018. "Labour market conditions and wage inflation in CEE economies," Questioni di Economia e Finanza (Occasional Papers) 460, Bank of Italy, Economic Research and International Relations Area.
    5. Behera, Harendra & Wahi, Garima & Kapur, Muneesh, 2018. "Phillips curve relationship in an emerging economy: Evidence from India," Economic Analysis and Policy, Elsevier, vol. 59(C), pages 116-126.
    6. Nathan R. Babb & Alan K. Detmeister, 2017. "Nonlinearities in the Phillips Curve for the United States : Evidence Using Metropolitan Data," Finance and Economics Discussion Series 2017-070, Board of Governors of the Federal Reserve System (U.S.).
    7. Patrick C. Higgins, 2021. "The Phillips Curve during the Pandemic: Bringing Regional Data to Bear," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2021(11), September.
    8. Speigner, Bradley, 2014. "Long-term unemployment and convexity in the Phillips curve," Bank of England working papers 519, Bank of England.
    9. Di Domenico, Lorenzo & Gahn, Santiago José & Romaniello, Davide, 2024. "Testing the Waters of Positive Hysteresis: The Effects of Autonomous Demand Shocks on Inflation, Accumulation, and Labor in the US Economy," Centro Sraffa Working Papers CSWP64, Centro di Ricerche e Documentazione "Piero Sraffa".
    10. James H. Stock & Mark W. Watson, 2019. "Slack and Cyclically Sensitive Inflation," NBER Working Papers 25987, National Bureau of Economic Research, Inc.
    11. Baumann, Ursel & Albuquerque, Bruno, 2017. "Will US inflation awake from the dead? The role of slack and non-linearities in the Phillips curve," Working Paper Series 2001, European Central Bank.
    12. Eser, Fabian & Lane, Philip & Moretti, Laura & Osbat, Chiara & Karadi, Peter, 2020. "The Phillips Curve at the ECB," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224627, Verein für Socialpolitik / German Economic Association.
    13. Krzysztof Bartosik & Jerzy Mycielski, 2016. "Dynamika płac a długotrwałe bezrobocie w polskiej gospodarce," Bank i Kredyt, Narodowy Bank Polski, vol. 47(5), pages 435-462.
    14. Michael T. Kiley, 2022. "Anchored or Not: How Much Information Does 21st Century Data Contain on Inflation Dynamics?," Finance and Economics Discussion Series 2022-016, Board of Governors of the Federal Reserve System (U.S.).
    15. Maria A. Arias & Charles S. Gascon & David E. Rapach, 2014. "Metro Business Cycles," Working Papers 2014-46, Federal Reserve Bank of St. Louis.
    16. Michael T. Kiley, 2015. "What Can the Data Tell Us About the Equilibrium Real Interest Rate?," Finance and Economics Discussion Series 2015-77, Board of Governors of the Federal Reserve System (U.S.).
    17. David N. F. Bell & David G. Blanchflower, 2014. "Labor Market Slack in the United Kingdom," Working Paper Series WP14-2, Peterson Institute for International Economics.
    18. Anil Kumar & Pia M. Orrenius, 2014. "A closer look at the Phillips curve using state-level data," Working Papers 1409, Federal Reserve Bank of Dallas.
    19. Davide Romaniello, 2022. "Unemployment gap, isteresi e disoccupazione di lunga durata: quale ruolo nella comprensione dell'inflazione? (Unemployment gap, hysteresis and long-term unemployment: which role in explaining inflatio," Moneta e Credito, Economia civile, vol. 75(299), pages 267-283.
    20. Stephanie Aaronson & Mary C. Daly & William L. Wascher & David W. Wilcox, 2019. "Okun Revisited: Who Benefits Most from a Strong Economy," Finance and Economics Discussion Series 2019-072, Board of Governors of the Federal Reserve System (U.S.).
    21. Behera, Harendra & Wahi, Garima & Kapur, Muneesh, 2017. "Phillips Curve Relationship in India: Evidence from State-Level Analysis," MPRA Paper 80737, University Library of Munich, Germany.
    22. Aginta, Harry, 2023. "Revisiting the Phillips curve for Indonesia: What can we learn from regional data?," Journal of Asian Economics, Elsevier, vol. 85(C).
    23. R. Jason Faberman & Andreas I. Mueller & Ayşegül Şahin* & Giorgio Topa, 2020. "The Shadow Margins of Labor Market Slack," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S2), pages 355-391, December.
    24. Glenn D. Rudebusch & John C. Williams, 2014. "A Wedge in the Dual Mandate: Monetary Policy and Long-Term Unemployment," Working Paper Series 2014-14, Federal Reserve Bank of San Francisco.
    25. Doo Won Bang & HyuckShin Kwon, 2022. "Policy Impact Analysis of Housing Policies Using Housing Cycles," SAGE Open, , vol. 12(3), pages 21582440221, July.
    26. Sylvain Leduc & Daniel Wilson, 2018. "From NY to LA: A Look at the Wage Phillips Curve Using Cross-Geographical Data," 2018 Meeting Papers 1290, Society for Economic Dynamics.
    27. Cecchetti, Stephen & Feroli, Michael & Hooper, Peter & Kashyap, Anil & Schoenholtz, Kermit L., 2017. "Deflating Inflation Expectations: The Implications of Inflation’s Simple Dynamics," CEPR Discussion Papers 11925, C.E.P.R. Discussion Papers.
    28. James H. Stock & Mark W. Watson, 2020. "Slack and Cyclically Sensitive Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S2), pages 393-428, December.

  22. Hess Chung & Edward Herbst & Michael T. Kiley, 2014. "Effective Monetary Policy Strategies in New Keynesian Models: A Re-examination," NBER Working Papers 20611, National Bureau of Economic Research, Inc.

    Cited by:

    1. George-Marios Angeletos, 2018. "Frictional Coordination," Journal of the European Economic Association, European Economic Association, vol. 16(3), pages 563-603.
    2. Jean-Bernard Chatelain & Kirsten Ralf, 2018. "Super-inertial interest rate rules are not solutions of Ramsey optimal monetary policy," Working Papers halshs-01863367, HAL.
    3. Hess Chung & Edward Herbst & Michael T. Kiley, 2014. "Effective Monetary Policy Strategies in New Keynesian Models: A Re-examination," NBER Working Papers 20611, National Bureau of Economic Research, Inc.
    4. Michael T. Kiley, 2014. "Policy Paradoxes in the New Keynesian Model," Finance and Economics Discussion Series 2014-29, Board of Governors of the Federal Reserve System (U.S.).
    5. Beqiraj, Elton & Di Bartolomeo, Giovanni & Di Pietro, Marco, 2019. "Beliefs formation and the puzzle of forward guidance power," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 20-32.
    6. Hommes, Cars & Makarewicz, Tomasz, 2021. "Price level versus inflation targeting under heterogeneous expectations: a laboratory experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 182(C), pages 39-82.
    7. Haberis, Alex & Harrison, Richard & Waldron, Matt, 2019. "Uncertain policy promises," European Economic Review, Elsevier, vol. 111(C), pages 459-474.
    8. Kiley, Michael T. & Sim, Jae, 2017. "Optimal monetary and macroprudential policies: Gains and pitfalls in a model of financial intermediation," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 232-259.
    9. Marco Del Negro & Raiden B. Hasegawa & Frank Schorfheide, 2014. "Dynamic Prediction Pools: An Investigation of Financial Frictions and Forecasting Performance," PIER Working Paper Archive 14-034, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    10. Proaño, Christian R. & Lojak, Benjamin, 2020. "Animal spirits, risk premia and monetary policy at the zero lower bound," Journal of Economic Behavior & Organization, Elsevier, vol. 171(C), pages 221-233.
    11. Lepetit, Antoine & Fuentes-Albero, Cristina, 2022. "The limited power of monetary policy in a pandemic," European Economic Review, Elsevier, vol. 147(C).
    12. Vaishali Garga & Sanjay R. Singh, 2019. "Output Hysteresis and Optimal Monetary Policy," Working Papers 19-19, Federal Reserve Bank of Boston.
    13. Adam, Felix & Matthes, Jürgen, 2018. "Zur Belastbarkeit von Forderungen nach expansiver Fiskalpolitik an der Nullzinsgrenze: Eine Kritik neukeynesianischer Modelle auf Basis einer Literaturanalyse," IW-Reports 7/2018, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
    14. Bredemeier, Christian & Kaufmann, Christoph & Schabert, Andreas, 2018. "Interest rate spreads and forward guidance," Working Paper Series 2186, European Central Bank.
    15. Michael T. Kiley, 2024. "Monetary Policy Strategies to Foster Price Stability and a Strong Labor Market," Finance and Economics Discussion Series 2024-033, Board of Governors of the Federal Reserve System (U.S.).
    16. Eric M. Engen & Thomas Laubach & David L. Reifschneider, 2015. "The Macroeconomic Effects of the Federal Reserve's Unconventional Monetary Policies," Finance and Economics Discussion Series 2015-5, Board of Governors of the Federal Reserve System (U.S.).
    17. Hess Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2020. "Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve’s Current Policy Toolkit," CARF F-Series CARF-F-483, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    18. George-Marios Angeletos & Zhen Huo, 2018. "Myopia and Anchoring," NBER Working Papers 24545, National Bureau of Economic Research, Inc.
    19. Lars E. O. Svensson, 2014. "Comment on "Effective Monetary Policy Strategies in New Keynesian Models: A Reexamination"," NBER Chapters, in: NBER Macroeconomics Annual 2014, Volume 29, pages 345-353, National Bureau of Economic Research, Inc.
    20. Martin Bodenstein & Junzhu Zhao, 2017. "On Targeting Frameworks and Optimal Monetary Policy," Finance and Economics Discussion Series 2017-098, Board of Governors of the Federal Reserve System (U.S.).
    21. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 317-396.
    22. Jean-Bernard Chatelain & Kirsten Ralf, 2023. "Super-Inertial Interest Rate Rules are not Solutions of Ramsey Optimal Policy," Revue d'économie politique, Dalloz, vol. 133(1), pages 119-146.
    23. Hess T. Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2019. "Monetary Policy Options at the Effective Lower Bound : Assessing the Federal Reserve's Current Policy Toolkit," Finance and Economics Discussion Series 2019-003, Board of Governors of the Federal Reserve System (U.S.).
    24. Haberis, Alex & Harrison, Richard & Waldron, Matthew, 2017. "Uncertain forward guidance," Bank of England working papers 654, Bank of England.
    25. Meyer-Gohde, Alexander & Tzaawa-Krenzler, Mary, 2023. "Sticky information and the Taylor principle," IMFS Working Paper Series 189, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    26. Timothy S. Hills & Taisuke Nakata & Sebastian Schmidt, 2016. "The Risk of Returning to the Effective Lower Bound: An Implication for Inflation Dynamics After Lift-Off," FEDS Notes 2016-02-12-2, Board of Governors of the Federal Reserve System (U.S.).

  23. Michael T. Kiley, 2013. "Monetary policy statements, Treasury yields, and private yields: before and after the zero lower bound," Finance and Economics Discussion Series 2013-16, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Janet L. Yellen, 2011. "Improving the International Monetary and Financial System : a speech at the Banque de France International Symposium, Paris, France, March 4, 2011," Speech 608, Board of Governors of the Federal Reserve System (U.S.).
    2. Gabriel Chodorow-Reich, 2014. "Effects of Unconventional Monetary Policy on Financial Institutions," NBER Working Papers 20230, National Bureau of Economic Research, Inc.
    3. Ben S. Bernanke, 2014. "The Federal Reserve: Looking Back, Looking Forward : a speech at the Annual Meeting of the American Economic Association, Philadelphia, Pennsylvania, January 3, 2014," Speech 792, Board of Governors of the Federal Reserve System (U.S.).
    4. Goy, Gavin & Hommes, Cars & Mavromatis, Kostas, 2022. "Forward guidance and the role of central bank credibility under heterogeneous beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1240-1274.
    5. Österholm, Pär, 2018. "The relation between treasury yields and corporate bond yield spreads in Australia: Evidence from VARs," Finance Research Letters, Elsevier, vol. 24(C), pages 186-192.
    6. George A. Kahn & Lisa Taylor, 2014. "Evolving market perceptions of Federal Reserve policy objectives," Macro Bulletin, Federal Reserve Bank of Kansas City, pages 1-2, March.
    7. Kiley, Michael T., 2016. "Monetary policy statements, treasury yields, and private yields: Before and after the zero lower bound," Finance Research Letters, Elsevier, vol. 18(C), pages 285-290.
    8. Linda S. Goldberg & Christian Grisse, 2013. "Time Variation in Asset Price Responses to Macro Announcements," NBER Working Papers 19523, National Bureau of Economic Research, Inc.
    9. Chen, Hsuan-Chi & Yeh, Chia-Wei, 2021. "Global financial crisis and COVID-19: Industrial reactions," Finance Research Letters, Elsevier, vol. 42(C).
    10. Thornton, John & Vasilakis, Chrysovalantis, 2017. "Inflation targeting and the cyclicality of monetary policy," Finance Research Letters, Elsevier, vol. 20(C), pages 296-302.
    11. Michael T. Kiley, 2018. "Quantitative Easing and the “New Normal” in Monetary Policy," Finance and Economics Discussion Series 2018-004, Board of Governors of the Federal Reserve System (U.S.).
    12. Park, Keun Woo & Hong, Dahae & Oh, Ji Yeol Jimmy, 2019. "Investor behavior around monetary policy announcements: Evidence from the Korean stock market," Finance Research Letters, Elsevier, vol. 28(C), pages 355-362.
    13. Caputo, Rodrigo & Pedersen, Michael, 2020. "The changing nature of the real exchange rate: The role of central bank preferences," Economic Modelling, Elsevier, vol. 90(C), pages 445-464.

  24. Michael T. Kiley, 2013. "The response of equity prices to movements in long-term interest rates associated with monetary policy statements: before and after the zero lower bound," Finance and Economics Discussion Series 2013-15, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Tadle, Raul Cruz, 2022. "FOMC minutes sentiments and their impact on financial markets," Journal of Economics and Business, Elsevier, vol. 118(C).
    2. Mariarosaria Comunale, 2017. "Synchronicity of real and financial cycles and structural characteristics in EU countries," Bank of Lithuania Occasional Paper Series 15, Bank of Lithuania.
    3. Marques-Ibanez, David & Santilli, Gianluca & Scardozzi, Giulia, 2024. "Bail-in in action," Economics Letters, Elsevier, vol. 241(C).
    4. John H. Rogers & Chiara Scotti & Jonathan H. Wright, 2014. "Evaluating Asset-Market Effects of Unconventional Monetary Policy: A Cross-Country Comparison," International Finance Discussion Papers 1101, Board of Governors of the Federal Reserve System (U.S.).
    5. Saroj Bhattarai & Christopher J. Neely, 2016. "An Analysis of the Literature on International Unconventional Monetary Policy," Working Papers 2016-021, Federal Reserve Bank of St. Louis, revised 04 May 2020.
    6. Dario Caldara & Etienne Gagnon & Enrique Martínez García & Christopher J. Neely, 2020. "Monetary Policy and Economic Performance since the Financial Crisis," Finance and Economics Discussion Series 2020-065, Board of Governors of the Federal Reserve System (U.S.).
    7. Edda Claus & Iris Claus & Leo Krippner, 2014. "Asset markets and monetary policy shocks at the zero lower bound," CAMA Working Papers 2014-42, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    8. Thomas H. McInish & Christopher J. Neely & Jade Planchon, 2017. "Unconventional monetary policy and the behavior of shorts," Working Papers 2017-031, Federal Reserve Bank of St. Louis, revised 30 Sep 2021.
    9. Bernhard, Severin & Ebner, Till, 2017. "Cross-border spillover effects of unconventional monetary policies on Swiss asset prices," Journal of International Money and Finance, Elsevier, vol. 75(C), pages 109-127.
    10. Banegas, Ayelen & Montes-Rojas, Gabriel & Siga, Lucas, 2022. "The effects of U.S. monetary policy shocks on mutual fund investing," Journal of International Money and Finance, Elsevier, vol. 123(C).
    11. Juan A. Montecino & Gerald Epstein, 2015. "Did Quantitative Easing Increase Income Inequality?," Working Papers Series 28, Institute for New Economic Thinking.
    12. Bhanupong Nidhiprabha, 2016. "Impacts of Quantitative Monetary Easing Policy in the United States and Japan on the Thai Economy," The Developing Economies, Institute of Developing Economies, vol. 54(1), pages 80-102, March.
    13. Mamaysky, Harry, 2018. "The time horizon of price responses to quantitative easing," Journal of Banking & Finance, Elsevier, vol. 90(C), pages 32-49.
    14. Alba Carlos & Cuadra Gabriel & Ibarra Raúl, 2023. "Effects of the Extraordinary Measures Implemented by Banco de México during the COVID-19 Pandemic on Financial Conditions," Working Papers 2023-03, Banco de México.
    15. Kiley, Michael T., 2016. "Monetary policy statements, treasury yields, and private yields: Before and after the zero lower bound," Finance Research Letters, Elsevier, vol. 18(C), pages 285-290.
    16. Stephanos Papadamou & Νikolaos A. Kyriazis & Panayiotis G. Tzeremes, 2020. "US non-linear causal effects on global equity indices in Normal times versus unconventional eras," International Economics and Economic Policy, Springer, vol. 17(2), pages 381-407, May.
    17. Unalmis, Deren & Unalmis, Ibrahim, 2015. "The Effects of Conventional and Unconventional Monetary Policy Surprises on Asset Markets in the United States," MPRA Paper 62585, University Library of Munich, Germany.
    18. Shah, Imran Hussain & Schmidt-Fischer, Francesca & Malki, Issam & Hatfield, Richard, 2019. "A structural break approach to analysing the impact of the QE portfolio balance channel on the US stock market," International Review of Financial Analysis, Elsevier, vol. 64(C), pages 204-220.
    19. Wu, Wenbin, 2016. "Are financial markets less responsive to monetary policy shocks at the zero lower bound?," Economics Letters, Elsevier, vol. 145(C), pages 258-261.
    20. Maximilian Renz & Olaf Stotz, 2021. "A macroeconomic hedge portfolio and the cross section of stock returns," Review of Financial Economics, John Wiley & Sons, vol. 39(1), pages 73-94, January.
    21. Michael Connolly & Taeyoung Doh, 2013. "Has the effect of monetary policy announcements on asset prices changed?," Macro Bulletin, Federal Reserve Bank of Kansas City, pages 3-4, September.
    22. Michael T. Kiley, 2018. "Quantitative Easing and the “New Normal” in Monetary Policy," Finance and Economics Discussion Series 2018-004, Board of Governors of the Federal Reserve System (U.S.).
    23. Gomis-Porqueras Pedro & Rafiq Shuddhasattwa & Yao Wenying, 2023. "The impact of forward guidance and large-scale asset purchase programs on commodity markets," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 27(4), pages 519-551, September.
    24. Claus, Edda & Claus, Iris & Krippner, Leo, 2018. "Asset market responses to conventional and unconventional monetary policy shocks in the United States," Journal of Banking & Finance, Elsevier, vol. 97(C), pages 270-282.
    25. Boudt, Kris & Neely, Christopher J. & Sercu, Piet & Wauters, Marjan, 2019. "The response of multinationals’ foreign exchange rate exposure to macroeconomic news," Journal of International Money and Finance, Elsevier, vol. 94(C), pages 32-47.
    26. Rünstler, Gerhard & Balfoussia, Hiona & Burlon, Lorenzo & Buss, Ginters & Comunale, Mariarosaria & De Backer, Bruno & Dewachter, Hans & Guarda, Paolo & Haavio, Markus & Hindrayanto, Irma & Iskrev, Nik, 2018. "Real and financial cycles in EU countries - Stylised facts and modelling implications," Occasional Paper Series 205, European Central Bank.
    27. Edda Claus & Iris Claus & Leo Krippner, 2016. "Monetary Policy Spillovers across the Pacific when Interest Rates Are at the Zero Lower Bound," Asian Economic Papers, MIT Press, vol. 15(3), pages 1-27, Fall.
    28. Sophocles N. Brissimis & Evangelia A. Georgiou, 2022. "The effects of Federal Reserve's quantitative easing and balance sheet normalization policies on long-term interest rates," Working Papers 299, Bank of Greece.
    29. Riyad Abubaker, 2016. "Consumption and Money Uncertainty at the Zero Lower Bound," Economics Bulletin, AccessEcon, vol. 36(1), pages 449-463.
    30. Mariarosaria Comunale, 2020. "New synchronicity indices between real and financial cycles: Is there any link to structural characteristics and recessions in European Union countries?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 25(4), pages 617-641, October.
    31. Imran Shah & Francesca Schmidt-Fischer & Issam Malki, 2018. "The portfolio balance channel: an analysis on the impact of quantitative easing on the US stock market," Department of Economics Working Papers 74/18, University of Bath, Department of Economics.
    32. Donggyu Lee, 2024. "Quantitative Easing and Inequality," Staff Reports 1108, Federal Reserve Bank of New York.
    33. Mario González & Raúl Tadle, 2018. "Monetary Policy Effects on the Chilean Stock Market: An Automated Content Approach," Working Papers Central Bank of Chile 817, Central Bank of Chile.
    34. Ábel, István, 2015. "A monetáris politika globális tendenciái és a stabilitási kockázatok [Financial stability concerns and global exposure of monetary policy]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 284-304.

  25. Michael T. Kiley, 2013. "Exchange rates, monetary policy statements, and uncovered interest parity: before and after the zero lower bound," Finance and Economics Discussion Series 2013-17, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Anella Munro, 2014. "Exchange rates, expected returns and risk: UIP unbound," CAMA Working Papers 2014-73, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    2. Forti Grazzini, Caterina & Rieth, Malte, 2017. "Interest Rates and Exchange Rates in Normal and Crisis Times," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168281, Verein für Socialpolitik / German Economic Association.
    3. Federico J. Diez & Ignacio Presno, 2013. "Domestic and foreign announcements on unconventional monetary policy and exchange rates," Public Policy Brief, Federal Reserve Bank of Boston.

  26. Michael T. Kiley, 2012. "The aggregate demand effects of short- and long-term interest rates," Finance and Economics Discussion Series 2012-54, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Jonathan Benchimol & Sergey Ivashchenko, 2020. "Switching Volatility in a Nonlinear Open Economy," Bank of Israel Working Papers 2020.04, Bank of Israel.
    2. Ireland, Peter N., 2015. "Monetary policy, bond risk premia, and the economy," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 124-140.
    3. Michael T. Kiley, 2020. "Pandemic Recession Dynamics: The Role of Monetary Policy in Shifting a U-Shaped Recession to a V-Shaped Rebound," Finance and Economics Discussion Series 2020-083, Board of Governors of the Federal Reserve System (U.S.).
    4. Etienne Vaccaro-Grange, 2019. "Quantitative Easing and the Term Premium as a Monetary Policy Instrument," Working Papers halshs-02359503, HAL.
    5. Guangye Cao & Taeyoung Doh & Daniel Molling, 2015. "Should monetary policy monitor risk premiums in financial markets?," Macro Bulletin, Federal Reserve Bank of Kansas City, pages 1-2, February.
    6. John C. Williams, 2013. "A Defense of Moderation in Monetary Policy," Working Paper Series 2013-15, Federal Reserve Bank of San Francisco.
    7. Grzegorz Wesoƚowski, 2018. "Do long-term interest rates drive GDP and inflation in small open economies? Evidence from Poland," Applied Economics, Taylor & Francis Journals, vol. 50(57), pages 6174-6192, December.
    8. Charles Evans & Jonas Fisher & Francois Gourio & Spencer Krane, 2015. "Risk Management for Monetary Policy Near the Zero Lower Bound," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(1 (Spring), pages 141-219.
    9. Michael T. Kiley, 2014. "The Response of Equity Prices to Movements in Long‐Term Interest Rates Associated with Monetary Policy Statements: Before and After the Zero Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(5), pages 1057-1071, August.
    10. Hibiki Ichiue & Yoichi Ueno, 2018. "A Survey-based Shadow Rate and Unconventional Monetary Policy Effects," IMES Discussion Paper Series 18-E-05, Institute for Monetary and Economic Studies, Bank of Japan.
    11. Ben S. Bernanke, 2012. "Monetary Policy since the Onset of the Crisis : a speech at the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming, August 31, 2012," Speech 645, Board of Governors of the Federal Reserve System (U.S.).
    12. Rasmus Fatum & Naoko Hara & Yohei Yamamoto, 2019. "Negative Interest Rate Policy and the Influence of Macroeconomic News on Yields," IMES Discussion Paper Series 19-E-02, Institute for Monetary and Economic Studies, Bank of Japan.
    13. Hsu, Feng-Jui & Chen, Sheng-Hung, 2021. "US quantitative easing and firm’s default risk: The role of Corporate Social Responsibility (CSR)," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 650-664.
    14. Masazumi Hattori & Andreas Schrimpf & Vladyslav Sushko, 2016. "The Response of Tail Risk Perceptions to Unconventional Monetary Policy," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(2), pages 111-136, April.
    15. Kiley, Michael T., 2016. "Monetary policy statements, treasury yields, and private yields: Before and after the zero lower bound," Finance Research Letters, Elsevier, vol. 18(C), pages 285-290.
    16. Nathan Sussman & Osnat Zohar, 2016. "Has Inflation Targeting Become Less Credible? Oil Prices, Global Aggregate Demand and Inflation Expectations during the Global Financial Crisis," Bank of Israel Working Papers 2016.13, Bank of Israel.
    17. Hess Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2020. "Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve’s Current Policy Toolkit," CARF F-Series CARF-F-483, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    18. Ben S. Bernanke, 2012. "Opening remarks: monetary policy since the onset of the crisis," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 1-22.
    19. Michael T. Kiley, 2015. "What Can the Data Tell Us About the Equilibrium Real Interest Rate?," Finance and Economics Discussion Series 2015-77, Board of Governors of the Federal Reserve System (U.S.).
    20. Kolasa, Marcin & Wesołowski, Grzegorz, 2020. "International spillovers of quantitative easing," Journal of International Economics, Elsevier, vol. 126(C).
    21. Moessner, Richhild, 2015. "Reactions of US government bond yields to explicit FOMC forward guidance," The North American Journal of Economics and Finance, Elsevier, vol. 33(C), pages 217-233.
    22. Michael T. Kiley, 2013. "Exchange rates, monetary policy statements, and uncovered interest parity: before and after the zero lower bound," Finance and Economics Discussion Series 2013-17, Board of Governors of the Federal Reserve System (U.S.).
    23. Michael T. Kiley, 2018. "Quantitative Easing and the “New Normal” in Monetary Policy," Finance and Economics Discussion Series 2018-004, Board of Governors of the Federal Reserve System (U.S.).
    24. Putnam, Bluford H., 2013. "Essential concepts necessary to consider when evaluating the efficacy of quantitative easing," Review of Financial Economics, Elsevier, vol. 22(1), pages 1-7.
    25. Hess T. Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2019. "Monetary Policy Options at the Effective Lower Bound : Assessing the Federal Reserve's Current Policy Toolkit," Finance and Economics Discussion Series 2019-003, Board of Governors of the Federal Reserve System (U.S.).
    26. Kapur, Muneesh, 2018. "Macroeconomic Policies and Transmission Dynamics in India," MPRA Paper 88566, University Library of Munich, Germany.
    27. Bank for International Settlements, 2019. "Unconventional monetary policy tools: a cross-country analysis," CGFS Papers, Bank for International Settlements, number 63.
    28. Kimura Takeshi & Nakajima Jouchi, 2016. "Identifying conventional and unconventional monetary policy shocks: a latent threshold approach," The B.E. Journal of Macroeconomics, De Gruyter, vol. 16(1), pages 277-300, January.
    29. David L. Reifschneider, 2016. "Gauging the Ability of the FOMC to Respond to Future Recessions," Finance and Economics Discussion Series 2016-068, Board of Governors of the Federal Reserve System (U.S.).
    30. Kenneth N. Kuttner, 2018. "Outside the Box: Unconventional Monetary Policy in the Great Recession and Beyond," Department of Economics Working Papers 2018-04, Department of Economics, Williams College.
    31. Rubio, Margarita, 2016. "Short and long-term interest rates and the effectiveness of monetary and macroprudential policies," Journal of Macroeconomics, Elsevier, vol. 47(PA), pages 103-115.

  27. Michael T. Kiley & Jae W. Sim, 2011. "Financial capital and the macroeconomy: policy considerations," Finance and Economics Discussion Series 2011-28, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Kiley, Michael T. & Sim, Jae W., 2014. "Bank capital and the macroeconomy: Policy considerations," Journal of Economic Dynamics and Control, Elsevier, vol. 43(C), pages 175-198.
    2. James A. Clouse, 2013. "Monetary policy and financial stability risks: an example," Finance and Economics Discussion Series 2013-41, Board of Governors of the Federal Reserve System (U.S.).

  28. Michael T. Kiley & Jae W. Sim, 2011. "Financial capital and the macroeconomy: a quantitative framework," Finance and Economics Discussion Series 2011-27, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Matteo Iacoviello, 2010. "Financial Business Cycles," 2010 Meeting Papers 1053, Society for Economic Dynamics.
    2. Bank for International Settlements, 2012. "Operationalising the selection and application of macroprudential instruments," CGFS Papers, Bank for International Settlements, number 48.
    3. Seung Jung Lee & Viktors Stebunovs, 2016. "Bank Capital Pressures, Loan Substitutability, and Nonfinancial Employment," International Finance Discussion Papers 1161, Board of Governors of the Federal Reserve System (U.S.).
    4. Seung Jung Lee & Viktors Stebunovs, 2012. "Bank capital ratios and the structure of nonfinancial industries," Finance and Economics Discussion Series 2012-53, Board of Governors of the Federal Reserve System (U.S.).
    5. Kiley, Michael T. & Sim, Jae W., 2014. "Bank capital and the macroeconomy: Policy considerations," Journal of Economic Dynamics and Control, Elsevier, vol. 43(C), pages 175-198.
    6. Tobias Adrian, 2012. "Discussion of “An Integrated Framework for Multiple Financial Regulations”," Staff Reports 583, Federal Reserve Bank of New York.

  29. Jean Boivin & Michael T. Kiley & Frederic S. Mishkin, 2010. "How has the monetary transmission mechanism evolved over time?," Finance and Economics Discussion Series 2010-26, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Joanna Stawska & Katarzyna Miszczyńska, 2017. "The Impact of the European Central Bank’s Interest Rates on Investments in the Euro Area," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5, pages 51-72.
    2. Tomas Konecny & Oxana Babecka-Kucharcukova, 2016. "Credit Spreads and the Links between the Financial and Real Sectors in a Small Open Economy: The Case of the Czech Republic," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 66(4), pages 302-321, August.
    3. Julius Stakenas & Rasa Stasiukynaite, 2016. "Monetary policy transmission: the case of Lithuania," Bank of Lithuania Working Paper Series 24, Bank of Lithuania.
    4. Patrick A. Imam, 2015. "Shock from Graying: Is the Demographic Shift Weakening Monetary Policy Effectiveness," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 20(2), pages 138-154, March.
    5. Bailey, Andrew & Bridges, Jonathan & Harrison, Richard & Jones, Josh & Mankodi, Aakash, 2020. "The central bank balance sheet as a policy tool: past, present and future," Bank of England working papers 899, Bank of England.
    6. Bucher, Monika & Hauck, Achim & Neyer, Ulrike, 2014. "Frictions in the interbank market and uncertain liquidity needs: Implications for monetary policy implementation," DICE Discussion Papers 134 [rev.], Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    7. Itamar Drechsler & Alexi Savov & Philipp Schnabl, 2021. "Banking on Deposits: Maturity Transformation without Interest Rate Risk," Journal of Finance, American Finance Association, vol. 76(3), pages 1091-1143, June.
    8. Fabian Lindner, 2014. "The Interaction of Mortgage Credit and Housing Prices in the US," IMK Working Paper 133-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    9. Cécile Bastidon, 2013. "Un modèle théorique d'intermédiation : transmission et gestion des chocs," Post-Print hal-00806524, HAL.
    10. Simon Beyeler & Sylvia Kaufmann, 2016. "Factor augmented VAR revisited - A sparse dynamic factor model approach," Working Papers 16.08, Swiss National Bank, Study Center Gerzensee.
    11. Guangye Cao & Jonathan L. Willis, 2015. "Has the U.S. economy become less interest rate sensitive?," Macro Bulletin, Federal Reserve Bank of Kansas City, pages 1-3, July.
    12. Harry Aginta & Masakazu Someya, 2022. "Regional economic structure and heterogeneous effects of monetary policy: evidence from Indonesian provinces," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 11(1), pages 1-25, December.
    13. Luís Aguiar-Conraria & Manuel M. F. Martins & Maria Joana Soares, 2019. "The Phillips Curve at 60: time for time and frequency," CEF.UP Working Papers 1902, Universidade do Porto, Faculdade de Economia do Porto.
    14. Ricco, Giovanni & Miranda-Agrippino, Silvia, 2018. "The Transmission of Monetary Policy Shocks," CEPR Discussion Papers 13396, C.E.P.R. Discussion Papers.
    15. Richard H. Clarida, 2019. "The Federal Reserve's Review of Its Monetary Policy Strategy, Tools, and Communication Practices : a speech the 2019 U.S. Monetary Policy Forum, sponsored by the Initiative on Global Markets at the Un," Speech 1038, Board of Governors of the Federal Reserve System (U.S.).
    16. Luigi Paciello, 2011. "Does Inflation Adjust Faster to Aggregate Technology Shocks than to Monetary Policy Shocks?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(8), pages 1663-1684, December.
    17. Martin Feldkircher & Florian Huber, 2016. "Unconventional US Monetary Policy: New Tools, Same Channels?," Department of Economics Working Papers wuwp222, Vienna University of Economics and Business, Department of Economics.
    18. Giacomo Rella, 2021. "The Fed, housing and household debt over time," Department of Economics University of Siena 850, Department of Economics, University of Siena.
    19. Marcellino, Massimiliano & Galvão, Ana Beatriz, 2010. "Endogenous Monetary Policy Regimes and the Great Moderation," CEPR Discussion Papers 7827, C.E.P.R. Discussion Papers.
    20. Ms. Aleksandra Zdzienicka & Ms. Sally Chen & Federico Diaz Kalan & Stefan Laseen & Katsiaryna Svirydzenka, 2015. "Effects of Monetary and Macroprudential Policies on Financial Conditions: Evidence from the United States," IMF Working Papers 2015/288, International Monetary Fund.
    21. Giovanni Dosi & Giorgio Fagiolo & Mauro Napoletano & Andrea Roventini & Tania Treibich, 2014. "Fiscal and monetary policies in complex evolving economies," Working Papers hal-03460560, HAL.
    22. Ács, Attila, 2014. "Pénzintézeti mérlegadatok monetáris politikai újraértelmezése. A brókerkereskedő szervezetek reálgazdasági és likviditási jelentősége [Reconsidering the role of financial institutions balance sheet," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 166-192.
    23. I. Arnold & C.J.M. Kool & K. Raabe, 2011. "Industry Effects of Bank Lending in Germany," Working Papers 11-21, Utrecht School of Economics.
    24. Champagne, Julien & Sekkel, Rodrigo, 2018. "Changes in monetary regimes and the identification of monetary policy shocks: Narrative evidence from Canada," Journal of Monetary Economics, Elsevier, vol. 99(C), pages 72-87.
    25. Richard H. Clarida, 2019. "The Federal Reserve’s Review of Its Monetary Policy Strategy, Tools, and Communication Practices : A speech at \"New England Perspectives on Fed Policymaking: A 'Fed Listens' Conference\" ho," Speech 1063, Board of Governors of the Federal Reserve System (U.S.).
    26. de la Horra, Luis P. & Perote, Javier & de la Fuente, Gabriel, 2021. "Monetary policy and corporate investment: A panel-data analysis of transmission mechanisms in contexts of high uncertainty," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 609-624.
    27. Gabriel Jimenez & Steven Ongena & Jose-Luis Peydro & Jesus Saurina, 2012. "Credit Supply and Monetary Policy: Identifying the Bank Balance-Sheet Channel with Loan Applications," American Economic Review, American Economic Association, vol. 102(5), pages 2301-2326, August.
    28. Ciccarelli, Matteo & Maddaloni, Angela & Peydró, José-Luis, 2010. "Trusting the bankers: a new look at the credit channel of monetary policy," Working Paper Series 1228, European Central Bank.
    29. Nektarios A. Michail & Demetris Koursaros & Christos S. Savva, 2016. "The Lack of Persistence of Interest Rate Changes on Banks’ Lending and Risk Taking Behaviour," Working Papers 2016-1, Central Bank of Cyprus.
    30. Ana Esther Castro & José Francisco Teixeira, 2014. "The Formation of New Monetary Policies: Decisions of Central Banks on the Great Recession," Economies, MDPI, vol. 2(2), pages 1-15, May.
    31. Michael D. Evans & Trevor Chamberlain, 2014. "Measuring the Effects of Monetary and Fiscal Policy Changes on the U.S. Economy (1982-2012)," Review of Economics & Finance, Better Advances Press, Canada, vol. 4, pages 1-14, May.
    32. Stephanos Papadamou & Moïse Sidiropoulos & Eleftherios Spyromitros, 2015. "Central bank transparency and the interest rate channel : Evidence from emerging economies," Post-Print hal-03692248, HAL.
    33. Kiley, Michael T., 2015. "An evaluation of the inflationary pressure associated with short- and long-term unemployment," Economics Letters, Elsevier, vol. 137(C), pages 5-9.
    34. Pontus Braunerhjelm, 2022. "Rethinking stabilization policies; Including supply-side measures and entrepreneurial processes," Small Business Economics, Springer, vol. 58(2), pages 963-983, February.
    35. Armendáriz Villarreal Thelma & Ramírez Claudia, 2015. "Estimation of a Financial Conditions Index for Mexico," Working Papers 2015-17, Banco de México.
    36. OLTEANU, Dan, 2015. "Monetary Policy Effectiveness In Stimulating The Cees Credit Recovery," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 19(3), pages 8-24.
    37. Ahnert, Toni & Anand, Kartik & Koenig, Philipp, 2023. "Real Interest Rates, Bank Borrowing, and Fragility," CEPR Discussion Papers 17793, C.E.P.R. Discussion Papers.
    38. Jesús Crespo Cuaresma & Gernot Doppelhofer & Martin Feldkircher & Florian Huber, 2019. "Spillovers from US monetary policy: evidence from a time varying parameter global vector auto‐regressive model," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 182(3), pages 831-861, June.
    39. Andreas Beyer & Benoît Coeuré & Caterina Mendicino, 2017. "Foreword – The crisis, ten years after: Lessons learnt for monetary and financial research," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 494-495-4, pages 45-64.
    40. Refet S. Gürkaynak & Hatice Gökce Karasoy-Can & Sang Seok Lee, 2019. "Stock Market's Assessment of Monetary Policy Transmission: The Cash Flow Effect," CESifo Working Paper Series 7898, CESifo.
    41. Hamza, Hichem & Saadaoui, Zied, 2018. "Monetary transmission through the debt financing channel of Islamic banks: Does PSIA play a role?," Research in International Business and Finance, Elsevier, vol. 45(C), pages 557-570.
    42. Castelnuovo, Efrem, 2016. "Modest macroeconomic effects of monetary policy shocks during the great moderation: An alternative interpretation," Journal of Macroeconomics, Elsevier, vol. 47(PB), pages 300-314.
    43. Hauzenberger, Niko & Pfarrhofer, Michael & Stelzer, Anna, 2021. "On the effectiveness of the European Central Bank’s conventional and unconventional policies under uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 822-845.
    44. Neil Bhutta & Daniel R. Ringo, 2017. "The Effect of Interest Rates on Home Buying : Evidence from a Discontinuity in Mortgage Insurance Premiums," Finance and Economics Discussion Series 2017-086, Board of Governors of the Federal Reserve System (U.S.).
    45. Tobias Adrian & Nina Boyarchenko & Domenico Giannone, 2016. "Vulnerable growth," Staff Reports 794, Federal Reserve Bank of New York.
    46. Hess Chung & Edward Herbst & Michael T. Kiley, 2014. "Effective Monetary Policy Strategies in New Keynesian Models: A Re-examination," NBER Working Papers 20611, National Bureau of Economic Research, Inc.
    47. Nizar El Ouni & Faouzi Miled & Manelle Lahdhiri, 2014. "Disconnection between the Financial Sphere and the Real Sphere: Theoretical Foundations and Empirical Investigation," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(4), pages 95-103, October.
    48. Dario Caldara & Etienne Gagnon & Enrique Martínez García & Christopher J. Neely, 2020. "Monetary Policy and Economic Performance since the Financial Crisis," Finance and Economics Discussion Series 2020-065, Board of Governors of the Federal Reserve System (U.S.).
    49. Michael T. Kiley, 2014. "Policy Paradoxes in the New Keynesian Model," Finance and Economics Discussion Series 2014-29, Board of Governors of the Federal Reserve System (U.S.).
    50. Fabrice Dabiré, 2022. "Forward guidance and the exchange rate: A theoretical sign restricted VAR analysis," Cahiers de recherche 22-03, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    51. Stijn Claessens & M. Ayhan Kose & Marco E. Terrones, 2011. "Financial Cycles: What? How? When?," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 7(1), pages 303-344.
    52. Firmin Doko Tchatoka & Qazi Haque, 2024. "Revisiting the Macroeconomic Effects of Monetary Policy Shocks," The Economic Record, The Economic Society of Australia, vol. 100(329), pages 234-259, June.
    53. Mark Gertler & Peter Karadi, 2014. "Monetary Policy Surprises, Credit Costs and Economic Activity," NBER Working Papers 20224, National Bureau of Economic Research, Inc.
    54. Carlos Arteta & M. Ayhan Kose & Marc Stocker & Temel Taskin, 2016. "Negative Interest Rate Policies: Sources and Implications," Koç University-TUSIAD Economic Research Forum Working Papers 1609, Koc University-TUSIAD Economic Research Forum.
    55. Nicolas Crouzet, 2021. "Credit Disintermediation and Monetary Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(1), pages 23-89, March.
    56. Hommes, Cars & Makarewicz, Tomasz, 2021. "Price level versus inflation targeting under heterogeneous expectations: a laboratory experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 182(C), pages 39-82.
    57. Agnès Bénassy-Quéré & Matthieu Bussière & Pauline Wibaux, 2018. "Trade and currency weapons," Working Papers 2018-08, CEPII research center.
    58. Schnabl, Philipp & Savov, Alexi & Drechsler, Itamar, 2018. "Banking on Deposits: Maturity Transformation without Interest Rate Risk," CEPR Discussion Papers 12950, C.E.P.R. Discussion Papers.
    59. Michael T. Kiley, 2014. "The Aggregate Demand Effects of Short- and Long-Term Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 10(4), pages 69-104, December.
    60. Patrick, Chileshe M. & Akanbi, Olusegun Ayodele, 2017. "The Relative Importance of the Channels of Monetary Policy Transmission in a Developing Country: The Case of Zambia," African Journal of Economic Review, African Journal of Economic Review, vol. 5(2), July.
    61. Iulian Popescu, 2012. "Effects Of Monetary Policy In Romania - A Var Approach," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4(3a), pages 605-624, September.
    62. Li, Huan & Ni, Jinlan & Xu, Yueli & Zhan, Minghua, 2021. "Monetary policy and its transmission channels: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    63. de la Horra, Luis P. & Perote, Javier & de la Fuente, Gabriel, 2022. "The impact of economic policy uncertainty and monetary policy on R&D investment: An option pricing approach," Economics Letters, Elsevier, vol. 214(C).
    64. Irfan Akbar Kazi & Hakimzadi Wagan & Farhan Akbar, 2012. "The changing international transmission of US monetary policy shocks: is there evidence of contagion effect on OECD countries," EconomiX Working Papers 2012-27, University of Paris Nanterre, EconomiX.
    65. Edward Herbst & Dario Caldara, 2015. "Monetary Policy, Credit Spreads, and Business Cycle Fluctuations," 2015 Meeting Papers 899, Society for Economic Dynamics.
    66. Yu Hsing, 2013. "Test of the Bank Lending Channel: The Case of Australia," Economics Bulletin, AccessEcon, vol. 33(4), pages 2575-2582.
    67. Jose E. Gomez-Gonzalez & Ali M. Kutan & Jair N. Ojeda-Joya & María Camila Ortiz, 2016. "The Bank Lending Channel of Monetary Policy: Does the Financial Structure of Banks Matter," Borradores de Economia 953, Banco de la Republica de Colombia.
    68. Richard H. Clarida, 2019. "Sustaining Maximum Employment and Price Stability : a speech at the Economic Club of New York, New York, New York, May 30, 2019," Speech 1067, Board of Governors of the Federal Reserve System (U.S.).
    69. Alessandro Barattieri & Maya Eden & Dalibor Stevanovic, 2013. "The Connection between Wall Street and Main Street: Measurement and Implications for Monetary Policy," CIRANO Working Papers 2013s-31, CIRANO.
    70. Tuan Anh Phan, 2014. "Output Composition of the Monetary Policy Transmission Mechanism: Is Australia Different?," Crawford School Research Papers 1403, Crawford School of Public Policy, The Australian National University.
    71. van Holle, Frederiek, 2017. "Essays in empirical finance and monetary policy," Other publications TiSEM 30d11a4b-7bc9-4c81-ad24-5, Tilburg University, School of Economics and Management.
    72. Hwang, Sunjoo, 2020. "Impact of a policy rate cut on bank profitability and financial stability," KDI Policy Forum 280, Korea Development Institute (KDI).
    73. Li, Boyao, 2024. "A balance sheet analysis of monetary policy effects on banks," MPRA Paper 120882, University Library of Munich, Germany.
    74. Popescu, Iulia Vasile, 2012. "Effects of monetary policy in Romania. A VAR approach," MPRA Paper 41686, University Library of Munich, Germany.
    75. Florian Heider & Farzad Saidi & Glenn Schepens, 2021. "Banks and Negative Interest Rates," Annual Review of Financial Economics, Annual Reviews, vol. 13(1), pages 201-218, November.
    76. Sandström, Maria, 2018. "The impact of monetary policy on household borrowing - a high-frequency IV identification," Working Paper Series 351, Sveriges Riksbank (Central Bank of Sweden).
    77. Li, Boyao, 2024. "A balance sheet analysis of monetary policy effects on banks," Global Finance Journal, Elsevier, vol. 61(C).
    78. Banegas, Ayelen & Montes-Rojas, Gabriel & Siga, Lucas, 2022. "The effects of U.S. monetary policy shocks on mutual fund investing," Journal of International Money and Finance, Elsevier, vol. 123(C).
    79. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    80. Pacicco, Fausto & Serati, Massimiliano & Venegoni, Andrea, 2022. "The Euro Area credit crunch conundrum: Was it demand or supply driven?," Economic Modelling, Elsevier, vol. 106(C).
    81. Priit Jeenas & Ricardo Lagos, 2024. "Q-Monetary Transmission," Journal of Political Economy, University of Chicago Press, vol. 132(3), pages 971-1012.
    82. Ongena, Steven & Peydró, José-Luis & Jiménez, Gabriel & Saurina, Jesús, 2010. "Credit Supply: Identifying Balance-Sheet Channels with Loan Applications and Granted Loans," CEPR Discussion Papers 7655, C.E.P.R. Discussion Papers.
    83. Michael T. Kiley, 2014. "The Response of Equity Prices to Movements in Long‐Term Interest Rates Associated with Monetary Policy Statements: Before and After the Zero Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(5), pages 1057-1071, August.
    84. Çatık, A. Nazif & Martin, Christopher, 2012. "Macroeconomic transitions and the transmission mechanism: Evidence from Turkey," Economic Modelling, Elsevier, vol. 29(4), pages 1440-1449.
    85. Boris Hofmann & Gert Peersman, 2017. "Monetary Policy Transmission And Trade-Offs In The United States: Old And New," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 17/940, Ghent University, Faculty of Economics and Business Administration.
    86. Kiley, Michael T. & Sim, Jae, 2017. "Optimal monetary and macroprudential policies: Gains and pitfalls in a model of financial intermediation," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 232-259.
    87. Knut Are Aastveit & Gisle James Natvik & Sergio Sola, 2013. "Economic uncertainty and the effectiveness of monetary policy," Working Paper 2013/17, Norges Bank.
    88. Florian Heider & Farzad Saidi & Glenn Schepens, 2019. "Life below Zero: Bank Lending under Negative Policy Rates," The Review of Financial Studies, Society for Financial Studies, vol. 32(10), pages 3728-3761.
    89. Eickmeier, Sandra & Hofmann, Boris, 2013. "Monetary Policy, Housing Booms, And Financial (Im)Balances," Macroeconomic Dynamics, Cambridge University Press, vol. 17(4), pages 830-860, June.
    90. Vito Polito & Yunyi Zhang, 2021. "Tackling Large Outliers in Macroeconomic Data with Vector Artificial Neural Network Autoregression," CESifo Working Paper Series 9395, CESifo.
    91. Martina Cecioni & Stefano Neri, 2011. "The monetary transmission mechanism in the euro area: has it changed and why?," Temi di discussione (Economic working papers) 808, Bank of Italy, Economic Research and International Relations Area.
    92. Yang, Jun & Shao, Hanhua, 2016. "Impact of bank competition on the bank lending channel of monetary transmission: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 43(C), pages 468-481.
    93. Chevallier, Julien, 2011. "Macroeconomics, finance, commodities: Interactions with carbon markets in a data-rich model," Economic Modelling, Elsevier, vol. 28(1), pages 557-567.
    94. Kose, M. Ayhan & Claessens, Stijn, 2017. "Asset Prices and Macroeconomic Outcomes: A Survey," CEPR Discussion Papers 12460, C.E.P.R. Discussion Papers.
    95. Malik Qasim KHASAWNEH, 2015. "The Impact of Monetary policy on Consumption and Investment in Jordan during (1989-2013)," Journal of Economics Library, KSP Journals, vol. 2(3), pages 155-164, September.
    96. Norhana Endut & James Morley & Pao-Lin Tien, 2015. "The Changing Transmission Mechanism of U.S. Monetary Policy," Discussion Papers 2015-03, School of Economics, The University of New South Wales.
    97. Gabriel A. Gim�nez Roche & Albert Lwango & Guillaume Vuillemey, 2015. "Entrepreneurial Miscalculation and Business Cycles: How Interest Rate Targeting Distorts Capital Budgeting," Review of Political Economy, Taylor & Francis Journals, vol. 27(4), pages 624-644, October.
    98. Yuan Chang, 2016. "Financial Soundness Indicator, Financial Cycle, Credit Cycle and Business Cycle£­Evidence from Taiwan," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(4), pages 166-182, April.
    99. Marco Bottone & Alfonso Rosolia, 2019. "Monetary policy, firms’ inflation expectations and prices: causal evidence from firm-level data," Temi di discussione (Economic working papers) 1218, Bank of Italy, Economic Research and International Relations Area.
    100. Villa Stefania, 2012. "Capital Utilization and the Amplification Mechanism," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(1), pages 1-22, September.
    101. Goodness C. Aye & Mehmet Balcilar & Rangan Gupta, 2016. "The Effectiveness of Monetary Policy in South Africa under Inflation Targeting: Evidence from a Time-Varying Factor-Augmented Vector Autoregressive Model," Working Papers 201653, University of Pretoria, Department of Economics.
    102. Kontonikas, A & Maio, P & Zekaite, Z, 2017. "Monetary Policy and Corporate Bond Returns," Essex Finance Centre Working Papers 20571, University of Essex, Essex Business School.
    103. Kiley, Michael T., 2016. "Monetary policy statements, treasury yields, and private yields: Before and after the zero lower bound," Finance Research Letters, Elsevier, vol. 18(C), pages 285-290.
    104. Philip Turner, 2016. "Macroprudential policies, the long-term interest rate and the exchange rate," BIS Working Papers 588, Bank for International Settlements.
    105. Jamilov, Rustam, 2012. "Channels of Monetary Transmission in the CIS," MPRA Paper 39568, University Library of Munich, Germany.
    106. Magdalena Erdem & Kostas Tsatsaronis, 2013. "Financial conditions and economic activity: a statistical approach," BIS Quarterly Review, Bank for International Settlements, March.
    107. Crespo Cuaresma, Jesus & Doppelhofer, Gernot & Feldkircher, Martin & Huber, Florian, 2018. "Spillovers from US monetary policy: Evidence from a time-varying parameter GVAR model," Discussion Paper Series in Economics 31/2018, Norwegian School of Economics, Department of Economics.
    108. Rongrong Sun, 2018. "Requiem for the Interest-Rate Controls in China," CFDS Discussion Paper Series 2018/4, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    109. Sangyong Joo & Daehwan Kim & Jeffrey Nilsen, 2021. "Monetary Policy and Long-Term Interest Rates in Korea: A Decomposition Analysis," Korean Economic Review, Korean Economic Association, vol. 37, pages 327-366.
    110. John W. Keating & Logan J. Kelly & A. Lee Smith & Victor J. Valcarcel, 2019. "A Model of Monetary Policy Shocks for Financial Crises and Normal Conditions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(1), pages 227-259, February.
    111. Yifei Wang & Toni M. Whited & Yufeng Wu & Kairong Xiao, 2022. "Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation," Journal of Finance, American Finance Association, vol. 77(4), pages 2093-2141, August.
    112. Neil Bhutta & Benjamin J. Keys, 2016. "Interest Rates and Equity Extraction during the Housing Boom," American Economic Review, American Economic Association, vol. 106(7), pages 1742-1774, July.
    113. Ali Mna & Hadda Kilani, 2023. "A monetary policy reaction function through Taylor rule vision: evidence from Tunisia," SN Business & Economics, Springer, vol. 3(8), pages 1-18, August.
    114. Oleksiy Kryvtsov & Luba Petersen, 2013. "Expectations and Monetary Policy: Experimental Evidence," Discussion Papers dp13-09, Department of Economics, Simon Fraser University.
    115. Hélène Rey, 2016. "International Channels of Transmission of Monetary Policy and the Mundellian Trilemma," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 64(1), pages 6-35, May.
    116. Pym Manopimoke, 2016. "The Output Euler Equation and Real Interest Rate Regimes," PIER Discussion Papers 33, Puey Ungphakorn Institute for Economic Research.
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    249. Kiss, Gábor Dávid & Kovács, György & Varga, János Zoltán, 2016. "Várakozások és a monetáris politika - különös tekintettel a magyarországi gyakorlatra [Expectations and monetary policy, with special attention to practice in Hungary]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 1192-1216.
    250. Johannes PS Sheefeni, 2017. "Monetary Policy Transmission Mechanism in Namibia: A Bayesian VAR Approach," Journal of Economics and Behavioral Studies, AMH International, vol. 9(5), pages 169-184.
    251. Efrem Castelnuovo, 2013. "What does a Monetary Policy Shock Do? An International Analysis with Multiple Filters," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 75(5), pages 759-784, October.
    252. David L. Reifschneider, 2016. "Gauging the Ability of the FOMC to Respond to Future Recessions," Finance and Economics Discussion Series 2016-068, Board of Governors of the Federal Reserve System (U.S.).
    253. Sophocles N. Brissimis & Michalis-Panayiotis Papafilis, 2022. "The credit channel of monetary transmission in the US: Is it a bank lending channel, a balance sheet channel, or both, or neither?," Working Papers 300, Bank of Greece.
    254. Cantero-Saiz, Maria & Sanfilippo-Azofra, Sergio & Torre-Olmo, Begoña & López-Gutiérrez, Carlos, 2014. "Sovereign risk and the bank lending channel in Europe," Journal of International Money and Finance, Elsevier, vol. 47(C), pages 1-20.
    255. Holmberg, Karolina, 2013. "Firm-Level Evidence of Shifts in the Supply of Credit," Working Paper Series 280, Sveriges Riksbank (Central Bank of Sweden).
    256. Christoffer Koch, 2014. "Deposit interest rate ceilings as credit supply shifters: bank level evidence on the effects of Regulation Q," Working Papers 1406, Federal Reserve Bank of Dallas.
    257. Zare, Roohollah, 2016. "House Price Rigidity and the Asymmetric Response of Housing Prices to Monetary Policy in Iran," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 11(4), pages 401-417, October.
    258. Sandra Eickmeier & Wolfgang Lemke & Massimiliano Marcellino, 2015. "Classical time varying factor-augmented vector auto-regressive models—estimation, forecasting and structural analysis," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 178(3), pages 493-533, June.
    259. Willem Van Zandweghe, 2015. "Monetary Policy Shocks and Aggregate Supply," Economic Review, Federal Reserve Bank of Kansas City, issue Q III, pages 31-56.
    260. Juan S. Holguín & Jorge M. Uribe, 2020. "The credit supply channel of monetary policy: evidence from a FAVAR model with sign restrictions," Empirical Economics, Springer, vol. 59(5), pages 2443-2472, November.
    261. Raputsoane, Leroi, 2018. "Monetary policy reaction function pre and post the global financial crisis," MPRA Paper 84866, University Library of Munich, Germany.
    262. Awdeh Ali, 2018. "Long-run and Short-run Monetary Policy Transmission Channels in Lebanon," Review of Middle East Economics and Finance, De Gruyter, vol. 14(1), pages 1-26, April.
    263. Ábel, István, 2015. "A monetáris politika globális tendenciái és a stabilitási kockázatok [Financial stability concerns and global exposure of monetary policy]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 284-304.
    264. Ngozi Frances Obafemi & Eugene Okoi Ifere, 2015. "Monetary Policy Transmission Mechanism in Nigeria: A Comparative Analysis," Research in World Economy, Research in World Economy, Sciedu Press, vol. 6(4), pages 93-103, December.
    265. Randal K. Quarles, 2019. "Monetary Policy and Financial Stability : a speech at \"Developments in Empirical Macroeconomics,\" a research conference sponsored by the Federal Reserve Board and the Federal Reserve Bank ," Speech 1068, Board of Governors of the Federal Reserve System (U.S.).
    266. Manamani SAHOO, 2017. "Financial conditions index (FCI), inflation and growth: Some evidence," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(612), A), pages 147-172, Autumn.
    267. Rubio, Margarita, 2016. "Short and long-term interest rates and the effectiveness of monetary and macroprudential policies," Journal of Macroeconomics, Elsevier, vol. 47(PA), pages 103-115.
    268. Mr. Nils O Maehle, 2020. "Monetary Policy Implementation: Operational Issues for Countries with Evolving Monetary Policy Frameworks," IMF Working Papers 2020/026, International Monetary Fund.
    269. Kappler, Marcus & Schleer, Frauke, 2013. "How many factors and shocks cause financial stress?," ZEW Discussion Papers 13-100, ZEW - Leibniz Centre for European Economic Research.
    270. Pejman Peykani & Mostafa Sargolzaei & Amir Takaloo & Shahla Valizadeh, 2023. "The Effects of Monetary Policy on Macroeconomic Variables through Credit and Balance Sheet Channels: A Dynamic Stochastic General Equilibrium Approach," Sustainability, MDPI, vol. 15(5), pages 1-21, March.
    271. Levanon, Gad & Manini, Jean-Claude & Ozyildirim, Ataman & Schaitkin, Brian & Tanchua, Jennelyn, 2015. "Using financial indicators to predict turning points in the business cycle: The case of the leading economic index for the United States," International Journal of Forecasting, Elsevier, vol. 31(2), pages 426-445.

  30. Hess T. Chung & Michael T. Kiley & Jean-Philippe Laforte, 2010. "Documentation of the Estimated, Dynamic, Optimization-based (EDO) model of the U.S. economy: 2010 version," Finance and Economics Discussion Series 2010-29, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. William T. Gavin & Benjamin D. Keen, 2012. "U.S. monetary policy: a view from macro theory," Working Papers 2012-019, Federal Reserve Bank of St. Louis.
    2. Harrison, Richard, 2015. "Estimating the effects of forward guidance in rational expectations models," European Economic Review, Elsevier, vol. 79(C), pages 196-213.
    3. Kenji Nishizaki & Toshitaka Sekine & Yoichi Ueno, 2014. "Chronic Deflation in Japan," Asian Economic Policy Review, Japan Center for Economic Research, vol. 9(1), pages 20-39, January.
    4. Petropoulos, Fotios & Apiletti, Daniele & Assimakopoulos, Vassilios & Babai, Mohamed Zied & Barrow, Devon K. & Ben Taieb, Souhaib & Bergmeir, Christoph & Bessa, Ricardo J. & Bijak, Jakub & Boylan, Joh, 2022. "Forecasting: theory and practice," International Journal of Forecasting, Elsevier, vol. 38(3), pages 705-871.
      • Fotios Petropoulos & Daniele Apiletti & Vassilios Assimakopoulos & Mohamed Zied Babai & Devon K. Barrow & Souhaib Ben Taieb & Christoph Bergmeir & Ricardo J. Bessa & Jakub Bijak & John E. Boylan & Jet, 2020. "Forecasting: theory and practice," Papers 2012.03854, arXiv.org, revised Jan 2022.
    5. Hess T. Chung & Jean-Philippe Laforte & David L. Reifschneider & John C. Williams, 2011. "Have we underestimated the likelihood and severity of zero lower bound events?," Working Paper Series 2011-01, Federal Reserve Bank of San Francisco.
    6. Schmidt, Sebastian & Nakata, Taisuke, 2016. "The risk-adjusted monetary policy rule," Working Paper Series 1985, European Central Bank.
    7. Nils M. Gornemann & Keith Kuester & Makoto Nakajima, 2012. "Monetary policy with heterogeneous agents," Working Papers 12-21, Federal Reserve Bank of Philadelphia.
    8. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    9. Alban Moura, 2018. "Investment Shocks, Sticky Prices, and the Endogenous Relative Price of Investment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 27, pages 48-63, January.
    10. Tony Hall & Jan Jacobs & Adrian Pagan, "undated". "Macro-Econometric System Modelling @75," NCER Working Paper Series 95, National Centre for Econometric Research.
    11. Kiley, Michael T. & Sim, Jae, 2017. "Optimal monetary and macroprudential policies: Gains and pitfalls in a model of financial intermediation," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 232-259.
    12. Bee-Lon Chen & Shian-Yu Liao, 2017. "Durable Goods, Investment Shocks and the Comovement Problem," IEAS Working Paper : academic research 17-A007, Institute of Economics, Academia Sinica, Taipei, Taiwan.
    13. Kose, M. Ayhan & Claessens, Stijn, 2017. "Asset Prices and Macroeconomic Outcomes: A Survey," CEPR Discussion Papers 12460, C.E.P.R. Discussion Papers.
    14. Michael T. Kiley, 2010. "Output gaps," Finance and Economics Discussion Series 2010-27, Board of Governors of the Federal Reserve System (U.S.).
    15. Francesco Sergi, 2020. "The Standard Narrative about DSGE Models in Central Banks’ Technical Reports," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 27(2), pages 163-193, March.
    16. Takuji Fueki & Ichiro Fukunaga & Hibiki Ichiue & Toyoichiro Shirota, 2010. "Measuring Potential Growth with an Estimated DSGE Model of Japan's Economy," Bank of Japan Working Paper Series 10-E-13, Bank of Japan.
    17. Takuji Fueki & Ichiro Fukunaga & Masashi Saito, 2011. "Assessing the Effects of Fiscal Policy in Japan with Estimated and Calibrated DSGE Models," Bank of Japan Working Paper Series 11-E-9, Bank of Japan.
    18. Harrison, Ricahrd, 2014. "Estimating the effects of forward guidance in rational expectations models," LSE Research Online Documents on Economics 86327, London School of Economics and Political Science, LSE Library.
    19. Hills, Timothy S. & Nakata, Taisuke & Schmidt, Sebastian, 2019. "Effective lower bound risk," European Economic Review, Elsevier, vol. 120(C).
    20. Mr. Jan Vlcek & Mr. Scott Roger, 2012. "Macrofinancial Modeling At Central Banks: Recent Developments and Future Directions," IMF Working Papers 2012/021, International Monetary Fund.
    21. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 317-396.
    22. Dario Caldara & Richard Harrison & Anna Lipinska, 2012. "Practical tools for policy analysis in DSGE models with missing channels," Finance and Economics Discussion Series 2012-72, Board of Governors of the Federal Reserve System (U.S.).
    23. Binder, Michael & Lieberknecht, Philipp & Quintana, Jorge & Wieland, Volker, 2017. "Model uncertainty in macroeconomics: On the implications of financial frictions," IMFS Working Paper Series 114, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    24. Burgess, Stephen & Fernandez-Corugedo, Emilio & Groth, Charlotta & Harrison, Richard & Monti, Francesca & Theodoridis, Konstantinos & Waldron, Matt, 2013. "The Bank of England's forecasting platform: COMPASS, MAPS, EASE and the suite of models," Bank of England working papers 471, Bank of England.
    25. Shaun de Jager & Michael Johnston & Rudi Steinbach, 2015. "A Revised Quarterly Projection Model for South Africa," Working Papers 6839, South African Reserve Bank.
    26. Michael Dotsey, 2013. "DSGE models and their use in monetary policy," Business Review, Federal Reserve Bank of Philadelphia, issue Q2, pages 10-16.

  31. Michael T. Kiley, 2010. "Output gaps," Finance and Economics Discussion Series 2010-27, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. John G. Fernald, 2014. "Productivity and Potential Output Before, During, and After the Great Recession," Working Paper Series 2014-15, Federal Reserve Bank of San Francisco.
    2. Matteo Barigozzi & Matteo Luciani, 2017. "Common Factors, Trends, and Cycles in Large Datasets," Finance and Economics Discussion Series 2017-111, Board of Governors of the Federal Reserve System (U.S.).
    3. Ellen E. Meade & Daniel L. Thornton, 2012. "The Phillips curve and US monetary policy: what the FOMC transcripts tell us," Oxford Economic Papers, Oxford University Press, vol. 64(2), pages 197-216, April.
    4. Dungey, Mardi & Jacobs, Jan P.A.M. & Tian, Jing, 2016. "Forecasting output gaps in the G-7 countries: The role of correlated Innovations and structural breaks," Working Papers 2016-04, University of Tasmania, Tasmanian School of Business and Economics.
    5. Hess T. Chung & Jean-Philippe Laforte & David L. Reifschneider & John C. Williams, 2011. "Have we underestimated the likelihood and severity of zero lower bound events?," Working Paper Series 2011-01, Federal Reserve Bank of San Francisco.
    6. Zuzana Mucka & Michal Horvath, 2015. "Fiscal Policy Matters A New DSGE Model for Slovakia," Discussion Papers Discussion Paper No. 1/20, Council for Budget Responsibility.
    7. Borio, Claudio, 2014. "The financial cycle and macroeconomics: What have we learnt?," Journal of Banking & Finance, Elsevier, vol. 45(C), pages 182-198.
    8. Boivin, Jean & Kiley, Michael T. & Mishkin, Frederic S., 2010. "How Has the Monetary Transmission Mechanism Evolved Over Time?," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 8, pages 369-422, Elsevier.
    9. Garratt, Anthony & Lee, Kevin & Shields, Kalvinder, 2016. "Information rigidities and the news-adjusted output gap," Journal of Economic Dynamics and Control, Elsevier, vol. 70(C), pages 1-17.
    10. Jane K. Dokko & Brian M. Doyle & Skander J. van den Heuvel & Michael T. Kiley & Jinill Kim & Shane M. Sherlund & Jae W. Sim, 2009. "Monetary policy and the housing bubble," Finance and Economics Discussion Series 2009-49, Board of Governors of the Federal Reserve System (U.S.).
    11. Kiley, Michael T. & Sim, Jae, 2017. "Optimal monetary and macroprudential policies: Gains and pitfalls in a model of financial intermediation," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 232-259.
    12. Murasawa, Yasutomo, 2015. "The multivariate Beveridge--Nelson decomposition with I(1) and I(2) series," MPRA Paper 66319, University Library of Munich, Germany.
    13. Roberto M. Billi, 2011. "Output gaps and monetary policy at low interest rates," Economic Review, Federal Reserve Bank of Kansas City, vol. 96(Q I).
    14. Luca Sala & Ulf Soderstrom & Antonella Trigari, 2010. "The Output Gap, the Labor Wedge, and the Dynamic Behavior of Hours," Working Papers 365, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    15. Christiano, Lawrence J. & Trabandt, Mathias & Walentin, Karl, 2010. "DSGE Models for Monetary Policy Analysis," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 7, pages 285-367, Elsevier.
    16. F. Gerard Adams & Byron Gangnes, 2010. "The Employment Effects of Fiscal Policy: How Costly Are ARRA Jobs?," Working Papers 201026, University of Hawaii at Manoa, Department of Economics.
    17. Michael T. Kiley, 2015. "What Can the Data Tell Us About the Equilibrium Real Interest Rate?," Finance and Economics Discussion Series 2015-77, Board of Governors of the Federal Reserve System (U.S.).
    18. Takuji Fueki & Ichiro Fukunaga & Hibiki Ichiue & Toyoichiro Shirota, 2010. "Measuring Potential Growth with an Estimated DSGE Model of Japan's Economy," Bank of Japan Working Paper Series 10-E-13, Bank of Japan.
    19. Hess T. Chung & Michael T. Kiley & Jean-Philippe Laforte, 2010. "Documentation of the Estimated, Dynamic, Optimization-based (EDO) model of the U.S. economy: 2010 version," Finance and Economics Discussion Series 2010-29, Board of Governors of the Federal Reserve System (U.S.).
    20. Pitorac Ruxandra, 2015. "The Specifics Of Okun’S Law In The Romanian Economy Between 2007 And 2013," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 50-53, February.
    21. James Morley, 2014. "Measuring economic slack in Asia and the Pacific," BIS Papers chapters, in: Bank for International Settlements (ed.), Globalisation, inflation and monetary policy in Asia and the Pacific, volume 77, pages 35-50, Bank for International Settlements.
    22. David Lancaster & Peter Tulip, 2015. "Okun's Law and Potential Output," RBA Research Discussion Papers rdp2015-14, Reserve Bank of Australia.
    23. Sandeep Mazumder, 2014. "The Impact of Educational Attainment and Gender on the Inflation-Unemployment Tradeoff," Economics Bulletin, AccessEcon, vol. 34(2), pages 651-662.
    24. Michael Dotsey, 2013. "DSGE models and their use in monetary policy," Business Review, Federal Reserve Bank of Philadelphia, issue Q2, pages 10-16.

  32. Michael Kiley & Jean-Philippe Laforte & Rochelle Edge, 2009. "Investment Shocks and the Business Cycle: The View from a Policy-Oriented DSGE model," 2009 Meeting Papers 148, Society for Economic Dynamics.

    Cited by:

    1. Michael T. Kiley, 2010. "Output gaps," Finance and Economics Discussion Series 2010-27, Board of Governors of the Federal Reserve System (U.S.).

  33. Michael T. Kiley, 2009. "Inflation expectations, uncertainty, the Phillips Curve, and monetary policy," Finance and Economics Discussion Series 2009-15, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Wändi Bruine de Bruin & Michael F. Bryan & Simon M. Potter & Giorgio Topa & Wilbert Van der Klaauw, 2008. "Rethinking the measurement of household inflation expectations: preliminary findings," Staff Reports 359, Federal Reserve Bank of New York.
    2. Michael Debabrata Patra & Partha Ray, 2010. "Inflation Expectations and Monetary Policy in India: An Empirical Exploration," IMF Working Papers 2010/084, International Monetary Fund.
    3. Travis J. Berge, 2017. "Understanding Survey Based Inflation Expectations," Finance and Economics Discussion Series 2017-046, Board of Governors of the Federal Reserve System (U.S.).

  34. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2009. "A comparision of forecast, simple reduced-form models, and a DSGE model," CAMA Working Papers 2009-03, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.

    Cited by:

    1. Michael T. Kiley & Jean-Philippe Laforte & Rochelle M. Edge, 2008. "The Sources of Fluctuations in Residential Investment: A View from a Policy-Oriented DSGE Model of the U.S. Economic," 2008 Meeting Papers 990, Society for Economic Dynamics.

  35. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2009. "A comparison of forecast performance between Federal Reserve staff forecasts, simple reduced-form models, and a DSGE model," Finance and Economics Discussion Series 2009-10, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Carola Conces Binder & Rodrigo Sekkel, 2023. "Central Bank Forecasting: A Survey," Staff Working Papers 23-18, Bank of Canada.
    2. Henzel, Steffen R. & Mayr, Johannes, 2013. "The mechanics of VAR forecast pooling—A DSGE model based Monte Carlo study," The North American Journal of Economics and Finance, Elsevier, vol. 24(C), pages 1-24.
    3. Pablo Burriel & Jesús Fernández-Villaverde & Juan Rubio-Ramírez, 2010. "MEDEA: a DSGE model for the Spanish economy," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 1(1), pages 175-243, March.
    4. Federico Di Pace & Matthias S. Hertweck, 2012. "Labour Market Frictions, Monetary Policy and Durable Goods," Working Paper Series of the Department of Economics, University of Konstanz 2012-09, Department of Economics, University of Konstanz.
    5. Wolters, Maik H., 2013. "Evaluating point and density forecasts of DSGE models," Economics Working Papers 2013-03, Christian-Albrechts-University of Kiel, Department of Economics.
    6. David Kohns & Tibor Szendrei, 2021. "Decoupling Shrinkage and Selection for the Bayesian Quantile Regression," Papers 2107.08498, arXiv.org.
    7. Raffaella Giacomini, 2012. "Incorporating theoretical restrictions into forecasting by projection methods," 2012 Meeting Papers 548, Society for Economic Dynamics.
    8. Barbara Rossi, 2013. "Exchange rate predictability," Economics Working Papers 1369, Department of Economics and Business, Universitat Pompeu Fabra.
    9. Michael McLeay & Silvana Tenreyro, 2018. "Optimal Inflation and the Identification of the Phillips Curve," Discussion Papers 1815, Centre for Macroeconomics (CFM).
    10. Michael Cai & Marco Del Negro & Marc Giannoni & Abhi Gupta & Pearl Li & Erica Moszkowski, 2018. "DSGE forecasts of the lost recovery," Staff Reports 844, Federal Reserve Bank of New York.
    11. Mehmet Balcilar & Rangan Gupta & Kevin Kotze, 2013. "Forecasting South African Macroeconomic Data with a Nonlinear DSGE Model," Working Papers 201313, University of Pretoria, Department of Economics.
    12. Oleg Kryzhanovsky & Alexander Zykov, 2022. "DEMUR: A Regional Semi-Structural Model of the Ural Macroregion," Russian Journal of Money and Finance, Bank of Russia, vol. 81(4), pages 52-85, December.
    13. Martinez-Martin Jaime & Morris Richard & Onorante Luca & Piersanti Fabio Massimo, 2024. "Merging Structural and Reduced-Form Models for Forecasting," The B.E. Journal of Macroeconomics, De Gruyter, vol. 24(1), pages 399-437, January.
    14. Kolasa, Marcin & Rubaszek, Michał, 2014. "Forecasting with DSGE models with financial frictions," Dynare Working Papers 40, CEPREMAP.
    15. Ana Beatriz Galvão & Liudas Giraitis & George Kapetanios & Katerina Petrova, 2015. "A Bayesian Local Likelihood Method for Modelling Parameter Time Variation in DSGE Models," Working Papers 770, Queen Mary University of London, School of Economics and Finance.
    16. Michal Rubaszek & Pawel Skrzypczynski, 2007. "Can a simple DSGE model outperform Professional Forecasters?," NBP Working Papers 43, Narodowy Bank Polski.
    17. Michael Kiley & Jean-Philippe Laforte & Rochelle Edge, 2009. "Investment Shocks and the Business Cycle: The View from a Policy-Oriented DSGE model," 2009 Meeting Papers 148, Society for Economic Dynamics.
    18. Patrick Schmidt & Matthias Katzfuss & Tilmann Gneiting, 2021. "Interpretation of point forecasts with unknown directive," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 36(6), pages 728-743, September.
    19. Raffaella Giacomini & Barbara Rossi, 2013. "Forecasting in macroeconomics," Chapters, in: Nigar Hashimzade & Michael A. Thornton (ed.), Handbook of Research Methods and Applications in Empirical Macroeconomics, chapter 17, pages 381-408, Edward Elgar Publishing.
    20. Chauvet, Marcelle & Potter, Simon, 2013. "Forecasting Output," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 141-194, Elsevier.
    21. Jesús Fernández-Villaverde, 2010. "The econometrics of DSGE models," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 1(1), pages 3-49, March.
    22. Hess T. Chung & Jean-Philippe Laforte & David L. Reifschneider & John C. Williams, 2011. "Have we underestimated the likelihood and severity of zero lower bound events?," Working Paper Series 2011-01, Federal Reserve Bank of San Francisco.
    23. Lucia Alessi & Eric Ghysels & Luca Onorante & Richard Peach & Simon Potter, 2014. "Central Bank Macroeconomic Forecasting During the Global Financial Crisis: The European Central Bank and Federal Reserve Bank of New York Experiences," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 32(4), pages 483-500, October.
    24. Michel Juillard & Ondrej Kamenik & Michael Kumhof & Douglas Laxton, 2006. "Measures of Potential Output from an Estimated DSGE Model of the United States," Working Papers 2006/11, Czech National Bank.
    25. Marcin Kolasa & Michal Rubaszek, 2015. "How Frequently Should We Reestimate DSGE Models?," International Journal of Central Banking, International Journal of Central Banking, vol. 11(4), pages 279-305, December.
    26. Boriss Siliverstovs, 2019. "Assessing Nowcast Accuracy of US GDP Growth in Real Time: The Role of Booms and Busts," Working Papers 2019/01, Latvijas Banka.
    27. Paul Hubert, 2009. "Informational Advantage and Influence of Communicating Central Banks," Documents de Travail de l'OFCE 2009-04, Observatoire Francais des Conjonctures Economiques (OFCE).
    28. Marchionatti, Roberto & Sella, Lisa, 2015. "Is Neo-Walrasian Macroeconomics a Dead End?," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201521, University of Turin.
    29. Boivin, Jean & Kiley, Michael T. & Mishkin, Frederic S., 2010. "How Has the Monetary Transmission Mechanism Evolved Over Time?," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 8, pages 369-422, Elsevier.
    30. Wieland, Volker & Wolters, Maik H., 2010. "The diversity of forecasts from macroeconomic models of the U.S. economy," CFS Working Paper Series 2010/08, Center for Financial Studies (CFS).
    31. Jesús Fernández-Villaverde & Lee Ohanian, 2010. "The Spanish Crisis from a Global Perspective," Working Papers 2010-03, FEDEA.
    32. Warne, Anders & Coenen, Günter & Christoffel, Kai, 2010. "Forecasting with DSGE models," Working Paper Series 1185, European Central Bank.
    33. Raffaella Giacomini, 2014. "Economic theory and forecasting: lessons from the literature," CeMMAP working papers 41/14, Institute for Fiscal Studies.
    34. Giacomini, Raffaella & Ragusa, Giuseppe, 2014. "Theory-coherent forecasting," Journal of Econometrics, Elsevier, vol. 182(1), pages 145-155.
    35. Bratu Mihaela, 2013. "An Evaluation Of Usa Unemployment Rate Forecasts In Terms Of Accuracy And Bias. Empirical Methods To Improve The Forecasts Accuracy," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 170-180, February.
    36. Jesper Lindé, 2018. "DSGE models: still useful in policy analysis?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 34(1-2), pages 269-286.
    37. Schorfheide, Frank & Sill, Keith & Kryshko, Maxym, 2010. "DSGE model-based forecasting of non-modelled variables," International Journal of Forecasting, Elsevier, vol. 26(2), pages 348-373, April.
    38. Faust, Jon & Wright, Jonathan H., 2009. "Comparing Greenbook and Reduced Form Forecasts Using a Large Realtime Dataset," Journal of Business & Economic Statistics, American Statistical Association, vol. 27(4), pages 468-479.
    39. Giacomini, Raffaella, 2014. "Economic theory and forecasting: lessons from the literature," CEPR Discussion Papers 10201, C.E.P.R. Discussion Papers.
    40. Benchimol, Jonathan & Fourçans, André, 2012. "The role of money and monetary policy in crisis periods: the Euro area case," ESSEC Working Papers WP1201, ESSEC Research Center, ESSEC Business School, revised 27 Feb 2012.
    41. Casares, Miguel & Vázquez, Jesús, 2016. "Data Revisions In The Estimation Of Dsge Models," Macroeconomic Dynamics, Cambridge University Press, vol. 20(7), pages 1683-1716, October.
    42. Aadil Nakhoda, 2015. "The Influence of Industry Financial Composition on the Exports from Pakistan," Working Papers id:7656, eSocialSciences.
    43. Minford, Patrick & Zhou, Peng & Xu, Yongdeng, 2014. "How good are out of sample forecasting Tests on DSGE models?," CEPR Discussion Papers 10239, C.E.P.R. Discussion Papers.
    44. Naohisa Hirakata & Kazutoshi Kan & Akihiro Kanafuji & Yosuke Kido & Yui Kishaba & Tomonori Murakoshi & Takeshi Shinohara, 2019. "The Quarterly Japanese Economic Model (Q-JEM): 2019 version," Bank of Japan Working Paper Series 19-E-7, Bank of Japan.
    45. Rochelle M. Edge & Refet S. Gurkaynak, 2010. "How Useful Are Estimated DSGE Model Forecasts for Central Bankers?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 41(2 (Fall)), pages 209-259.
    46. Wieland, Volker & Wolters, Maik Hendrik, 2012. "Forecasting and policy making," IMFS Working Paper Series 62, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    47. Edward P. Herbst & Frank Schorfheide, 2012. "Evaluating DSGE model forecasts of comovements," Finance and Economics Discussion Series 2012-11, Board of Governors of the Federal Reserve System (U.S.).
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    66. Jon Huntley & Eric Miller, 2009. "An Evaluation of CBO Forecasts: Working Paper 2009-02," Working Papers 41195, Congressional Budget Office.
    67. Lorenzo Burlon & Simone Emiliozzi & Alessandro Notarpietro & Massimiliano Pisani, 2015. "Medium-term forecasting of euro-area macroeconomic variables with DSGE and BVARX models," Questioni di Economia e Finanza (Occasional Papers) 257, Bank of Italy, Economic Research and International Relations Area.
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    70. Bekiros Stelios & Paccagnini Alessia, 2015. "Estimating point and density forecasts for the US economy with a factor-augmented vector autoregressive DSGE model," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 19(2), pages 107-136, April.
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    72. Volker Wieland, 2012. "Model comparison and robustness: a proposal for policy analysis after the financial crisis," Chapters, in: Robert M. Solow & Jean-Philippe Touffut (ed.), What’s Right with Macroeconomics?, chapter 2, pages 33-67, Edward Elgar Publishing.
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    74. Mai, Nhat Chi, 2016. "Monetary policies and the macroeconomic performance of Vietnam," OSF Preprints akzy4, Center for Open Science.
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    78. Michael T. Kiley, 2008. "Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    79. Garciga, Christian & Knotek II, Edward S., 2019. "Forecasting GDP growth with NIPA aggregates: In search of core GDP," International Journal of Forecasting, Elsevier, vol. 35(4), pages 1814-1828.
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    93. Alali, Walid Y., 2009. "Solution Strategies of Dynamic Stochastic General Equilibrium (DSGE) models," MPRA Paper 116480, University Library of Munich, Germany.
    94. Cristea, R. G., 2020. "Can Alternative Data Improve the Accuracy of Dynamic Factor Model Nowcasts?," Cambridge Working Papers in Economics 20108, Faculty of Economics, University of Cambridge.
    95. Casares, Miguel & Vázquez Pérez, Jesús, 2012. "Data Revisions in the Estimation of DSGE Models," DFAEII Working Papers 1988-088X, University of the Basque Country - Department of Foundations of Economic Analysis II.
    96. Ulrich Gunter, 2019. "Estimating and forecasting with a two-country DSGE model of the Euro area and the USA: the merits of diverging interest-rate rules," Empirical Economics, Springer, vol. 56(4), pages 1283-1323, April.
    97. Jean-Philippe Cayen & Marc-André Gosselin & Sharon Kozicki, 2009. "Estimating DSGE-Model-Consistent Trends for Use in Forecasting," Staff Working Papers 09-35, Bank of Canada.
    98. Rochelle M. Edge & Refet S. Gürkaynak, 2011. "How useful are estimated DSGE model forecasts?," Finance and Economics Discussion Series 2011-11, Board of Governors of the Federal Reserve System (U.S.).

  36. Jane K. Dokko & Brian M. Doyle & Skander J. van den Heuvel & Michael T. Kiley & Jinill Kim & Shane M. Sherlund & Jae W. Sim, 2009. "Monetary policy and the housing bubble," Finance and Economics Discussion Series 2009-49, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Michael W. McCracken & Joseph T. McGillicuddy & Michael T. Owyang, 2022. "Binary Conditional Forecasts," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 40(3), pages 1246-1258, June.
    2. Tobias Adrian & J. Nellie Liang, 2014. "Monetary policy, financial conditions, and financial stability," Staff Reports 690, Federal Reserve Bank of New York.
    3. Ben S. Bernanke & Carol C. Bertaut & Steven B. Kamin & Laurie Pounder DeMarco, 2011. "International capital flows and the returns to safe assets in the United States, 2003-2007," International Finance Discussion Papers 1014, Board of Governors of the Federal Reserve System (U.S.).
    4. Kyungsoo Kim & Byoung-Ki Kim & Hail Park, 2011. "Monetary policy framework and financial procyclicality: international evidence," BIS Papers chapters, in: Bank for International Settlements (ed.), Macroprudential regulation and policy, volume 60, pages 51-57, Bank for International Settlements.
    5. Mahua Barari & Nityananda Sarkar & Srikanta Kundu & Kushal Banik Chowdhury, 2014. "Forecasting House Prices in the United States with Multiple Structural Breaks," International Econometric Review (IER), Econometric Research Association, vol. 6(1), pages 1-23, April.
    6. Erlend Nier & Ouarda Merrouche, 2017. "Capital Inflows, Monetary Policy, and Financial Imbalances," Post-Print hal-01638073, HAL.
    7. Yash P. Mehra & Bansi Sawhney, 2010. "Inflation measure, Taylor rules, and the Greenspan-Bernanke years," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 96(2Q), pages 123-151.
    8. Christopher L. Foote & Kristopher S. Gerardi & Paul S. Willen, 2012. "Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis," NBER Working Papers 18082, National Bureau of Economic Research, Inc.
    9. Jean-Paul Pollin, 2010. "Commentaire : Articuler les explications pour comprendre la bulle immobilière," Économie et Statistique, Programme National Persée, vol. 438(1), pages 173-179.
    10. Nicolas Groshenny, 2010. "Monetary Policy, Inflation and Unemployment In Defense of the Federal Reserve," CAMA Working Papers 2010-37, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    11. Lars E. O. Svensson, 2011. "Monetary policy after the crisis," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages 35-49.
    12. Svensson, Lars E.O., 2010. "Inflation Targeting," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 22, pages 1237-1302, Elsevier.
    13. Boris Hofmann & Gert Peersman, 2017. "Monetary Policy Transmission And Trade-Offs In The United States: Old And New," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 17/940, Ghent University, Faculty of Economics and Business Administration.
    14. Edward Nelson, 2011. "Friedman's monetary economics in practice," Finance and Economics Discussion Series 2011-26, Board of Governors of the Federal Reserve System (U.S.).
    15. Emiliano Brancaccio & Giuseppe Fontana, 2013. "'Solvency rule' versus 'Taylor rule': an alternative interpretation of the relation between monetary policy and the economic crisis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 37(1), pages 17-33.
    16. Sohei Kaihatsu & Takushi Kurozumi, 2010. "Sources of Business Fluctuations: Financial or Technology Shocks?," Bank of Japan Working Paper Series 10-E-12, Bank of Japan.
    17. Michael W. McCracken & Joseph T. McGillicuddy, 2019. "An empirical investigation of direct and iterated multistep conditional forecasts," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 34(2), pages 181-204, March.
    18. Kenneth Kuttner & Ilhyock Shim, 2012. "Taming the Real Estate Beast: The Effects of Monetary and Macroprudential Policies on Housing Prices and Credit," RBA Annual Conference Volume (Discontinued), in: Alexandra Heath & Frank Packer & Callan Windsor (ed.),Property Markets and Financial Stability, Reserve Bank of Australia.
    19. Jelena Vukomanovic & Sandra L. Doumas & W. R. Osterkamp & Barron J. Orr, 2013. "Housing Density and Ecosystem Function: Comparing the Impacts of Rural, Exurban, and Suburban Densities on Fire Hazard, Water Availability, and House and Road Distance Effects," Land, MDPI, vol. 2(4), pages 1-22, November.
    20. Bertaut, Carol & DeMarco, Laurie Pounder & Kamin, Steven & Tryon, Ralph, 2012. "ABS inflows to the United States and the global financial crisis," Journal of International Economics, Elsevier, vol. 88(2), pages 219-234.
    21. Zhang, Jiarui & Xu, Xiaonian, 2020. "The effects of the monetary policy on the U.S. housing boom from 2001 to 2006," Research in Economics, Elsevier, vol. 74(4), pages 301-322.
    22. Kenneth N Kuttner, 2012. "Discussant remarks on Filipa Sá, Pascal Towbin and Tomasz Wieladek’s paper "Capital inflows,financial innovation and housing booms"," BIS Papers chapters, in: Bank for International Settlements (ed.), Property markets and financial stability, volume 64, pages 76-82, Bank for International Settlements.
    23. Kyungsoo Kim, Byoung-Ki Kim, Hail Park, 2012. "Interest Rate-oriented Monetary Policy Framework and Financial Procyclicality," Korean Economic Review, Korean Economic Association, vol. 28, pages 161-188.
    24. Martha Starr, 2012. "Contributions of Economists to the Housing-Price Bubble," Journal of Economic Issues, Taylor & Francis Journals, vol. 46(1), pages 143-172.
    25. Taipalus, Katja, 2012. "Detecting asset price bubbles with time-series methods," Bank of Finland Scientific Monographs, Bank of Finland, volume 0, number sm2012_047, July.
    26. Kenneth Kuttner, 2011. "Monetary Policy and Asset Price Volatility: Should We Refill the Bernanke-Gertler Prescription?," Department of Economics Working Papers 2011-04, Department of Economics, Williams College, revised Jun 2011.
    27. Matthew J. Eichner & Donald L. Kohn & Michael G. Palumbo, 2013. "Financial Statistics for the United States and the Crisis: What Did They Get Right, What Did They Miss, and How Could They Change?," NBER Chapters, in: Measuring Wealth and Financial Intermediation and Their Links to the Real Economy, pages 39-66, National Bureau of Economic Research, Inc.
    28. Kenneth N. Kuttner, 2013. "Low Interest Rates and Housing Bubbles: Still No Smoking Gun," World Scientific Book Chapters, in: Douglas D Evanoff & Cornelia Holthausen & George G Kaufman & Manfred Kremer (ed.), The Role of Central Banks in Financial Stability How Has It Changed?, chapter 8, pages 159-185, World Scientific Publishing Co. Pte. Ltd..
    29. Mohammed Dore & Roelof Makken & Erik Eastman, 2013. "The Monetary Transmission Mechanism, Non-residential Fixed Investment and Housing," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 41(3), pages 215-224, September.
    30. Ouarda Merrouche & Erlend Nier, 2010. "What Caused the Global Financial Crisis: Evidenceon the Drivers of Financial Imbalances 1999: 2007," IMF Working Papers 2010/265, International Monetary Fund.
    31. Alan Greenspan, 2010. "The Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 41(1 (Spring), pages 201-261.
    32. Gabriele Galati & Richhild Moessner, 2013. "Macroprudential Policy – A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 27(5), pages 846-878, December.
    33. James H. Stock & Mark W. Watson, 2010. "Modeling Inflation After the Crisis," Working Papers 2010-1, Princeton University. Economics Department..
    34. Merrouche, Ouarda & Nier, Erlend, 2014. "The Global Financial Crisis?What Drove The Build-Up?," CEPR Discussion Papers 10015, C.E.P.R. Discussion Papers.
    35. James H. Stock & Mark W. Watson, 2010. "Modeling Inflation After the Crisis," NBER Working Papers 16488, National Bureau of Economic Research, Inc.
    36. David Aikman & Andreas Lehnert & J. Nellie Liang & Michele Modugno, 2016. "Financial Vulnerabilities, Macroeconomic Dynamics, and Monetary Policy," Finance and Economics Discussion Series 2016-055, Board of Governors of the Federal Reserve System (U.S.).
    37. Jörg Bibow, 2010. "Alternative Strategien der Budgetkonsolidierung in Österreich nach der Rezession," IMK Studies 03-2010, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    38. Carol Bertaut & Laurie Pounder DeMarco & Steven B. Kamin & Ralph W. Tryon, 2011. "ABS Inflows to the United States and the Global Financial Crisis," NBER Working Papers 17350, National Bureau of Economic Research, Inc.
    39. Carol C. Bertaut & Steven B. Kamin & Laurie Pounder DeMarco & Ralph W. Tryon, 2011. "ABS inflows to the United States and the global financial crisis," International Finance Discussion Papers 1028, Board of Governors of the Federal Reserve System (U.S.).
    40. Peter Stalder, 2015. "Starker Franken und tiefe Zinsen: Wohin steuert der schweizerische Immobilienmarkt?," KOF Analysen, KOF Swiss Economic Institute, ETH Zurich, vol. 9(4), pages 45-66, December.

  37. Michael T. Kiley, 2008. "Estimating the common trend rate of inflation for consumer prices and consumer prices excluding food and energy prices," Finance and Economics Discussion Series 2008-38, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Maha Kalai & Thouraya Boujelbene Dammak, 2017. "Core Inflation Measure and Its Effect on Economic Growth and Employment in Tunisia," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 20(66), pages 153-179, December.
    2. Pincheira, Pablo & Selaive, Jorge & Nolazco, Jose Luis, 2016. "The Evasive Predictive Ability of Core Inflation," MPRA Paper 68704, University Library of Munich, Germany.
    3. James B. Bullard, 2011. "Measuring inflation: the core is rotten," Review, Federal Reserve Bank of St. Louis, vol. 93(July), pages 223-234.
    4. Yash P. Mehra & Bansi Sawhney, 2010. "Inflation measure, Taylor rules, and the Greenspan-Bernanke years," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 96(2Q), pages 123-151.
    5. Scott Davis, 2012. "The Effect of Commodity Price Shocks on Underlying Inflation: The Role of Central Bank Credibility," Working Papers 272012, Hong Kong Institute for Monetary Research.
    6. Michael D. Bradley & Dennis W. Jansen & Tara M. Sinclair, 2013. "How Well Does "Core" Inflation Capture Permanent Price Changes?," CAMA Working Papers 2013-26, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    7. Jane K. Dokko & Brian M. Doyle & Skander J. van den Heuvel & Michael T. Kiley & Jinill Kim & Shane M. Sherlund & Jae W. Sim, 2009. "Monetary policy and the housing bubble," Finance and Economics Discussion Series 2009-49, Board of Governors of the Federal Reserve System (U.S.).
    8. Francesco Ravazzolo & Shaun P Vahey, 2010. "Measuring Core Inflation in Australia with Disaggregate Ensembles," RBA Annual Conference Volume (Discontinued), in: Renée Fry & Callum Jones & Christopher Kent (ed.),Inflation in an Era of Relative Price Shocks, Reserve Bank of Australia.
    9. Daniel Carvalho, 2014. "Capital Inflows and euro area long-term interest rates," Working Papers w201410, Banco de Portugal, Economics and Research Department.
    10. Tucker S. McElroy & Thomas M. Trimbur, 2012. "Signal extraction for nonstationary multivariate time series with illustrations for trend inflation," Finance and Economics Discussion Series 2012-45, Board of Governors of the Federal Reserve System (U.S.).
    11. Yash P. Mehra & Devin Reilly, 2009. "Short-term headline-core inflation dynamics," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 95(Sum), pages 289-313.
    12. Willem H. Buiter, 2008. "Central banks and financial crises," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 495-633.
    13. Theodore M. Crone & N. Neil K. Khettry & Loretta J. Mester & Jason A. Novak, 2013. "Core Measures of Inflation as Predictors of Total Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(2‐3), pages 505-519, March.
    14. Franklin Allen & Elena Carletti, 2008. "The role of liquidity in financial crises," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 379-412.
    15. Peter R. Fisher, 2008. "Commentary : the role of liquidity in financial crises," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 413-422.
    16. Ida Wolden Bache & James Mitchell & Francesco Ravazzolo & Shaun P. Vahey, 2009. "Macro modelling with many models," Working Paper 2009/15, Norges Bank.
    17. Elmar Mertens, 2016. "Measuring the Level and Uncertainty of Trend Inflation," The Review of Economics and Statistics, MIT Press, vol. 98(5), pages 950-967, December.
    18. Michael T. Kiley, 2023. "The Role of Wages in Trend Inflation: Back to the 1980s?," Finance and Economics Discussion Series 2023-022, Board of Governors of the Federal Reserve System (U.S.).
    19. Kaihatsu, Sohei & Nakajima, Jouchi, 2018. "Has trend inflation shifted?: An empirical analysis with an equally-spaced regime-switching model," Economic Analysis and Policy, Elsevier, vol. 59(C), pages 69-83.
    20. Stefano Eusepi & Bart Hobijn & Andrea Tambalotti, 2011. "CONDI: A Cost-of-Nominal-Distortions Index," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(3), pages 53-91, July.
    21. Stephen G Cecchetti & Richhild Moessner, 2008. "Commodity prices and inflation dynamics," BIS Quarterly Review, Bank for International Settlements, December.
    22. Todd E. Clark & Troy Davig, 2008. "An empirical assessment of the relationships among inflation and short- and long-term expectations," Research Working Paper RWP 08-05, Federal Reserve Bank of Kansas City.
    23. Tatom, John, 2011. "Inflation and asset prices," MPRA Paper 34606, University Library of Munich, Germany.
    24. Stanley Fischer, 2008. "General discussion : the role of liquidity in financial crises," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 423-430.
    25. Sohei Kaihatsu & Jouchi Nakajima, 2015. "Has Trend Inflation Shifted?: An Empirical Analysis with a Regime-Switching Model," Bank of Japan Working Paper Series 15-E-3, Bank of Japan.
    26. Jean-Charles Rochet, 2008. "Commentary : rethinking capital regulation," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 473-483.

  38. Michael T. Kiley, 2008. "Monetary policy actions and long-run inflation expectations," Finance and Economics Discussion Series 2008-03, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Engin Kara & Ahmed Jamal Pirzada, 2015. "Risk, Intermediate Input Prices and Missing Deflation During the Great Recession," CESifo Working Paper Series 5429, CESifo.
    2. Eric Schaling & Marco Hoeberichts, 2010. "Why Speed Doesn’t Kill: Learning to Believe in Disinflation," De Economist, Springer, vol. 158(1), pages 23-42, April.
    3. Zhang, Chengsi & Clovis, Joel, 2010. "China inflation dynamics: Persistence and policy regimes," Journal of Policy Modeling, Elsevier, vol. 32(3), pages 373-388, May.
    4. Kees E. Bouwman & Elvira Sojli & Wing Wah Tham, 2012. "Aggregate Stock Market Illiquidity and Bond Risk Premia," Tinbergen Institute Discussion Papers 12-140/IV/DSF46, Tinbergen Institute.
    5. Todd E. Clark & Taeyoung Doh, 2011. "A Bayesian evaluation of alternative models of trend inflation," Research Working Paper RWP 11-16, Federal Reserve Bank of Kansas City.
    6. Alain Kabundi & Eric Schaling & Modeste Some, 2014. "Monetary Policy and Heterogeneous Inflation Expectations in South Africa," Working Papers 6107, South African Reserve Bank.
    7. Hooper, Peter & Mishkin, Frederic S. & Sufi, Amir, 2020. "Prospects for inflation in a high pressure economy: Is the Phillips curve dead or is it just hibernating?," Research in Economics, Elsevier, vol. 74(1), pages 26-62.
    8. Michael T. Kiley, 2008. "Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    9. Del Negro, Marco & Eusepi, Stefano, 2011. "Fitting observed inflation expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 35(12), pages 2105-2131.
    10. Todd E. Clark & Troy Davig, 2008. "An empirical assessment of the relationships among inflation and short- and long-term expectations," Research Working Paper RWP 08-05, Federal Reserve Bank of Kansas City.
    11. Pierre L Siklos, 2010. "Relative Price Shocks, Inflation Expectations, and the Role of Monetary Policy," RBA Annual Conference Volume (Discontinued), in: Renée Fry & Callum Jones & Christopher Kent (ed.),Inflation in an Era of Relative Price Shocks, Reserve Bank of Australia.
    12. Michael T. Kiley, 2009. "Inflation expectations, uncertainty, the Phillips Curve, and monetary policy," Finance and Economics Discussion Series 2009-15, Board of Governors of the Federal Reserve System (U.S.).
    13. Clark, Todd E. & Doh, Taeyoung, 2014. "Evaluating alternative models of trend inflation," International Journal of Forecasting, Elsevier, vol. 30(3), pages 426-448.

  39. Michael T. Kiley & Jean-Philippe Laforte & Rochelle M. Edge, 2008. "The Sources of Fluctuations in Residential Investment: A View from a Policy-Oriented DSGE Model of the U.S. Economic," 2008 Meeting Papers 990, Society for Economic Dynamics.

    Cited by:

    1. Goodness C. Aye & Rangan Gupta & Stephen M. Miller & Mehmet Balcilar, 2014. "Forecasting US Real Private Residential Fixed Investment Using a Large Number of Predictors," Working papers 2014-10, University of Connecticut, Department of Economics.
    2. Michael Kiley & Jean-Philippe Laforte & Rochelle Edge, 2009. "Investment Shocks and the Business Cycle: The View from a Policy-Oriented DSGE model," 2009 Meeting Papers 148, Society for Economic Dynamics.
    3. Nombulelo Gumata & Alain Kabundi & Eliphas Ndou, 2013. "Important channels of transmission of monetary policy shock in South Africa," Working Papers 6021, South African Reserve Bank.
    4. Jane K. Dokko & Brian M. Doyle & Skander J. van den Heuvel & Michael T. Kiley & Jinill Kim & Shane M. Sherlund & Jae W. Sim, 2009. "Monetary policy and the housing bubble," Finance and Economics Discussion Series 2009-49, Board of Governors of the Federal Reserve System (U.S.).
    5. Svensson, Lars E.O., 2010. "Inflation Targeting," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 22, pages 1237-1302, Elsevier.
    6. Michael T. Kiley, 2010. "Output gaps," Finance and Economics Discussion Series 2010-27, Board of Governors of the Federal Reserve System (U.S.).
    7. Naik, Prasad A., 2015. "Marketing Dynamics: A Primer on Estimation and Control," Foundations and Trends(R) in Marketing, now publishers, vol. 9(3), pages 175-266, December.
    8. Michael T. Kiley, 2008. "Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    9. Marco Ratto & Werner Roeger & Jan in 't Veld, 2010. "Using a DSGE model to look at the recent boom-bust cycle in the US," European Economy - Economic Papers 2008 - 2015 397, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.

  40. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2007. "Documentation of the Research and Statistics Division’s estimated DSGE model of the U.S. economy: 2006 version," Finance and Economics Discussion Series 2007-53, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Henzel, Steffen R. & Mayr, Johannes, 2013. "The mechanics of VAR forecast pooling—A DSGE model based Monte Carlo study," The North American Journal of Economics and Finance, Elsevier, vol. 24(C), pages 1-24.
    2. Michael T. Kiley & Jean-Philippe Laforte & Rochelle M. Edge, 2008. "The Sources of Fluctuations in Residential Investment: A View from a Policy-Oriented DSGE Model of the U.S. Economic," 2008 Meeting Papers 990, Society for Economic Dynamics.
    3. Wolters, Maik H., 2013. "Evaluating point and density forecasts of DSGE models," Economics Working Papers 2013-03, Christian-Albrechts-University of Kiel, Department of Economics.
    4. Wieland, Volker & Taylor, John B., 2010. "Surprising comparative properties of monetary models: Results from a new model database," Working Paper Series 1261, European Central Bank.
    5. Michael Kiley & Jean-Philippe Laforte & Rochelle Edge, 2009. "Investment Shocks and the Business Cycle: The View from a Policy-Oriented DSGE model," 2009 Meeting Papers 148, Society for Economic Dynamics.
    6. Jordi Galí & Frank Smets & Rafael Wouters, 2011. "Unemployment in an estimated new Keynesian model," Economics Working Papers 1266, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 2011.
    7. Jordi Galí, 2010. "The Return of the Wage Phillips Curve," NBER Working Papers 15758, National Bureau of Economic Research, Inc.
    8. Kenji Nishizaki & Toshitaka Sekine & Yoichi Ueno, 2014. "Chronic Deflation in Japan," Asian Economic Policy Review, Japan Center for Economic Research, vol. 9(1), pages 20-39, January.
    9. Andreas Beyer & Vitor Gaspar & Christina Gerberding & Otmar Issing, 2013. "Opting Out of the Great Inflation: German Monetary Policy after the Breakdown of Bretton Woods," NBER Chapters, in: The Great Inflation: The Rebirth of Modern Central Banking, pages 301-346, National Bureau of Economic Research, Inc.
    10. Jesús Fernández-Villaverde & Pablo Guerrón-Quintana & Juan F. Rubio-Ramírez, 2010. "Fortune or Virtue: Time-Variant Volatilities Versus Parameter Drifting in U.S. Data," PIER Working Paper Archive 10-015, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    11. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2009. "A comparision of forecast, simple reduced-form models, and a DSGE model," CAMA Working Papers 2009-03, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    12. Ida, Daisuke & Okano, Mitsuhiro, 2023. "Optimal monetary policy delegation in a small-open new Keynesian model with robust control," Economic Modelling, Elsevier, vol. 120(C).
    13. Benjamin Keen, 2009. "Output, Inflation, and Interest Rates in an Estimated Optimizing Model of Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(2), pages 327-343, April.
    14. Boivin, Jean & Kiley, Michael T. & Mishkin, Frederic S., 2010. "How Has the Monetary Transmission Mechanism Evolved Over Time?," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 8, pages 369-422, Elsevier.
    15. Wieland, Volker & Wolters, Maik H., 2010. "The diversity of forecasts from macroeconomic models of the U.S. economy," CFS Working Paper Series 2010/08, Center for Financial Studies (CFS).
    16. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2010. "A comparison of forecast performance between Federal Reserve staff forecasts, simple reduced-form models, and a DSGE model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(4), pages 720-754.
    17. Michael T. Kiley, 2010. "Output gaps," Finance and Economics Discussion Series 2010-27, Board of Governors of the Federal Reserve System (U.S.).
    18. Takuji Fueki & Ichiro Fukunaga & Hibiki Ichiue & Toyoichiro Shirota, 2010. "Measuring Potential Growth with an Estimated DSGE Model of Japan's Economy," Bank of Japan Working Paper Series 10-E-13, Bank of Japan.
    19. Eilev S. Jansen, 2010. "Wealth effects on consumption in financial crises: the case of Norway," Discussion Papers 616, Statistics Norway, Research Department.
    20. William T. Gavin, 2010. "Editor's introduction," Review, Federal Reserve Bank of St. Louis, vol. 92(May), pages 225-228.
    21. Volker Wieland, 2012. "Model comparison and robustness: a proposal for policy analysis after the financial crisis," Chapters, in: Robert M. Solow & Jean-Philippe Touffut (ed.), What’s Right with Macroeconomics?, chapter 2, pages 33-67, Edward Elgar Publishing.
    22. Jordi Galí, 2008. "Introduction to Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework," Introductory Chapters, in: Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press.
    23. Mr. Jan Vlcek & Mr. Scott Roger, 2012. "Macrofinancial Modeling At Central Banks: Recent Developments and Future Directions," IMF Working Papers 2012/021, International Monetary Fund.
    24. Michael T. Kiley, 2008. "Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    25. Binder, Michael & Lieberknecht, Philipp & Quintana, Jorge & Wieland, Volker, 2017. "Model uncertainty in macroeconomics: On the implications of financial frictions," IMFS Working Paper Series 114, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    26. Michael T. Kiley, 2009. "Inflation expectations, uncertainty, the Phillips Curve, and monetary policy," Finance and Economics Discussion Series 2009-15, Board of Governors of the Federal Reserve System (U.S.).
    27. Burgess, Stephen & Fernandez-Corugedo, Emilio & Groth, Charlotta & Harrison, Richard & Monti, Francesca & Theodoridis, Konstantinos & Waldron, Matt, 2013. "The Bank of England's forecasting platform: COMPASS, MAPS, EASE and the suite of models," Bank of England working papers 471, Bank of England.
    28. Jesús Fernández-Villaverde, 2008. "Horizons of Understanding: A Review of Ray Fair's Estimating How the Macroeconomy Works," Journal of Economic Literature, American Economic Association, vol. 46(3), pages 685-703, September.
    29. Jordi Galí, 2015. "Introduction," Introductory Chapters, in: Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework and Its Applications Second edition, volume 1, Princeton University Press.

  41. Michael T. Kiley, 2007. "Habit persistence, non-separability between consumption and leisure, or rule-of thumb consumers: which accounts for the predictability of consumption growth?," Finance and Economics Discussion Series 2007-48, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Michael T. Kiley & Jean-Philippe Laforte & Rochelle M. Edge, 2008. "The Sources of Fluctuations in Residential Investment: A View from a Policy-Oriented DSGE Model of the U.S. Economic," 2008 Meeting Papers 990, Society for Economic Dynamics.
    2. Tobias Cwik, 2012. "Fiscal consolidation using the example of Germany," Finance and Economics Discussion Series 2012-80, Board of Governors of the Federal Reserve System (U.S.).
    3. Kilponen Juha, 2012. "Consumption, Leisure and Borrowing Constraints," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(1), pages 1-25, May.
    4. Yanfei Pan & Marian Rizov, 2022. "Consumer Behaviour in Sourcing Meals during COVID-19: Implications for Business and Marketing," Sustainability, MDPI, vol. 14(21), pages 1-20, October.
    5. Yvonne Adema & Lorenzo Pozzi, 2012. "Business Cycle Fluctuations and Private Savings in OECD Countries: A Panel Data Analysis," Tinbergen Institute Discussion Papers 12-144/VI, Tinbergen Institute.
    6. Buffie, Edward F., 2013. "The Taylor principle fights back, Part I," Journal of Economic Dynamics and Control, Elsevier, vol. 37(12), pages 2771-2795.
    7. Tesfaselassie, Mewael F., 2011. "Trend growth and the dynamic effects of government spending," Kiel Working Papers 1678, Kiel Institute for the World Economy (IfW Kiel).
    8. Tomas Havranek & Anna Sokolova, 2016. "Do Consumers Really Follow a Rule of Thumb? Three Thousand Estimates from 130 Studies Say “Probably Not”," Working Papers IES 2016/15, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2016.
    9. Tino Berger & Lorenzo Pozzi, 2023. "Cyclical consumption," Tinbergen Institute Discussion Papers 23-064/VI, Tinbergen Institute.
    10. Bhatt, Vipul & Kishor, Kundan & Marfatia, Hardik, 2017. "Estimating excess sensitivity and habit persistence in consumption using Greenbook forecast as an instrument," MPRA Paper 79748, University Library of Munich, Germany.
    11. Hessler, Andrew, 2023. "Unobserved components model estimates of credit cycles: Tests and predictions," Journal of Financial Stability, Elsevier, vol. 66(C).
    12. Leroux, Anke D. & Martin, Vance L. & Zheng, Hao, 2018. "Addressing water shortages by force of habit," Resource and Energy Economics, Elsevier, vol. 53(C), pages 42-61.
    13. Stracca Livio, 2017. "The Euler equation around the world," The B.E. Journal of Macroeconomics, De Gruyter, vol. 17(2), pages 1-9, June.
    14. Julian Thimme, 2017. "Intertemporal Substitution In Consumption: A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 226-257, February.
    15. Gerdie Everaert & Lorenzo Pozzi & Ruben Schoonackers, 2016. "On The Stability Of The Excess Sensitivity Of Aggregate Consumption Growth In The Us," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 16/917, Ghent University, Faculty of Economics and Business Administration.
    16. Mandelman, Federico S., 2013. "Monetary and exchange rate policy under remittance fluctuations," Journal of Development Economics, Elsevier, vol. 102(C), pages 128-147.
    17. Orlando Gomes, 2021. "Hand-to-mouth consumers, rule-of-thumb savers, and optimal control," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 16(2), pages 229-263, April.
    18. Kilponen, Juha & Vilmunen, Jouko & Vähämaa, Oskari, 2013. "Estimating intertemporal elasticity of substitution in a sticky price model," Bank of Finland Research Discussion Papers 9/2013, Bank of Finland.
    19. Hasui Kohei, 2021. "Trend Growth and Robust Monetary Policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 21(2), pages 449-472, June.
    20. Edge, Rochelle M. & Kiley, Michael T. & Laforte, Jean-Philippe, 2008. "Natural rate measures in an estimated DSGE model of the U.S. economy," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2512-2535, August.
    21. Glenn D. Rudebusch & Eric T. Swanson, 2012. "The Bond Premium in a DSGE Model with Long-Run Real and Nominal Risks," American Economic Journal: Macroeconomics, American Economic Association, vol. 4(1), pages 105-143, January.
    22. Javier Andrés & José E.Boscá & Javier Ferri, 2015. "Household Debt and Fiscal Multipliers," Working Papers 2015-01, FEDEA.
    23. Jonathan Lecznar & Thomas A. Lubik, 2017. "Real Rates and Consumption Smoothing in a Low Interest Rate Environment: The Case of Japan," Working Paper 17-8, Federal Reserve Bank of Richmond.
    24. Dovchinsuren, Khaliun, 2023. "How does excessive volatility of consumption vary across countries?," Japan and the World Economy, Elsevier, vol. 67(C).
    25. Hess T. Chung & Michael T. Kiley & Jean-Philippe Laforte, 2010. "Documentation of the Estimated, Dynamic, Optimization-based (EDO) model of the U.S. economy: 2010 version," Finance and Economics Discussion Series 2010-29, Board of Governors of the Federal Reserve System (U.S.).
    26. Francisco Alvarez-Cuadrado & Jose Maria Casado & Jose Maria Labeaga, 2016. "Envy and Habits: Panel Data Estimates of Interdependent Preferences," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(4), pages 443-469, August.
    27. Jianjia He & Shengmin Liu & Tingting Li & Thi Hoai Thuong Mai, 2021. "The Positive Effects of Unneeded Consumption Behaviour on Consumers during the COVID-19 Pandemic," IJERPH, MDPI, vol. 18(12), pages 1-17, June.
    28. Sena Durguner, 2018. "Variations in farm consumption and their relationship to income: an empirical investigation of Illinois farm households," Applied Economics, Taylor & Francis Journals, vol. 50(9), pages 990-1005, February.
    29. Kaixing Huang & Qianqian Hong, 2024. "The impact of global warming on obesity," Journal of Population Economics, Springer;European Society for Population Economics, vol. 37(3), pages 1-32, September.
    30. Bamikole, Oluwafemi, 2013. "The Habit Persistence Hypothesis: Empirical Evidence from Jamaica," MPRA Paper 57077, University Library of Munich, Germany.
    31. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2007. "Documentation of the Research and Statistics Division’s estimated DSGE model of the U.S. economy: 2006 version," Finance and Economics Discussion Series 2007-53, Board of Governors of the Federal Reserve System (U.S.).
    32. J r my Boccanfuso, 2022. "Consumption Response Heterogeneity and Dynamics with an Inattention Region," Working Papers wp1172, Dipartimento Scienze Economiche, Universita' di Bologna.
    33. Tesfaselassie, Mewael F., 2014. "Trend growth and learning about monetary policy rules," Journal of Economic Dynamics and Control, Elsevier, vol. 41(C), pages 241-256.
    34. Vipul Bhatt & N. Kundan Kishor & Hardik Marfatia, 2020. "Estimating Excess Sensitivity and Habit Persistence in Consumption Using Greenbook Forecasts," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(2), pages 257-284, April.
    35. Kilponen, Juha & Vilmunen, Jouko & Vähämaa, Oskari, 2021. "Revisiting intertemporal elasticity of substitution in a sticky price model," Bank of Finland Research Discussion Papers 9/2021, Bank of Finland.
    36. Gerdie Everaert & Lorenzo Pozzi, 2010. "The Stickiness of Aggregate Consumption Growth in OECD Countries: A Panel Data Analysis," Tinbergen Institute Discussion Papers 10-049/2, Tinbergen Institute, revised 14 Oct 2011.
    37. Daria Pignalosa, 2021. "The Euler Equation Approach: Critical Implications of Recent Developments in the Theory of Intertemporal Choice," Bulletin of Political Economy, Bulletin of Political Economy, vol. 15(1), pages 1-43, June.

  42. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2007. "Natural rate measures in an estimated DSGE model of the U.S. economy," Finance and Economics Discussion Series 2007-08, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Luca Guerrieri & Dale Henderson & Jinill Kim, 2014. "Modeling Investment‐Sector Efficiency Shocks: When Does Disaggregation Matter?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(3), pages 891-917, August.
    2. Álvarez, Luis J. & Gómez-Loscos, Ana, 2018. "A menu on output gap estimation methods," Journal of Policy Modeling, Elsevier, vol. 40(4), pages 827-850.
    3. Wolters, Maik H., 2013. "Evaluating point and density forecasts of DSGE models," Economics Working Papers 2013-03, Christian-Albrechts-University of Kiel, Department of Economics.
    4. Tobias Cwik, 2012. "Fiscal consolidation using the example of Germany," Finance and Economics Discussion Series 2012-80, Board of Governors of the Federal Reserve System (U.S.).
    5. Enrico S. Levrero, 2019. "Estimates of the Natural Rate of Interest and the Stance of Monetary Policies: A Critical Assessment," Working Papers Series 88, Institute for New Economic Thinking.
    6. Andrea Gerali & Alberto Locarno & Alessandro Notarpietro & Massimiliano Pisani, 2015. "Every cloud has a silver lining. The sovereign crisis and Italian potential output," Temi di discussione (Economic working papers) 1010, Bank of Italy, Economic Research and International Relations Area.
    7. Boscá, J.E. & Doménech, R. & Ferri, J., 2011. "Search, Nash bargaining and rule-of-thumb consumers," European Economic Review, Elsevier, vol. 55(7), pages 927-942.
    8. Frederic S. Mishkin, 2008. "Does Stabilizing Inflation Contribute To Stabilizing Economic Activity?," NBER Working Papers 13970, National Bureau of Economic Research, Inc.
    9. Alban Moura, 2022. "Why you should never use the Hodrick-Prescott Filter: Comment," BCL working papers 162, Central Bank of Luxembourg.
    10. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2020. "Online Appendix to "Output Gap, Monetary Policy Trade-offs, and Financial Frictions"," Online Appendices 20-29, Review of Economic Dynamics.
    11. Matteo Iacoviello & Stefano Neri, 2010. "Housing Market Spillovers: Evidence from an Estimated DSGE Model," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 125-164, April.
    12. Hirose, Yasuo & Kurozumi, Takushi, 2011. "Do investment-specific technological changes matter for business fluctuations? Evidence from Japan," MPRA Paper 32944, University Library of Munich, Germany.
    13. Andrew Martinez, 2017. "Testing for Differences in Path Forecast Accuracy: Forecast-Error Dynamics Matter," Working Papers (Old Series) 1717, Federal Reserve Bank of Cleveland.
    14. Stefan Leist, 2013. "Driving Forces of the Swiss Output Gap," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(IV), pages 493-531, December.
    15. Yasuo Hirose & Takeki Sunakawa, 2023. "The Natural Rate of Interest in a Non-linear DSGE Model," International Journal of Central Banking, International Journal of Central Banking, vol. 19(1), pages 301-340, March.
    16. Brand, Claus & Mazelis, Falk, 2019. "Taylor-rule consistent estimates of the natural rate of interest," Working Paper Series 2257, European Central Bank.
    17. Krustev, Georgi, 2019. "The natural rate of interest and the financial cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 162(C), pages 193-210.
    18. Martin Seneca, 2010. "A DSGE model for Iceland," Economics wp50, Department of Economics, Central bank of Iceland.
    19. Hilde Bjørnland & Kai Leitemo & Junior Maih, 2011. "Estimating the natural rates in a simple New Keynesian framework," Empirical Economics, Springer, vol. 40(3), pages 755-777, May.
    20. Lorenzo Burlon & Paolo D'Imperio, 2019. "The euro-area output gap through the lens of a DSGE model," Questioni di Economia e Finanza (Occasional Papers) 477, Bank of Italy, Economic Research and International Relations Area.
    21. Hess T. Chung & Jean-Philippe Laforte & David L. Reifschneider & John C. Williams, 2011. "Have we underestimated the likelihood and severity of zero lower bound events?," Working Paper Series 2011-01, Federal Reserve Bank of San Francisco.
    22. Nikolsko-Rzhevskyy, Alex, 2008. "Monetary Policy Evaluation in Real Time: Forward-Looking Taylor Rules Without Forward-Looking Data," MPRA Paper 11352, University Library of Munich, Germany.
    23. Sra Chuenchoksan & Don Nakornthab & Surach Tanboon, 2008. "Uncertainty in the Estimation of Potential Output and Implications for the Conduct of Monetary Policy," Working Papers 2008-04, Monetary Policy Group, Bank of Thailand.
    24. José Luis Torres Chacon, 2015. "Introduction to Dynamic Macroeconomic General Equilibrium Models," Vernon Press Titles in Economics, Vernon Art and Science Inc, edition 2, number 54.
    25. Sandra Daudignon & Oreste Tristani, 2022. "Monetary policy and the drifting natural rate of interest," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 22/1057, Ghent University, Faculty of Economics and Business Administration.
    26. Patrick Fève & Julien Matheron & Jean-Guillaume Sahuc, 2010. "Inflation Target Shocks and Monetary Policy Inertia in the Euro Area," Post-Print hal-01612708, HAL.
    27. Benjamin Keen, 2009. "Output, Inflation, and Interest Rates in an Estimated Optimizing Model of Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(2), pages 327-343, April.
    28. Neri, Stefano & Gerali, Andrea, 2019. "Natural rates across the Atlantic," Journal of Macroeconomics, Elsevier, vol. 62(C).
    29. Wolters, Maik Hendrik, 2018. "How the baby boomers' retirement wave distorts model-based output gap estimates," IMFS Working Paper Series 121, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    30. Wieland, Volker & Cwik, Tobias J. & Müller, Gernot J. & Schmidt, Sebastian & Wolters, Maik H., 2012. "A new comparative approach to macroeconomic modeling and policy analysis," CFS Working Paper Series 2012/03, Center for Financial Studies (CFS).
    31. Hall, Jamie, 2012. "Consumption dynamics in general equilibrium," MPRA Paper 43933, University Library of Munich, Germany.
    32. Vetlov, Igor & Pisani, Massimiliano & Hlédik, Tibor & Jonsson, Magnus & Kucsera, Henrik, 2011. "Potential output in DSGE models," Working Paper Series 1351, European Central Bank.
    33. Boivin, Jean & Kiley, Michael T. & Mishkin, Frederic S., 2010. "How Has the Monetary Transmission Mechanism Evolved Over Time?," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 8, pages 369-422, Elsevier.
    34. Adolfson, Malin & Laséen, Stefan & Lindé, Jesper & Svensson, Lars E.O., 2014. "Monetary policy trade-offs in an estimated open-economy DSGE model," Journal of Economic Dynamics and Control, Elsevier, vol. 42(C), pages 33-49.
    35. Susanto Basu & John G. Fernald, 2009. "What do we know (and not know) about potential output?," Review, Federal Reserve Bank of St. Louis, vol. 91(Jul), pages 187-214.
    36. Wieland, Volker & Wolters, Maik H., 2010. "The diversity of forecasts from macroeconomic models of the U.S. economy," CFS Working Paper Series 2010/08, Center for Financial Studies (CFS).
    37. Raffaella Giacomini, 2014. "Economic theory and forecasting: lessons from the literature," CeMMAP working papers 41/14, Institute for Fiscal Studies.
    38. Alejandro Justiniano & Giorgio E. Primiceri, 2010. "Measuring the equilibrium real interest rate," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 34(Q I), pages 14-27.
    39. Bechný Jakub, 2019. "Output gap in the Czech economy: DSGE approach," Review of Economic Perspectives, Sciendo, vol. 19(2), pages 137-156, June.
    40. Semih Tumen & Deren Unalmis & Ibrahim Unalmis & Ms. Filiz D Unsal, 2014. "Taxing Fossil Fuels under Speculative Storage," IMF Working Papers 2014/228, International Monetary Fund.
    41. Sala, Luca & Söderström, Ulf & Trigari, Antonella, 2008. "Monetary policy under uncertainty in an estimated model with labor market frictions," Journal of Monetary Economics, Elsevier, vol. 55(5), pages 983-1006, July.
    42. Camilo E Tovar, 2008. "DSGE models and central banks," BIS Working Papers 258, Bank for International Settlements.
    43. Schmidt, Sebastian & Wieland, Volker, 2013. "The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods and Macroeconomic Policy Evaluation," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 1439-1512, Elsevier.
    44. Michał Brzoza-Brzezina & Jacek Kotłowski, 2014. "Measuring the natural yield curve," Applied Economics, Taylor & Francis Journals, vol. 46(17), pages 2052-2065, June.
    45. Ran Spiegler, 2021. "A Simple Model of Monetary Policy under Phillips-Curve Causal Disagreements," Papers 2105.08988, arXiv.org.
    46. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    47. Feng Zhu, 2016. "Understanding the changing equilibrium real interest rates in Asia-Pacific," BIS Working Papers 567, Bank for International Settlements.
    48. Giorgio Primiceri & Andrea Tambalotti & Alejandro Justiniano, 2011. "Is there a trade-off between inflation and output stabilization?," 2011 Meeting Papers 280, Society for Economic Dynamics.
    49. Moura, Alban, 2020. "Total factor productivity and the measurement of neutral technology," MPRA Paper 99357, University Library of Munich, Germany.
    50. Giacomini, Raffaella, 2014. "Economic theory and forecasting: lessons from the literature," CEPR Discussion Papers 10201, C.E.P.R. Discussion Papers.
    51. Alban Moura, 2018. "Investment Shocks, Sticky Prices, and the Endogenous Relative Price of Investment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 27, pages 48-63, January.
    52. Marco Del Negro & Domenico Giannone & Marc P. Giannoni & Andrea Tambalotti, 2017. "Safety, Liquidity, and the Natural Rate of Interest," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 235-316.
    53. Stefan Leist & Klaus Neusser, 2010. "Measuring the Natural Output Level by DSGE Models: An Empirical Investigation for Switzerland," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 146(I), pages 275-300, March.
    54. Böhl, Gregor & Strobel, Felix, 2020. "US business cycle dynamics at the zero lower bound," Discussion Papers 65/2020, Deutsche Bundesbank.
    55. Francesca Vinci & Omar Licandro, 2020. "Switching-track after the Great Recession," Discussion Papers 2020/02, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    56. Andrew T. Levin, 2008. "Commentary on \\"Optimal monetary policy under uncertainty: a Markov jump-linear-quadratic approach\\"," Review, Federal Reserve Bank of St. Louis, vol. 90(Jul), pages 301-306.
    57. Kose, M. Ayhan & Claessens, Stijn, 2017. "Asset Prices and Macroeconomic Outcomes: A Survey," CEPR Discussion Papers 12460, C.E.P.R. Discussion Papers.
    58. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2010. "A comparison of forecast performance between Federal Reserve staff forecasts, simple reduced-form models, and a DSGE model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(4), pages 720-754.
    59. Zarazúa Juárez, Carlos Alberto, 2023. "Understanding the natural rate of interest for a small open economy," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(3).
    60. Bindseil, Ulrich & Domnick, Clemens & Zeuner, Jörg, 2015. "Critique of accommodating central bank policies and the 'expropriation of the saver' - A review," Occasional Paper Series 161, European Central Bank.
    61. Moisa Altar & Ciprian Necula & Gabriel Bobeica, 2009. "A Robust Assessment of the Romanian Business Cycle," Advances in Economic and Financial Research - DOFIN Working Paper Series 28, Bucharest University of Economics, Center for Advanced Research in Finance and Banking - CARFIB.
    62. Umino, Shingo, 2014. "Real-time estimation of the equilibrium real interest rate: Evidence from Japan," The North American Journal of Economics and Finance, Elsevier, vol. 28(C), pages 17-32.
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    64. Wieland, Volker & Wolters, Maik Hendrik, 2012. "Forecasting and policy making," IMFS Working Paper Series 62, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
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    78. Takuji Fueki & Ichiro Fukunaga & Hibiki Ichiue & Toyoichiro Shirota, 2010. "Measuring Potential Growth with an Estimated DSGE Model of Japan's Economy," Bank of Japan Working Paper Series 10-E-13, Bank of Japan.
    79. Hess T. Chung & Michael T. Kiley & Jean-Philippe Laforte, 2010. "Documentation of the Estimated, Dynamic, Optimization-based (EDO) model of the U.S. economy: 2010 version," Finance and Economics Discussion Series 2010-29, Board of Governors of the Federal Reserve System (U.S.).
    80. Romain Bouis & Łukasz Rawdanowicz & Jean-Paul Renne & Shingo Watanabe & Ane Kathrine Christensen, 2013. "The Effectiveness of Monetary Policy since the Onset of the Financial Crisis," OECD Economics Department Working Papers 1081, OECD Publishing.
    81. Yasuo Hirose & Saori Naganuma, 2007. "Structural Estimation of the Output Gap: A Bayesian DSGE Approach for the U.S. Economy," Bank of Japan Working Paper Series 07-E-24, Bank of Japan.
    82. Gonzalo Fernandez-de-Córdoba & José L. Torres, 2009. "Forecasting the Spanish economy with an Augmented VAR-DSGE model," Working Papers 2009-1, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center.
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    84. Haykaz Igityan & Hovhannes Manukyan, 2020. "Fitting Armenian Data to the Simple DSGE Model with Permanent Productivity Growth," Working Papers 14, Central Bank of the Republic of Armenia.
    85. Jarkko Jääskelä & Rebecca McKibbin, 2010. "Learning in an Estimated Small Open Economy Model," RBA Research Discussion Papers rdp2010-02, Reserve Bank of Australia.
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    90. Francesco Furlanetto & Paolo Gelain & Marzie Sanjani, 2020. "Output Gap, Monetary Policy Trade-offs, and Financial Frictions," Working Papers 20-05, Federal Reserve Bank of Cleveland.
    91. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2007. "Documentation of the Research and Statistics Division’s estimated DSGE model of the U.S. economy: 2006 version," Finance and Economics Discussion Series 2007-53, Board of Governors of the Federal Reserve System (U.S.).
    92. Pinilla Barrera, Alejandro & Hurtado Rendón, Álvaro & Velásquez Ceballos, Hermilson, 2024. "Variation Index of the Output Gap (VIOG): A New Way of Testing Potential GDP Estimations," Documentos de Trabajo de Valor Público 2, Universidad EAFIT.
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  43. Michael T. Kiley, 2006. "A quantitative comparison of sticky-price and sticky-information models of price setting," Finance and Economics Discussion Series 2006-45, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Jean-Philippe Laforte, 2005. "Pricing models: a Bayesian DSGE approach to the U.S. economy," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    2. Michael T. Kiley & Jean-Philippe Laforte & Rochelle M. Edge, 2008. "The Sources of Fluctuations in Residential Investment: A View from a Policy-Oriented DSGE Model of the U.S. Economic," 2008 Meeting Papers 990, Society for Economic Dynamics.
    3. Donald L. Kohn, 2008. "Lessons for central bankers from a Phillips curve framework," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    4. James M. Nason & Gregor W. Smith, 2013. "Measuring The Slowly Evolving Trend In Us Inflation With Professional Forecasts," Working Paper 1316, Economics Department, Queen's University.
    5. Lanne, Markku & Luoma, Arto & Luoto, Jani, 2008. "A Naïve Sticky Information Model of Households’ Inflation Expectations," MPRA Paper 8663, University Library of Munich, Germany.
    6. Carrera, César, 2012. "Estimating Information Rigidity using Firms’ Survey Data," Working Papers 2012-004, Banco Central de Reserva del Perú.
    7. Frederic S. Mishkin, 2008. "Does Stabilizing Inflation Contribute To Stabilizing Economic Activity?," NBER Working Papers 13970, National Bureau of Economic Research, Inc.
    8. Huw Dixon & Engin Kara, 2010. "Can We Explain Inflation Persistence in a Way that Is Consistent with the Microevidence on Nominal Rigidity?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(1), pages 151-170, February.
    9. Matheron, Julien & Poilly, Céline, 2009. "How well does a small structural model with sticky prices and wages fit postwar U.S. data?," Economic Modelling, Elsevier, vol. 26(1), pages 266-284, January.
    10. Chou, Jenyu & Easaw, Joshy & Minford, Patrick, 2023. "Does inattentiveness matter for DSGE modeling? An empirical investigation," Economic Modelling, Elsevier, vol. 118(C).
    11. Michael Kiley & Jean-Philippe Laforte & Rochelle Edge, 2009. "Investment Shocks and the Business Cycle: The View from a Policy-Oriented DSGE model," 2009 Meeting Papers 148, Society for Economic Dynamics.
    12. Kiley, Michael T., 2015. "An evaluation of the inflationary pressure associated with short- and long-term unemployment," Economics Letters, Elsevier, vol. 137(C), pages 5-9.
    13. Jonas Dovern & Joerg Doepke & Ulrich Fritsche & Jirka Slacalek, 2006. "Sticky Information Phillips Curves: European Evidence," Macroeconomics and Finance Series 200604, University of Hamburg, Department of Socioeconomics.
    14. Yingying XU & Zhixin LIU & Jaime ORTIZ, 2018. "Actual and Expected Inflation in the U.S.: A Time-Frequency View," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 42-62, December.
    15. Yuriy Gorodnichenko & Olivier Coibion, 2010. "What can survey forecasts tell us about informational rigidities?," 2010 Meeting Papers 277, Society for Economic Dynamics.
    16. Sophocles Mavroeidis & Mikkel Plagborg-Møller & James H. Stock, 2014. "Empirical Evidence on Inflation Expectations in the New Keynesian Phillips Curve," Journal of Economic Literature, American Economic Association, vol. 52(1), pages 124-188, March.
    17. Dixon, Huw & Kara, Engin, 2006. "Understanding inflation persistence: a comparison of different models," Working Paper Series 672, European Central Bank.
    18. Gaspar, Vitor & Levin, Andrew & Smets, Frank & Martins, Fernando Manuel, 2007. "Evidence from Surveys of Price-Setting Managers: Policy Lessons and Directions for Ongoing Research," CEPR Discussion Papers 6227, C.E.P.R. Discussion Papers.
    19. Takushi Kurozumi & Ryohei Oishi & Willem Van Zandweghe, 2022. "Sticky Information Versus Sticky Prices Revisited: A Bayesian VAR-GMM Approach," Working Papers 22-34, Federal Reserve Bank of Cleveland.
    20. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    21. Hess Chung & Edward Herbst & Michael T. Kiley, 2014. "Effective Monetary Policy Strategies in New Keynesian Models: A Re-examination," NBER Working Papers 20611, National Bureau of Economic Research, Inc.
    22. Oleg Korenok, 2005. "Empirical Comparison of Sticky Price and Sticky Information Models," Working Papers 0501, VCU School of Business, Department of Economics.
    23. Michael T. Kiley, 2014. "Policy Paradoxes in the New Keynesian Model," Finance and Economics Discussion Series 2014-29, Board of Governors of the Federal Reserve System (U.S.).
    24. Stylianos Asimakopoulos & Marco Lorusso & Luca Pieroni, 2021. "Can public spending boost private consumption?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(3), pages 1275-1313, November.
    25. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2009. "A comparision of forecast, simple reduced-form models, and a DSGE model," CAMA Working Papers 2009-03, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    26. Michael T. Kiley, 2008. "Monetary policy actions and long-run inflation expectations," Finance and Economics Discussion Series 2008-03, Board of Governors of the Federal Reserve System (U.S.).
    27. John M. Roberts, 2001. "How well does the New Keynesian sticky-price model fit the data?," Finance and Economics Discussion Series 2001-13, Board of Governors of the Federal Reserve System (U.S.).
    28. N. Gregory Mankiw & Ricardo Reis, 2010. "Imperfect Information and Aggregate Supply," NBER Working Papers 15773, National Bureau of Economic Research, Inc.
    29. Yingying Xu & Zhixin Liu & Zichao Jia & Chi-Wei Su, 2017. "Is time-variant information stickiness state-dependent?," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 16(3), pages 169-187, December.
    30. Lena Dräger, 2011. "Endogenous Persistence with Recursive Inattentiveness," Macroeconomics and Finance Series 201103, University of Hamburg, Department of Socioeconomics.
    31. Benjamin Keen, 2009. "Output, Inflation, and Interest Rates in an Estimated Optimizing Model of Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(2), pages 327-343, April.
    32. Orlando Gomes, 2012. "Transitional Dynamics in Sticky-Information General Equilibrium Models," Computational Economics, Springer;Society for Computational Economics, vol. 39(4), pages 387-407, April.
    33. Drissi, Ramzi & Ghassan, Hassan Belkacem, 2018. "Sticky Price versus Sticky Information Price: Empirical Evidence in the New Keynesian Setting," MPRA Paper 95174, University Library of Munich, Germany, revised Apr 2019.
    34. Christian Gillitzer, 2016. "The Sticky Information Phillips Curve: Evidence for Australia," The Economic Record, The Economic Society of Australia, vol. 92(299), pages 548-567, December.
    35. Jmaes McNeil, 2020. "Monetary policy and the term structure of Inflation expectations with information frictions," Working Papers daleconwp2020-07, Dalhousie University, Department of Economics.
    36. George-Marios Angeletos & Zhen Huo & Karthik A. Sastry, 2020. "Imperfect Macroeconomic Expectations: Evidence and Theory," NBER Working Papers 27308, National Bureau of Economic Research, Inc.
    37. Waldyr D Areosa, 2016. "What drives inflation expectations in Brazil? Public versus private information," BIS Working Papers 544, Bank for International Settlements.
    38. Alvarez González, Luis Julián, 2008. "What Do Micro Price Data Tell Us on the Validity of the New Keynesian Phillips Curve?," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 2, pages 1-36.
    39. Tule, Moses K. & Salisu, Afees A. & Ebuh, Godday U., 2020. "A test for inflation persistence in Nigeria using fractional integration & fractional cointegration techniques," Economic Modelling, Elsevier, vol. 87(C), pages 225-237.
    40. Benedetto Molinari, 2010. "Sticky Information and Inflation Persistence: Evidence from U.S. Data," Working Papers 10.09, Universidad Pablo de Olavide, Department of Economics.
    41. Emmanuel De Veirman, 2009. "What Makes the Output–Inflation Trade‐Off Change? The Absence of Accelerating Deflation in Japan," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(6), pages 1117-1140, September.
    42. Meyer-Gohde, Alexander, 2007. "Solving linear rational expectations models with lagged expectations quickly and easily," SFB 649 Discussion Papers 2007-069, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    43. M. Murat Arslan, 2013. "Optimal Monetary Policy With The Sticky Information Model Of Price Adjustment: Inflation Or Price-Level Targeting?," Bulletin of Economic Research, Wiley Blackwell, vol. 65, pages 106-129, May.
    44. Hahn, Volker & Marencak, Michal, 2018. "Price Points and Price Dynamics," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181516, Verein für Socialpolitik / German Economic Association.
    45. Carrera, César & Ramírez-Rondán, N.R., 2019. "Inflation, Information Rigidity, And The Sticky Information Phillips Curve," Macroeconomic Dynamics, Cambridge University Press, vol. 23(7), pages 2597-2615, October.
    46. J. A. Carrillo, 2011. "How Well Does Sticky Information Explain the Dynamics of Inflation, Output, and Real Wages?," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 11/724, Ghent University, Faculty of Economics and Business Administration.
    47. Ricardo Reis, 2009. "A Sticky-Information General-Equilibrium Model for Policy Analysis," NBER Working Papers 14732, National Bureau of Economic Research, Inc.
    48. Emmanuel De Veirman, 2007. "Which Nonlinearity in the Phillips Curve? The Absence of Accelerating Deflation in Japan," Economics Working Paper Archive 536, The Johns Hopkins University,Department of Economics.
    49. Andrade, Philippe & Le Bihan, Hervé, 2013. "Inattentive professional forecasters," Journal of Monetary Economics, Elsevier, vol. 60(8), pages 967-982.
    50. Arslan, M. Murat, 2010. "Relative importance of sticky prices and sticky information in price setting," Economic Modelling, Elsevier, vol. 27(5), pages 1124-1135, September.
    51. Benjamin D. Keen & Evan F. Koenig, 2009. "How robust are popular models of nominal frictions?," Working Papers 0903, Federal Reserve Bank of Dallas.
    52. James M. Nason & Gregor W. Smith, 2013. "Reverse Kalman filtering U.S. inflation with sticky professional forecasts," Working Papers 13-34, Federal Reserve Bank of Philadelphia.
    53. Olivier Coibion & Yuriy Gorodnichenko, 2010. "Strategic Interaction among Heterogeneous Price-Setters in an Estimated DSGE Model," Working Papers 93, Department of Economics, College of William and Mary.
    54. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2010. "A comparison of forecast performance between Federal Reserve staff forecasts, simple reduced-form models, and a DSGE model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(4), pages 720-754.
    55. Oleg Korenok & Stanislav Radchenko & Norman R. Swanson, 2006. "International Evidence on the Efficacy of new-Keynesian Models of Inflation Persistence," Working Papers 0602, VCU School of Business, Department of Economics.
    56. Givens, Gregory E. & Salemi, Michael K., 2015. "Inferring monetary policy objectives with a partially observed state," Journal of Economic Dynamics and Control, Elsevier, vol. 52(C), pages 190-208.
    57. Thorvardur Tjörvi Ólafsson, 2006. "The New Keynesian Phillips Curve: In Search of Improvements and Adaptation to the Open Economy," Economics wp31_tjorvi, Department of Economics, Central bank of Iceland.
    58. Czudaj, Robert L., 2022. "Heterogeneity of beliefs and information rigidity in the crude oil market: Evidence from survey data," European Economic Review, Elsevier, vol. 143(C).
    59. Trabandt, Mathias, 2003. "Sticky Information vs. Sticky Prices : A Horse Race in a DSGE Framework," SFB 373 Discussion Papers 2003,41, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
    60. Edge, Rochelle M. & Kiley, Michael T. & Laforte, Jean-Philippe, 2008. "Natural rate measures in an estimated DSGE model of the U.S. economy," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2512-2535, August.
    61. Gregory E. Givens, 2012. "Estimating Central Bank Preferences under Commitment and Discretion," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(6), pages 1033-1061, September.
    62. N. Gregory Mankiw & Ricardo Reis, 2006. "Sticky Information in General Equilibrium," NBER Working Papers 12605, National Bureau of Economic Research, Inc.
    63. Hess T. Chung & Michael T. Kiley & Jean-Philippe Laforte, 2010. "Documentation of the Estimated, Dynamic, Optimization-based (EDO) model of the U.S. economy: 2010 version," Finance and Economics Discussion Series 2010-29, Board of Governors of the Federal Reserve System (U.S.).
    64. Casarin, Roberto & Costantini, Mauro & Paradiso, Antonio, 2021. "On the role of dependence in sticky price and sticky information Phillips curve: Modelling and forecasting," Economic Modelling, Elsevier, vol. 105(C).
    65. Jean‐Philippe Laforte, 2007. "Pricing Models: A Bayesian DSGE Approach for the U.S. Economy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(s1), pages 127-154, February.
    66. Alexis Maka & Fernando De Holanda Barbosa, 2014. "Phillips Curves: An Encompassing Test," Anais do XLI Encontro Nacional de Economia [Proceedings of the 41st Brazilian Economics Meeting] 061, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    67. Meyer-Gohde, Alexander, 2010. "Linear rational-expectations models with lagged expectations: A synthetic method," Journal of Economic Dynamics and Control, Elsevier, vol. 34(5), pages 984-1002, May.
    68. Bill Russell & Anindya Banerjee & Issam Malki & Natalia Ponomareva, 2011. "A Multiple Break Panel Approach To Estimating United States Phillips Curves," Dundee Discussion Papers in Economics 252, Economic Studies, University of Dundee.
    69. David L. Reifschneider & William L. Wascher & David W. Wilcox, 2013. "Aggregate supply in the United States: recent developments and implications for the conduct of monetary policy," Finance and Economics Discussion Series 2013-77, Board of Governors of the Federal Reserve System (U.S.).
    70. Ahrens, Steffen & Hartmann, Matthias, 2014. "State-dependence vs. timedependence: An empirical multi-country investigation of price sluggishness," Kiel Working Papers 1907, Kiel Institute for the World Economy (IfW Kiel).
    71. Arslan, Mesut Murat, 2007. "Dynamics of Sticky Information and Sticky Price Models in a New Keynesian DSGE Framework," MPRA Paper 5269, University Library of Munich, Germany.
    72. George-Marios Angeletos & Chen Lian, 2016. "Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination," NBER Working Papers 22297, National Bureau of Economic Research, Inc.
    73. Frederic S. Mishkin, 2007. "Will monetary policy become more of a science?," Finance and Economics Discussion Series 2007-44, Board of Governors of the Federal Reserve System (U.S.).
    74. Christian Gillitzer, 2015. "The Sticky Information Phillips Curve: Evidence for Australia," RBA Research Discussion Papers rdp2015-04, Reserve Bank of Australia.
    75. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2007. "Documentation of the Research and Statistics Division’s estimated DSGE model of the U.S. economy: 2006 version," Finance and Economics Discussion Series 2007-53, Board of Governors of the Federal Reserve System (U.S.).
    76. Edward S. Knotek Ii, 2010. "A Tale of Two Rigidities: Sticky Prices in a Sticky-Information Environment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(8), pages 1543-1564, December.
    77. Todd E. Clark & Troy Davig, 2008. "An empirical assessment of the relationships among inflation and short- and long-term expectations," Research Working Paper RWP 08-05, Federal Reserve Bank of Kansas City.
    78. Olivier Coibion & Yuriy Gorodnichenko, 2015. "Information Rigidity and the Expectations Formation Process: A Simple Framework and New Facts," American Economic Review, American Economic Association, vol. 105(8), pages 2644-2678, August.
    79. Russell, Bill, 2011. "Non-stationary inflation and panel estimates of United States short and long-run Phillips curves," Journal of Macroeconomics, Elsevier, vol. 33(3), pages 406-419, September.
    80. Nlemfu Mukoko, Jean Blaise, 2016. "On the Welfare Costs of Monetary Policy," MPRA Paper 72479, University Library of Munich, Germany, revised Jul 2016.
    81. Alexandru MANOLE & Ana CARP & Doina AVRAM & Doina BUREA, 2017. "Some Aspects Regarding The Forecasting Information System Activity," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(4), pages 9-14, April.
    82. Michael T. Kiley, 2009. "Inflation expectations, uncertainty, the Phillips Curve, and monetary policy," Finance and Economics Discussion Series 2009-15, Board of Governors of the Federal Reserve System (U.S.).
    83. Boskabadi, Elahe, 2022. "Economic policy uncertainty and forecast bias in the survey of professional forecasters," MPRA Paper 115081, University Library of Munich, Germany.
    84. Meyer-Gohde, Alexander & Tzaawa-Krenzler, Mary, 2023. "Sticky information and the Taylor principle," IMFS Working Paper Series 189, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
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  44. Hannes Suppanz & Michael Wise & Michael Kiley, 2004. "Product Market Competition and Economic Performance in the United States," OECD Economics Department Working Papers 398, OECD Publishing.

    Cited by:

    1. Kyoji Fukao & Cristiano Perugini, 2021. "The Long‐Run Dynamics of the Labor Share in Japan," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 67(2), pages 445-480, June.
    2. International Monetary Fund, 2005. "Finland: Selected Issues," IMF Staff Country Reports 2005/036, International Monetary Fund.
    3. Grossmann, Volker & Steger, Thomas M., 2008. "Anti-competitive conduct, in-house R&D, and growth," European Economic Review, Elsevier, vol. 52(6), pages 987-1008, August.

  45. Michael Kiley, 2004. "Is Moderate-To-High Inflation Inherently Unstable?," Econometric Society 2004 North American Summer Meetings 193, Econometric Society.

    Cited by:

    1. William A. Barnett & Giovanni Bella & Taniya Ghosh & Paolo Mattana & Beatrice Venturi, 2020. "Shilnikov Chaos, Low Interest Rates, and New Keynesian Macroeconomics," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202001, University of Kansas, Department of Economics, revised Jan 2020.
    2. Gbaguidi DAVID, 2011. "Expectations Impact On The Effectiveness Of The Inflation-Real Activity Trade-Off," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 2(2), pages 141-181.
    3. Frederic S. Mishkin, 2008. "Does Stabilizing Inflation Contribute To Stabilizing Economic Activity?," NBER Working Papers 13970, National Bureau of Economic Research, Inc.
    4. Kobayashi, Teruyoshi & Muto, Ichiro, 2013. "A Note On Expectational Stability Under Nonzero Trend Inflation," Macroeconomic Dynamics, Cambridge University Press, vol. 17(3), pages 681-693, April.
    5. Takushi Kurozumi & Willem Van Zandweghe, 2012. "Firm-specific labor, trend inflation, and equilibrium stability," Research Working Paper RWP 12-09, Federal Reserve Bank of Kansas City.
    6. Timothy Cogley & Argia M. Sbordone, 2006. "Trend inflation and inflation persistence in the New Keynesian Phillips curve," Staff Reports 270, Federal Reserve Bank of New York.
    7. Michael T. Kiley, 2024. "Monetary Policy, Employment Shortfalls, and the Natural Rate Hypothesis," Finance and Economics Discussion Series 2024-032, Board of Governors of the Federal Reserve System (U.S.).
    8. Barnett, William A. & Bella, Giovanni & Ghosh, Taniya & Mattana, Paolo & Venturi, Beatrice, 2022. "Is policy causing chaos in the United Kingdom?," Economic Modelling, Elsevier, vol. 108(C).
    9. Ricardo M. Masolo & Francesca Monti, 2017. "Ambiguity, Monetary Policy and Trend Inflation," Discussion Papers 1709, Centre for Macroeconomics (CFM).
    10. Kobayashi, Teruyoshi & Muto, Ichiro, 2009. "Expectational stability under non-zero trend inflation," MPRA Paper 17082, University Library of Munich, Germany.
    11. Jonathan Benchimol & Irfan Qureshi, 2020. "Time-varying money demand and real balance effects," Post-Print hal-02876657, HAL.
    12. Olivier Coibion & Yuriy Gorodnichenko, 2008. "Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation," NBER Working Papers 14621, National Bureau of Economic Research, Inc.
    13. Takushi Kurozumi, 2016. "Endogenous Price Stickiness, Trend Inflation, and Macroeconomic Stability," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(6), pages 1267-1291, September.
    14. Yasuo Hirose & Takushi Kurozumi & Willem Van Zandweghe, 2020. "Monetary Policy and Macroeconomic Stability Revisited," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 255-274, July.
    15. Karras, Georgios, 2017. "Is the relationship between inflation and its volatility asymmetric? US evidence, 1800–2016," The Journal of Economic Asymmetries, Elsevier, vol. 16(C), pages 79-86.
    16. Barnett, William A. & Eryilmaz, Unal, 2022. "Monetary Policy and Determinacy: An Inquiry in Open Economy New Keynesian Framework," MPRA Paper 111567, University Library of Munich, Germany.
    17. Guido Ascari & Efrem Castelnuovo & Lorenza Rossi, 2010. "Calvo vs. Rotemberg in a Trend Inflation World: An Empirical Investigation," Quaderni di Dipartimento 108, University of Pavia, Department of Economics and Quantitative Methods.
    18. Guido Ascari & Tiziano Ropele, 2009. "Trend Inflation, Taylor Principle and Indeterminacy," Quaderni di Dipartimento 097, University of Pavia, Department of Economics and Quantitative Methods.
    19. Sergio A. Lago Alves, 2018. "Monetary Policy, Trend Inflation, and Unemployment Volatility," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(4), pages 637-673, June.
    20. Yao, Fang, 2011. "Monetary Policy, Trend Inflation and Inflation Persistence," VfS Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48718, Verein für Socialpolitik / German Economic Association.
    21. M. Alper Cenesiz, 2007. "A New Cost Channel of Monetary Policy," Money Macro and Finance (MMF) Research Group Conference 2006 68, Money Macro and Finance Research Group.
    22. Jonas E. Arias & Guido Ascari & Nicola Branzoli & Efrem Castelnuovo, 2018. "Positive Trend In ation and Determinacy in a Medium-Sized New Keynesian Model," "Marco Fanno" Working Papers 0224, Dipartimento di Scienze Economiche "Marco Fanno".
    23. William A. Barnett & Unal Eryilmaz, 2023. "Monetary Policy and Determinacy: An Inquiry into Open Economy New Keynesian Macrodynamics," Open Economies Review, Springer, vol. 34(2), pages 217-253, April.
    24. Fabio Milani, 2005. "Adaptive Learning and Inflation Persistence," Macroeconomics 0506013, University Library of Munich, Germany.
    25. Engin Kara & Tony Yates, 2021. "A Case against a 4% Inflation Target," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(5), pages 1097-1119, August.
    26. Kurozumi, Takushi, 2014. "Trend inflation, sticky prices, and expectational stability," Journal of Economic Dynamics and Control, Elsevier, vol. 42(C), pages 175-187.
    27. Pontiggia, D., 2012. "Optimal long-run inflation and the New Keynesian model," Journal of Macroeconomics, Elsevier, vol. 34(4), pages 1077-1094.
    28. Yao, Fang, 2011. "Monetary policy, trend inflation and inflation Persistence," SFB 649 Discussion Papers 2011-008, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    29. Benati, Luca, 2009. "Long run evidence on money growth and inflation," Working Paper Series 1027, European Central Bank.
    30. Olivier Coibion & Yuriy Gorodnichenko, 2010. "Strategic Interaction among Heterogeneous Price-Setters in an Estimated DSGE Model," Working Papers 93, Department of Economics, College of William and Mary.
    31. Laura Inés D’Amato & María Lorena Garegnani, 2013. "How Persistent is Inflation in Argentina?: Inflation Regimes and Price Dynamics in the Last 50 Years," Investigación Conjunta-Joint Research, in: Laura Inés D'Amato & Enrique López Enciso & María Teresa Ramírez Giraldo (ed.), Inflationary Dynamics, Persistence, and Prices and Wages Formation, edition 1, volume 1, chapter 4, pages 81-104, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    32. Volker Hahn, 2022. "Price Dispersion and the Costs of Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(2-3), pages 459-491, March.
    33. Olivier Coibion & Yuriy Gorodnichenko & Johannes Wieland, 2012. "The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound?," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 79(4), pages 1371-1406.
    34. Benati, Luca, 2010. "Are policy counterfactuals based on structural VAR's reliable?," Working Paper Series 1188, European Central Bank.
    35. Laura Inés D’Amato & María Lorena Garegnani, 2013. "¿Cuán persistente es la inflación en Argentina?: regímenes inflacionarios y dinámica de precios en los últimos 50 años," Investigación Conjunta-Joint Research, in: Laura Inés D'Amato & Enrique López Enciso & María Teresa Ramírez Giraldo (ed.), Dinámica inflacionaria, persistencia y formación de precios y salarios, edition 1, chapter 4, pages 91-115, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    36. Georgios Karras, 2015. "Low Inflation vs. Stable Inflation: Evidence from the UK, 1688–2009," Scottish Journal of Political Economy, Scottish Economic Society, vol. 62(5), pages 505-517, November.
    37. Gabriel Karagiannides & Christos Liambas, 2019. "Determinacy and Taylor’s Rule with Different Degrees of Trade Openness in a Semi-New Keynesian Model," Applied Economics and Finance, Redfame publishing, vol. 6(6), pages 43-53, November.
    38. Georgios Karras, 2017. "Can a Higher Inflation Target Reduce Inflation Volatility?," Metroeconomica, Wiley Blackwell, vol. 68(4), pages 777-791, November.
    39. Michael T. Kiley, 2024. "Monetary Policy Strategies to Foster Price Stability and a Strong Labor Market," Finance and Economics Discussion Series 2024-033, Board of Governors of the Federal Reserve System (U.S.).
    40. Milani, Fabio, 2007. "Expectations, learning and macroeconomic persistence," Journal of Monetary Economics, Elsevier, vol. 54(7), pages 2065-2082, October.
    41. Takushi Kurozumi & Willem Van Zandweghe, 2016. "Kinked Demand Curves, the Natural Rate Hypothesis, and Macroeconomic Stability," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 240-257, April.
    42. Fernando Morra, 2014. "Moderando Inflaciones Moderadas," IIE, Working Papers 106, IIE, Universidad Nacional de La Plata.
    43. Riccardo M. Masolo & Francesca Monti, 2015. "Monetary Policy with Ambiguity Averse Agents," Discussion Papers 1506, Centre for Macroeconomics (CFM).
    44. Gbaguidi, David, 2012. "La courbe de Phillips : temps d’arbitrage et/ou arbitrage de temps," L'Actualité Economique, Société Canadienne de Science Economique, vol. 88(1), pages 87-119, mars.
    45. Michael T. Kiley, 2022. "Anchored or Not: How Much Information Does 21st Century Data Contain on Inflation Dynamics?," Finance and Economics Discussion Series 2022-016, Board of Governors of the Federal Reserve System (U.S.).
    46. Loberto, Michele & Perricone, Chiara, 2017. "Does trend inflation make a difference?," Economic Modelling, Elsevier, vol. 61(C), pages 351-375.
    47. Ascari, Guido & Phaneuf, Louis & Sims, Eric R., 2018. "On the welfare and cyclical implications of moderate trend inflation," Journal of Monetary Economics, Elsevier, vol. 99(C), pages 56-71.
    48. Tambakis, D.N., 2008. "Optimal Monetary Policy with a Convex Phillips Curve," Cambridge Working Papers in Economics 0859, Faculty of Economics, University of Cambridge.
    49. Rotemberg, Julio J., 2005. "Customer anger at price increases, changes in the frequency of price adjustment and monetary policy," Journal of Monetary Economics, Elsevier, vol. 52(4), pages 829-852, May.
    50. Weber, Henning, 2011. "Optimal inflation and firms' productivity dynamics," Kiel Working Papers 1685, Kiel Institute for the World Economy (IfW Kiel).
    51. Kazeem Bello Ajide & Olorunfemi Yasiru Alimi, 2023. "Inflation, inflation volatility and terrorism in Africa," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 493-509, January.
    52. Taisuke Nakata, 2013. "Welfare costs of shifting trend inflation," Finance and Economics Discussion Series 2013-12, Board of Governors of the Federal Reserve System (U.S.).
    53. Yasuo Hirose & Takushi Kurozumi & Willem Van Zandweghe, 2015. "Monetary policy, trend inflation, and the Great Moderation: an alternative interpretation: comment based on system estimation," Research Working Paper RWP 15-17, Federal Reserve Bank of Kansas City.
    54. WenShwo Fang & Stephen M. Miller & Chih-Chuan Yeh, 2009. "Does a Threshold Inflation Rate Exist? Quantile Inferences for Inflation and Its Variability," Working Papers 0921, University of Nevada, Las Vegas , Department of Economics, revised Dec 2009.
    55. Tomás Castagnino & Laura Inés D’Amato, 2013. "Régimen y dinámica inflacionaria subyacente: ¿comovimiento generalizado o ajuste de precios relativos?," Investigación Conjunta-Joint Research, in: Laura Inés D'Amato & Enrique López Enciso & María Teresa Ramírez Giraldo (ed.), Dinámica inflacionaria, persistencia y formación de precios y salarios, edition 1, chapter 2, pages 11-42, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    56. Lorna Katusiime, 2018. "Private Sector Credit and Inflation Volatility," Economies, MDPI, vol. 6(2), pages 1-13, April.
    57. Giovanni Nicolo, 2020. "Monetary Policy, Self-Fulfilling Expectations and the U.S. Business Cycle," Finance and Economics Discussion Series 2020-035, Board of Governors of the Federal Reserve System (U.S.).
    58. Guido Ascari & Argia M. Sbordone, 2013. "The Macroeconomics of Trend Inflation," DEM Working Papers Series 053, University of Pavia, Department of Economics and Management.
    59. Ascari, Guido & Florio, Anna & Gobbi, Alessandro, 2018. "High trend inflation and passive monetary detours," Bank of Finland Research Discussion Papers 6/2018, Bank of Finland.
    60. Joshua Brault & Hashmat Khan & Louis Phaneuf & Jean Gardy Victor, 2021. "US Postwar Macroeconomic Fluctuations Without Indeterminacy," Carleton Economic Papers 21-01, Carleton University, Department of Economics, revised 25 May 2021.
    61. Michael T. Kiley & Frederic S. Mishkin, 2024. "Central Banking Post Crises," Finance and Economics Discussion Series 2024-035, Board of Governors of the Federal Reserve System (U.S.).
    62. Fernandez-Corugedo Emilio, 2007. "The Impact of Trend Inflation in an Open Economy Model," Working Papers 2007-15, Banco de México.
    63. Karagiannides, Gabriel, 2018. "Exploring the Determinacy Dynamics in an Open Economy," MPRA Paper 89268, University Library of Munich, Germany.
    64. Tomás Castagnino & Laura Inés D’Amato, 2013. "Regimes and Underlying Inflation Dynamics: Generalized Comovement or Relative Price Adjustment?," Investigación Conjunta-Joint Research, in: Laura Inés D'Amato & Enrique López Enciso & María Teresa Ramírez Giraldo (ed.), Inflationary Dynamics, Persistence, and Prices and Wages Formation, edition 1, volume 1, chapter 2, pages 9-36, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    65. Olivier Coibion & Yuriy Gorodnichenko & Johannes Wieland, 2010. "The Optimal Inflation Rate in New Keynesian Models," Working Papers 91, Department of Economics, College of William and Mary.
    66. William A. Barnett & Giovanni Bella & Taniya Ghosh & Paolo Mattana & Beatrice Venturi, 2021. "Chaos in the UK New Keynesian Macroeconomy," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202119, University of Kansas, Department of Economics, revised Sep 2021.
    67. Bakhshi, Hasan & Khan, Hashmat & Burriel-Llombart, Pablo & Rudolf, Barbara, 2007. "The New Keynesian Phillips curve under trend inflation and strategic complementarity," Journal of Macroeconomics, Elsevier, vol. 29(1), pages 37-59, March.
    68. Pang, Ke & Shiamptanis, Christos, 2024. "Is the Bank of Canada concerned about inflation or the state of the economy?," Journal of International Money and Finance, Elsevier, vol. 140(C).
    69. Olmos, Lorena & Sanso Frago, Marcos, 2014. "Monetary policy and growth with trend inflation and financial frictions," MPRA Paper 54606, University Library of Munich, Germany.
    70. Zhao, Junzhu, 2023. "Wealth in utility, the Taylor principle and determinacy," Journal of Macroeconomics, Elsevier, vol. 76(C).
    71. René Cabral-Torres, "undated". "Monetary and Fiscal Policy Coordination," Discussion Papers 05/28, Department of Economics, University of York.
    72. Fernando Morra, 2014. "Moderando Inflaciones Moderadas," Department of Economics, Working Papers 106, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
    73. Weber, Henning, 2012. "The optimal inflation rate and firm-level productivity growth," Kiel Working Papers 1773, Kiel Institute for the World Economy (IfW Kiel).
    74. International Monetary Fund, 2016. "Brazil: Selected Issues," IMF Staff Country Reports 2016/349, International Monetary Fund.
    75. Gbaguidi, David Sedo, 2011. "Regime Switching in a New Keynesian Phillips Curve with Non-zero Steady-state Inflation Rate," MPRA Paper 35481, University Library of Munich, Germany.
    76. Jonas E. Arias & Guido Ascari & Nicola Branzoli & Efrem Castelnuovo, 2014. "Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation - Comment," International Finance Discussion Papers 1127, Board of Governors of the Federal Reserve System (U.S.).
    77. Laurence BLOCH, 2009. "The New Keynesian Phillips Curve with Non Zero Steady State Inflation and Entry of Firms," Working Papers 2009-03, Center for Research in Economics and Statistics.

  46. Michael T. Kiley, 2003. "How should unemployment benefits respond to the business cycle?," Finance and Economics Discussion Series 2003-01, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Camille Landais & Pascal Michaillat & Emmanuel Saez, 2010. "A Macroeconomic Theory of Optimal Unemployment Insurance," NBER Working Papers 16526, National Bureau of Economic Research, Inc.
    2. Moyen, Stéphane & Stähler, Nikolai & Winkler, Fabian, 2019. "Optimal unemployment insurance and international risk sharing," European Economic Review, Elsevier, vol. 115(C), pages 144-171.
    3. Stanislav Rabinovich & Kurt Mitman, 2011. "Pro-cyclical Unemployment Benefits? Optimal Policy in an Equilibrium Business Cycle Model," 2011 Meeting Papers 1247, Society for Economic Dynamics.
    4. Tatsiramos, K. & van Ours, J.C., 2012. "Labor Market Effects of Unemployment Insurance Design," Other publications TiSEM 0550ec64-1dd7-4fd8-a559-7, Tilburg University, School of Economics and Management.
    5. Walter Nicholson & Karen Needels, "undated". "The EUC08 Program in Theoretical and Historical Perspective," Mathematica Policy Research Reports 9046cb11c3aa44c8a036a6e38, Mathematica Policy Research.
    6. Johannes F. Schmieder & Till M. von Wachter & Stefan Bender, 2012. "The Effects of Extended Unemployment Insurance over the Business Cycle: Evidence from Regression Discontinuity Estimates Over Twenty Years," NBER Working Papers 17813, National Bureau of Economic Research, Inc.
    7. Sanchez, Juan M., 2006. "Optimal State-Contingent Unemployment Insurance," MPRA Paper 2535, University Library of Munich, Germany.
    8. Mark Strøm Kristoffersen, 2012. "Business Cycle Dependent Unemployment Benefits with Wealth Heterogeneity and Precautionary Savings," Economics Working Papers 2012-19, Department of Economics and Business Economics, Aarhus University.
    9. Konstantinos Tatsiramos & Jan C. Ours, 2014. "Labor Market Effects Of Unemployment Insurance Design," Journal of Economic Surveys, Wiley Blackwell, vol. 28(2), pages 284-311, April.
    10. Ek, Susanne, 2012. "Unemployment benefits or taxes: How should policy makers redistribute income over the business cycle?," Working Paper Series, Center for Labor Studies 2012:4, Uppsala University, Department of Economics.
    11. Saez, Emmanuel & Landais, Camille & Michaillat, Pascal, 2010. "Optimal Unemployment Insurance over the Business Cycle," CEPR Discussion Papers 8132, C.E.P.R. Discussion Papers.
    12. Filges, Trine & Kennes, John & Larsen, Birthe & Tranæs, Torben, 2006. "Social Preferences and Labor Market Policy," Working Papers 13-2006, Copenhagen Business School, Department of Economics.
    13. Torben M. Andersen & Michael Svarer, 2010. "Business Cycle Dependent Unemployment Insurance," Economics Working Papers 2010-16, Department of Economics and Business Economics, Aarhus University.
    14. Jeremy Schwartz, 2013. "Unemployment Insurance and the Business Cycle: What Adjustments are Needed?," Southern Economic Journal, John Wiley & Sons, vol. 79(3), pages 680-702, January.
    15. Kroft, Kory & Notowidigdo, Matthew J., 2012. "Should Unemployment Insurance Vary with the Unemployment Rate? Theory and Evidence," CLSSRN working papers clsrn_admin-2012-26, Vancouver School of Economics, revised 29 Oct 2012.
    16. Jeremy Schwartz, 2019. "The Job Search Intensity Supply Curve: How Labor Market Conditions Affect Job Search Effort," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 45(2), pages 269-300, April.
    17. Moyen, Stéphane & Stähler, Nikolai, 2014. "Unemployment Insurance And The Business Cycle: Should Benefit Entitlement Duration React To The Cycle?," Macroeconomic Dynamics, Cambridge University Press, vol. 18(3), pages 497-525, April.
    18. Moyen, Stéphane & Stähler, Nikolai, 2009. "Unemployment insurance and the business cycle: prolong benefit entitlements in bad times?," Discussion Paper Series 1: Economic Studies 2009,30, Deutsche Bundesbank.
    19. Schwartz Jeremy, 2020. "Job competition, human capital, and the lock-in effect: can unemployment insurance efficiently allocate human capital," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(1), pages 1-23, January.
    20. Pollak, Andreas, 2013. "Employment Insurance and the Business Cycle," MPRA Paper 49358, University Library of Munich, Germany.
    21. Jeremy Schwartz, 2012. "Unemployment Insurance and the Business Cycle: What Adjustments are Needed?," EcoMod2012 3674, EcoMod.
    22. Walter Nicholson & Karen Needels & Heinrich Hock, 2014. "Unemployment Compensation During the Great Recession: Theory and Evidence," National Tax Journal, National Tax Association;National Tax Journal, vol. 67(1), pages 187-218, March.
    23. Tito Boeri & Jan van Ours, 2013. "The Economics of Imperfect Labor Markets: Second Edition," Economics Books, Princeton University Press, edition 1, number 10142.

  47. Michael T. Kiley, 2001. "An analytical approach to the welfare cost of business cycles and the benefit from activist monetary policy," Finance and Economics Discussion Series 2001-41, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Anthony M. Diercks, 2015. "The Equity Premium, Long-Run Risk, & Optimal Monetary Policy," Finance and Economics Discussion Series 2015-87, Board of Governors of the Federal Reserve System (U.S.).
    2. Mr. Daehaeng Kim & Chul-In Lee, 2007. "Government Size and Intersectoral Income Fluctuation: An International Panel Analysis," IMF Working Papers 2007/093, International Monetary Fund.
    3. Preston J. Miller & Gary H. Stern, 2004. "Avoiding significant monetary policy mistakes," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 28(Dec), pages 2-9.
    4. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    5. Mariano M. Croce, 2006. "Welfare Costs, Long Run Consumption Risk, and a Production Economy," 2006 Meeting Papers 582, Society for Economic Dynamics.
    6. Pengfei Wang & Yi Wen, 2007. "Endogenous volatility, endogenous growth, and large welfare gains from stabilization policies," Working Papers 2006-032, Federal Reserve Bank of St. Louis.

  48. Michael T. Kiley, 2000. "Stock prices and fundamentals in a production economy," Finance and Economics Discussion Series 2000-05, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Matteo Iacoviello, 2002. "House prices, borrowing constraints and monetary policy in the business cycle," Boston College Working Papers in Economics 542, Boston College Department of Economics, revised 06 Dec 2004.
    2. Pierre Lafourcade, 2003. "Asset prices and rents in a GE model with imperfect competition," Finance and Economics Discussion Series 2003-60, Board of Governors of the Federal Reserve System (U.S.).
    3. Carl D. Lantz & Pierre-Daniel G. Sarte, 2001. "Consumption, savings, and the meaning of the wealth effect in general equilibrium," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 53-71.
    4. Jakob B Madsen & E Philip Davis, 2003. "Equity Prices, Productivity Growth, And ‘The New Economy’," Public Policy Discussion Papers 03-04, Economics and Finance Section, School of Social Sciences, Brunel University.
    5. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    6. Jason G. Cummins, 2004. "A new approach to the valuation of intangible capital," Finance and Economics Discussion Series 2004-17, Board of Governors of the Federal Reserve System (U.S.).
    7. Kose, M. Ayhan & Claessens, Stijn, 2017. "Asset Prices and Macroeconomic Outcomes: A Survey," CEPR Discussion Papers 12460, C.E.P.R. Discussion Papers.
    8. Simon Gilchrist & Masashi Saito, 2008. "Expectations, Asset Prices, and Monetary Policy: The Role of Learning," NBER Chapters, in: Asset Prices and Monetary Policy, pages 45-102, National Bureau of Economic Research, Inc.

  49. Michael T. Kiley, 1999. "Computers and growth with costs of adjustment: will the future look like the past?," Finance and Economics Discussion Series 1999-36, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Daniel Ştefan Armeanu & Georgeta Vintilă & Ştefan Cristian Gherghina, 2017. "Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries," Sustainability, MDPI, vol. 10(1), pages 1-22, December.
    2. Karl Aiginger & Michael Landesmann, 2002. "Competitive Economic Performance: The European View," WIFO Working Papers 179, WIFO.
    3. Mićić Ljubiša, 2017. "Digital Transformation and Its Influence on GDP," Economics, Sciendo, vol. 5(2), pages 135-147, December.
    4. Vijselaar, Focco & Backé, Peter, 2002. "New technologies and productivity growth in the euro area," Working Paper Series 122, European Central Bank.
    5. Dale W. Jorgenson, 2001. "Information Technology and the U.S. Economy," Higher School of Economics Economic Journal Экономический журнал Высшей школы экономики, CyberLeninka;Федеральное государственное автономное образовательное учреждение высшего образования «Национальный исследовательский университет «Высшая школа экономики», vol. 5(1), pages 3-34.
    6. John Simon & Sharon Wardrop, 2002. "Australian Use of Information Technology and its Contribution to Growth," RBA Research Discussion Papers rdp2002-02, Reserve Bank of Australia.
    7. Susanto Basu & John G. Fernald & Matthew D. Shapiro, 2001. "Productivity growth in the 1990s: technology, utilization, or adjustment," Working Paper Series WP-01-04, Federal Reserve Bank of Chicago.
    8. Stephen D. Oliner & Daniel E. Sichel, 2000. "The resurgence of growth in the late 1990s: is information technology the story?," Finance and Economics Discussion Series 2000-20, Board of Governors of the Federal Reserve System (U.S.).
    9. Sedika, Wesam M. & Emamb, Waleed, 2019. "The impact of ICT capital and use on economic growth," 2nd Europe – Middle East – North African Regional ITS Conference, Aswan 2019: Leveraging Technologies For Growth 201738, International Telecommunications Society (ITS).
    10. Michael R. Pakko, 2001. "What happens when the technology growth trend changes?: transition dynamics, capital growth and the \"new economy\"," Working Papers 2001-020, Federal Reserve Bank of St. Louis.
    11. Georg Strasser, 2011. "The Efficiency of the Global Markets for Final Goods and Productive Capabilities," 2011 Meeting Papers 576, Society for Economic Dynamics.
    12. Danny Leung, 2004. "The Effect of Adjustment Costs and Organizational Change on Productivity in Canada: Evidence from Aggregate Data," Staff Working Papers 04-1, Bank of Canada.
    13. Kevin J. Stiroh, 2001. "Information technology and the U.S. productivity revival: what do the industry data say?," Staff Reports 115, Federal Reserve Bank of New York.
    14. Kevin J. Stiroh, 2001. "Is IT Driving the U.S. Productivity Revival?," International Productivity Monitor, Centre for the Study of Living Standards, vol. 2, pages 31-36, Spring.
    15. Feichtinger, G. & Hartl, R.F. & Kort, P.M. & Veliov, V.M., 2006. "Anticipation effects of technological progress on capital accumulation : A vintage capital approach," Other publications TiSEM 9a8debb0-5030-46fa-b89e-b, Tilburg University, School of Economics and Management.
    16. Argandoña, Antonio, 2001. "Nueva economía y el crecimiento económico, La," IESE Research Papers D/437, IESE Business School.
    17. Simon, John & Wright, Sharon, 2005. "L’utilisation des technologies de l’information et sa contribution à la croissance en Australie," L'Actualité Economique, Société Canadienne de Science Economique, vol. 81(1), pages 165-202, Mars-Juin.
    18. Cigan, Heidi, 2002. "The internet's contribution to progress and growth in Germany: The economic impact of the internet and the price structure of access," HWWA Reports 216, Hamburg Institute of International Economics (HWWA).
    19. Scherrer, Christoph, 2001. "New economy: Explosive growth driven by a productivity revolution?," Discussion Papers, Research Unit: Regulation of Work FS II 01-204, WZB Berlin Social Science Center.
    20. Maneejuk, Paravee & Yamaka, Woraphon, 2020. "An analysis of the impacts of telecommunications technology and innovation on economic growth," Telecommunications Policy, Elsevier, vol. 44(10).
    21. Pascal Petit, 2002. "The Roots of the New Economy: An Institutional Perspective," International Productivity Monitor, Centre for the Study of Living Standards, vol. 4, pages 39-54, Spring.
    22. Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: U.S. Economic Growth in the Information Age," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 125-236.
    23. Morrison Paul, Catherine J., 2002. "Supply and demand-driven spillovers and productivity growth," Japan and the World Economy, Elsevier, vol. 14(3), pages 285-304, August.
    24. Maryam Farhadi & Rahmah Ismail & Masood Fooladi, 2012. "Information and Communication Technology Use and Economic Growth," PLOS ONE, Public Library of Science, vol. 7(11), pages 1-7, November.
    25. Werner Roeger, 2001. "The contribution of information and communication technologies to growth in Europe and the US: A macroeconomic analysis," European Economy - Economic Papers 2008 - 2015 147, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    26. Charlotta Groth, 2005. "Estimating UK capital adjustment costs," Bank of England working papers 258, Bank of England.
    27. Nicholas Oulton, 2001. "ICT and productivity growth in the United Kingdom," Bank of England working papers 140, Bank of England.
    28. Pakko Michael R., 2005. "Changing Technology Trends, Transition Dynamics, and Growth Accounting," The B.E. Journal of Macroeconomics, De Gruyter, vol. 5(1), pages 1-42, December.
    29. James Bessen, 2002. "Technology Adoption Costs and Productivity Growth: The Transition to Information Technology," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 443-469, April.
    30. Michael T. Kiley, 2000. "Stock prices and fundamentals in a production economy," Finance and Economics Discussion Series 2000-05, Board of Governors of the Federal Reserve System (U.S.).
    31. Antonopoulos, Christos & Sakellaris, Plutarchos, 2009. "The contribution of Information and Communication Technology investments to Greek economic growth: An analytical growth accounting framework," Information Economics and Policy, Elsevier, vol. 21(3), pages 171-191, August.
    32. Hannes Leo, 2001. "ICT Investment and Growth of Output and Productivity," WIFO Working Papers 162, WIFO.
    33. Alessandra Colecchia & Paul Schreyer, 2002. "ICT Investment and Economic Growth in the 1990s: Is the United States a Unique Case? A Comparative Study of Nine OECD Countries," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 408-442, April.

  50. Michael T. Kiley, 1999. "Partial adjustment and staggered price setting," Finance and Economics Discussion Series 1999-01, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Michael T. Kiley, 1996. "The lead of output over inflation in sticky price models," Finance and Economics Discussion Series 96-33, Board of Governors of the Federal Reserve System (U.S.).
    2. Jean-Philippe Laforte, 2005. "Pricing models: a Bayesian DSGE approach to the U.S. economy," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    3. Yao, Fang, 2016. "A Note On Increasing Hazard Functions And The Monetary Transmission Mechanism," Macroeconomic Dynamics, Cambridge University Press, vol. 20(1), pages 446-459, January.
    4. Carvalho, Carlos & Schwartzman, Felipe, 2015. "Selection and monetary non-neutrality in time-dependent pricing models," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 141-156.
    5. Paustian, Matthias & Stoltenberg, Christian, 2008. "Optimal interest rate stabilization in a basic sticky-price model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3166-3191, October.
    6. Eric Jondeau & Hervé Le Bihan, 2001. "Testing for a Forward-Looking Phillips Curve. Additional Evidence from European and US data," Macroeconomics 0111005, University Library of Munich, Germany.
    7. Musy, Olivier, 2006. "Inflation persistence and the real costs of disinflation in staggered prices and partial adjustment models," Economics Letters, Elsevier, vol. 91(1), pages 50-55, April.
    8. Döpke, J. & Funke, M. & Holly, S. & Weber, S., 2008. "The Cross-Section of Output and Inflation in a Dynamic Stochastic General Equilibrium Model with Sticky Prices," Cambridge Working Papers in Economics 0853, Faculty of Economics, University of Cambridge.
    9. Chahnez Boudaya, 2006. "Stage-specific technology shocks and employment: Could we reconcile with the RBC models?," Post-Print halshs-00115791, HAL.
    10. Batini, Nicoletta & Harrison, Richard & Millard, Stephen P., 2003. "Monetary policy rules for an open economy," Journal of Economic Dynamics and Control, Elsevier, vol. 27(11), pages 2059-2094.
    11. Michael T. Kiley, 1997. "Staggered price setting and real rigidities," Finance and Economics Discussion Series 1997-46, Board of Governors of the Federal Reserve System (U.S.).
    12. Safouane Ben Aïssa & Olivier Musy, 2009. "The Dynamic Properties of Alternative Assumptions on Price Adjustment in New Keynesian Models," Working Papers hal-04140852, HAL.
    13. Karanassou, Marika & Sala, Hector & Snower, Dennis J., 2002. "A Reappraisal of the Inflation-Unemployment Tradeoff," IZA Discussion Papers 636, Institute of Labor Economics (IZA).
    14. Duarte, Margarida & Wolman, Alexander L., 2002. "Regional inflation in a currency union: fiscal policy vs. fundamentals," Working Paper Series 180, European Central Bank.
    15. Costain, James & Nakov, Anton, 2015. "Precautionary price stickiness," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 218-234.
    16. Kara, Engin, 2010. "Optimal monetary policy in the generalized Taylor economy," Journal of Economic Dynamics and Control, Elsevier, vol. 34(10), pages 2023-2037, October.
    17. Marika Karanassou & Hector Sala & Dennis J. Snower, 2010. "Phillips Curves And Unemployment Dynamics: A Critique And A Holistic Perspective," Journal of Economic Surveys, Wiley Blackwell, vol. 24(1), pages 1-51, February.
    18. Michael T. Kiley, 2006. "A quantitative comparison of sticky-price and sticky-information models of price setting," Finance and Economics Discussion Series 2006-45, Board of Governors of the Federal Reserve System (U.S.).
    19. Jangyoul Kim & Gieyoung Lim, 2007. "Staggered Nominal Contracts: Taylor Vs. Calvo," Korean Economic Review, Korean Economic Association, vol. 23, pages 65-87.
    20. Michael Dotsey, 2002. "Pitfalls in interpreting tests of backward-looking pricing in New Keynesian models," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 37-50.
    21. Huw Dixon & Engin Kara, 2007. "Persistence and Nominal Inertia in a Generalized Taylor Economy: How Longer Contracts Dominate Shorter Contracts," Discussion Papers 07-01, Department of Economics, University of Birmingham.
    22. Jondeau, Eric & Le Bihan, Herve, 2005. "Testing for the New Keynesian Phillips Curve. Additional international evidence," Economic Modelling, Elsevier, vol. 22(3), pages 521-550, May.
    23. Carlos Viana de Carvalho, 2005. "The Effects of Heterogeneity in Price Setting on Price and Inflation Inertia," Macroeconomics 0504039, University Library of Munich, Germany, revised 10 Oct 2005.
    24. Alvarez, Fernando & Lippi, Francesco & ,, 2013. "Small and large price changes and the propagation of monetary shocks," CEPR Discussion Papers 9770, C.E.P.R. Discussion Papers.
    25. Ali Dib, 2003. "An estimated Canadian DSGE model with nominal and real rigidities," Canadian Journal of Economics, Canadian Economics Association, vol. 36(4), pages 949-972, November.
    26. Jean-Pierre DANTHINE & André KURMANN, 2002. "Fair Wages in a New Keynesian Model of the Business Cycle," Cahiers de Recherches Economiques du Département d'économie 02.10, Université de Lausanne, Faculté des HEC, Département d’économie.
    27. Richard Mash, 2002. "New Keynesian Microfundations Revisited: A Generalised Calvo-Taylor Model and the Desirability of Inflation vs. Price Level Targeting," Economics Series Working Papers 109, University of Oxford, Department of Economics.
    28. Boris Hofmann & Matthias Paustian, 2005. "The Persistence and Rigidity of wages and prices," Money Macro and Finance (MMF) Research Group Conference 2005 71, Money Macro and Finance Research Group.
    29. Aguilera-Bravo, Asier & Casares, Miguel, 2019. "On staggered prices and optimal inflation," Economics Letters, Elsevier, vol. 185(C).
    30. Ascari, Guido, 2002. "Staggered Price and Trend Inflation:Some Nuisances," Royal Economic Society Annual Conference 2002 10, Royal Economic Society.
    31. Ekaterina V. Peneva, 2009. "Factor intensity and price rigidity: evidence and theory," Finance and Economics Discussion Series 2009-07, Board of Governors of the Federal Reserve System (U.S.).
    32. Keen, Benjamin D., 2004. "In search of the liquidity effect in a modern monetary model," Journal of Monetary Economics, Elsevier, vol. 51(7), pages 1467-1494, October.
    33. James Costain & Anton Nakov, 2011. "Price Adjustments in a General Model of State-Dependent Pricing," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 385-406, March.
    34. Paustian, Matthias, 2004. "Can Wage and Price Stickiness Account for Sizeable Costs of Business Cycle Fluctuations?," Bonn Econ Discussion Papers 18/2004, University of Bonn, Bonn Graduate School of Economics (BGSE).
    35. Dixon, H. D., 2009. "A unified framework for understanding and comparing dynamic wage and price-setting models," Working papers 257, Banque de France.
    36. Richard Mash, 2004. "Optimising microfoundations for observed inflation persistence," Money Macro and Finance (MMF) Research Group Conference 2003 60, Money Macro and Finance Research Group.
    37. Sharon Kozicki & Peter A. Tinsley, 2001. "Dynamic specifications in optimizing trend-deviation macro models," Research Working Paper RWP 01-03, Federal Reserve Bank of Kansas City.
    38. John Leahy, 2016. "Comment on "Are State and Time Dependent Models Really Different?"," NBER Chapters, in: NBER Macroeconomics Annual 2016, Volume 31, pages 458-464, National Bureau of Economic Research, Inc.
    39. Andrew T. Levin & Alexei Onatski & John Williams & Noah M. Williams, 2006. "Monetary Policy under Uncertainty in Micro-Founded Macroeconometric Models," NBER Chapters, in: NBER Macroeconomics Annual 2005, Volume 20, pages 229-312, National Bureau of Economic Research, Inc.
    40. Paustian, Matthias & von Hagen, Jürgen, 2012. "How relevant are nominal contracting schemes for monetary policy?," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 723-740.
    41. Michael Dotsey & Robert G. King, 2005. "Implications of State Dependent-Pricing for Dynamic Macroeconomic Models," Boston University - Department of Economics - Macroeconomics Working Papers Series WP2005-002, Boston University - Department of Economics.
    42. Hasan Bakhshi & Pablo Burriel-Llombart & Hashmat Khan & Barbara Rudolf, 2003. "Endogenous price stickiness, trend inflation, and the New Keynesian Phillips curve," Bank of England working papers 191, Bank of England.
    43. Ben Aissa, Mohamed Safouane & Musy, Olivier & Pereau, Jean-Christophe, 2007. "Modelling inflation persistence with periodicity changes in fixed and predetermined prices models," Economic Modelling, Elsevier, vol. 24(5), pages 823-838, September.
    44. Alexander L. Wolman, 1999. "Sticky prices, marginal cost, and the behavior of inflation," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 29-48.
    45. Woodford, Michael, 2009. "Information-constrained state-dependent pricing," Journal of Monetary Economics, Elsevier, vol. 56(S), pages 100-124.
    46. Thorvardur Tjörvi Ólafsson, 2006. "The New Keynesian Phillips Curve: In Search of Improvements and Adaptation to the Open Economy," Economics wp31_tjorvi, Department of Economics, Central bank of Iceland.
    47. Dixon, Huw & Kara, Engin, 2011. "Contract length heterogeneity and the persistence of monetary shocks in a dynamic generalized Taylor economy," European Economic Review, Elsevier, vol. 55(2), pages 280-292, February.
    48. Stéphane Auray & Aurélien Eyquem, 2013. "Welfare Reversals in a Monetary Union," Working Papers 1342, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    49. Zuzana Janko, 2008. "Nominal Wage Contracts, Labor Adjustment Costs and the Business Cycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(2), pages 434-448, April.
    50. Takushi Kurozumi & Willem Van Zandweghe, 2016. "Kinked Demand Curves, the Natural Rate Hypothesis, and Macroeconomic Stability," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 240-257, April.
    51. Yao, Fang, 2010. "Aggregate hazard function in price-setting: A bayesian analysis using macro data," SFB 649 Discussion Papers 2010-020, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    52. Dixon, Huw, 2006. "The distribution of contract durations across firms: a unified framework for understanding and comparing dynamic wage and price setting models," Working Paper Series 676, European Central Bank.
    53. Miguel Casares, 2007. "Monopolistic Competition, Sticky Prices, and the Minimal Mark-Up in Steady State," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0702, Departamento de Economía - Universidad Pública de Navarra.
    54. Devereux, Michael B & Yetman, James, 2003. "Predetermined Prices and the Persistent Effects of Money on Output," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 35(5), pages 729-741, October.
    55. Weber, Henning, 2011. "Optimal inflation and firms' productivity dynamics," Kiel Working Papers 1685, Kiel Institute for the World Economy (IfW Kiel).
    56. Jean‐Philippe Laforte, 2007. "Pricing Models: A Bayesian DSGE Approach for the U.S. Economy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(s1), pages 127-154, February.
    57. Matthias Paustian, 2005. "The role of contracting schemes for the welfare costs of nominal rigidities," Computing in Economics and Finance 2005 196, Society for Computational Economics.
    58. Cheng-qi Hou & Pin Wang, 2014. "An Estimation of Sectoral Price Stickiness using Aggregate Data," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 53-70, June.
    59. Richard Mash, 2004. "Optimising Microfoundations for Inflation Persistence," Economics Series Working Papers 183, University of Oxford, Department of Economics.
    60. Seidel, Gerald, 2005. "Endogenous inflation : the role of expectations and strategic interaction," Papers 05-14, Sonderforschungsbreich 504.
    61. Gaurav Saroliya, 2007. "The New Keynesian Business Cycle Achievements and Challenges," Discussion Papers 07/20, Department of Economics, University of York.
    62. Juergen von Hagen, 2008. "The Role of Contracting Schemes for Assessing the Welfare Costs of Nominal Rigidities," 2008 Meeting Papers 827, Society for Economic Dynamics.
    63. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 317-396.
    64. Wang, Peng-fei & Wen, Yi, 2006. "Another look at sticky prices and output persistence," Journal of Economic Dynamics and Control, Elsevier, vol. 30(12), pages 2533-2552, December.
    65. Gautier, E., 2008. "Les ajustements microéconomiques des prix : une synthèse des modèles théoriques et résultats empiriques," Working papers 211, Banque de France.
    66. Susanto Basu, 1998. "Technology and business cycles; how well do standard models explain the facts?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 42(Jun), pages 207-269.
    67. Juillard, Michel & Le Bihan, Herve & Millard, Stephen, 2013. "Non-uniform wage-staggering: European evidence and monetary policy implications," Bank of England working papers 477, Bank of England.
    68. Dr. Burhan Othman Hussein, 2018. "The Time Change of the Consumer Price Index Response to the Changes That Occur in the Supply of Money in the Iraqi Economy," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 7-10:4.
    69. Stephen Murchison & Andrew Rennison & Zhenhua Zhu, 2004. "A Structural Small Open-Economy Model for Canada," Staff Working Papers 04-4, Bank of Canada.
    70. Seidel, Gerald, 2005. "Endogenous Inflation - The Role of Expectations and Strategic Interaction," Sonderforschungsbereich 504 Publications 05-14, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
    71. Don Harding & Adrian Pagan, 1999. "Knowing the Cycle," Melbourne Institute Working Paper Series wp1999n12, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    72. Xu, Xin, 2013. "The business cycle and health behaviors," Social Science & Medicine, Elsevier, vol. 77(C), pages 126-136.
    73. Carlos Carvalho, 2005. "Heterogeneity in Price Setting and the Real Effects of Monetary Shocks," Macroeconomics 0509017, University Library of Munich, Germany, revised 10 Oct 2005.
    74. Richard Mash, 2003. "New Keynesian Microfoundations Revisited: A Calvo-Taylor-Rule-of-Thumb Model and Optimal Monetary Policy Delegation," Economics Series Working Papers 174, University of Oxford, Department of Economics.
    75. Yao, Fang, 2010. "Can the New Keynesian Phillips Curve explain inflation gap persistence?," SFB 649 Discussion Papers 2010-030, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.

  51. Michael T. Kiley, 1998. "Monetary policy under neoclassical and New-Keynesian Phillips Curves, with an application to price level and inflation targeting," Finance and Economics Discussion Series 1998-27, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Kaushik Mitra & James Bullard, "undated". "Learning About Monetary Policy Rules," Discussion Papers 00/41, Department of Economics, University of York.
    2. Jesús Antonio Bejarano Rojas, 2005. "Estimación estructural y análisis de la curva de Phillips neokeynesiana para Colombia," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 23(48), pages 64-117, Junio.
    3. Lars E.O. Svensson, 1999. "Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability," NBER Working Papers 7276, National Bureau of Economic Research, Inc.
    4. Batini, Nicoletta & Yates, Anthony, 2003. "Hybrid Inflation and Price-Level Targeting," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 35(3), pages 283-300, June.
    5. Nessen, Marianne & Vestin, David, 2005. "Average Inflation Targeting," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(5), pages 837-863, October.
    6. Nelson, Edward, 2001. "What Does the UK's Monetary Policy and Inflation Experience Tell Us About the Transmission Mechanism?," CEPR Discussion Papers 3047, C.E.P.R. Discussion Papers.
    7. Robert Dittmar & William T. Gavin & Finn E. Kydland, 1999. "Price-level uncertainty and inflation targeting," Review, Federal Reserve Bank of St. Louis, vol. 81(Jul), pages 23-34.
    8. Erceg, C.J. & Henderson, D.W. & Levin, A.T., 1998. "Tradeoffs Between Inflation and Output-Gap Variances in an Optimizing-Agent Model," Papers 650, Stockholm - International Economic Studies.
    9. Francesco Busato & Alessandro Girardi & Amedeo Argentiero, 2008. "Technology and non-technology shocks in a two-sector economy," ISAE Working Papers 96, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
    10. Minford, Patrick & Nowell, Eric & Webb, Bruce, 2005. "Would price-level targeting destabilise the economy?," Cardiff Economics Working Papers E2005/12, Cardiff University, Cardiff Business School, Economics Section.
    11. Woodford, Michael, 1999. "Optimal monetary policy inertia," CFS Working Paper Series 1999/09, Center for Financial Studies (CFS).
    12. Chan Guk Huh & Kevin J. Lansing, 1997. "Expectations, credibility, and disinflation in a small macroeconomic model," Working Papers (Old Series) 9713, Federal Reserve Bank of Cleveland.
    13. Smets, Frank, 2003. "Maintaining price stability: how long is the medium term?," Journal of Monetary Economics, Elsevier, vol. 50(6), pages 1293-1309, September.
    14. Andrew Levin & Christopher J. Erceg & Dale W. Henderson, 1999. "Optimal Monetary Policy with Staggered Wage and Price Contracts," Computing in Economics and Finance 1999 1151, Society for Computational Economics.
    15. Matthews, Kent & Meenagh, David & Minford, Patrick & Webb, Bruce, 2006. "Monetary regimes: is there a trade-off between consumption and employment variability?," Cardiff Economics Working Papers E2006/12, Cardiff University, Cardiff Business School, Economics Section.
    16. Jiri Bohm & Jan Filacek, 2012. "Price-Level Targeting–A Real Alternative to Inflation Targeting?," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 62(1), pages 2-26, February.
    17. Viñals, José, 2001. "Monetary Policy Issues in a Low Inflation Environment," CEPR Discussion Papers 2945, C.E.P.R. Discussion Papers.
    18. Robert Dittmar & William T. Gavin, 1999. "What do New-Keynesian Phillips Curves imply for price level targeting?," Working Papers 1999-021, Federal Reserve Bank of St. Louis.
    19. Haider Ali & Eatzaz Ahmad, 2014. "Choice of Monetary Policy Instrument under Targeting Regimes in a Simple Stochastic Macro Model," PIDE-Working Papers 2014:102, Pakistan Institute of Development Economics.
    20. Michael Woodford, 1999. "Commentary : how should monetary policy be conducted in an era of price stability?," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 277-316.
    21. Vestin, David, 2006. "Price-level versus inflation targeting," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1361-1376, October.
    22. Yuen Chi-Wa, 2002. "Openness And The Output-Inflation Tradeoff: Floating Vs. Fixed Exchange Rates," International Economic Journal, Taylor & Francis Journals, vol. 16(4), pages 1-26.
    23. Giannoni, Marc P., 2002. "Does Model Uncertainty Justify Caution? Robust Optimal Monetary Policy In A Forward-Looking Model," Macroeconomic Dynamics, Cambridge University Press, vol. 6(1), pages 111-144, February.
    24. Malik, Hamza, 2005. "Price Level vs. Nominal Income Targeting: Aggregate Demand Shocks and the Cost Channel of Monetary Policy Transmission," MPRA Paper 456, University Library of Munich, Germany, revised Aug 2006.
    25. Jan Zápal, 2005. "Evropská měnová unie z post-keynesovské perspektivy [European monetary union from post keynesian perspective]," Politická ekonomie, Prague University of Economics and Business, vol. 2005(5), pages 687-701.
    26. Junhan Kim, 2011. "Inflation Targeting as Constrained Discretion," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(7), pages 1505-1522, October.

  52. Michael T. Kiley, 1997. "Efficiency wages, nominal rigidities, and the cyclical behavior of real wages and marginal cost," Finance and Economics Discussion Series 1997-24, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Andrea Vaona, 2013. "The Most Beautiful Variations on Fair Wages and the Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(6), pages 1069-1084, September.
    2. George J. Bratsiotis & Christopher Martin, 2005. "Output Stabilization And Real Rigidity," Manchester School, University of Manchester, vol. 73(6), pages 728-736, December.
    3. Jean-Pierre DANTHINE & André KURMANN, 2002. "Fair Wages in a New Keynesian Model of the Business Cycle," Cahiers de Recherches Economiques du Département d'économie 02.10, Université de Lausanne, Faculté des HEC, Département d’économie.
    4. James Costain & Marcel Jansen, 2010. "Employment Fluctuations with Downward Wage Rigidity: The Role of Moral Hazard," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(4), pages 782-811, December.
    5. Wu Joseph S. K. & Ho Chi Pui, 2017. "The Shapiro-Stiglitz Model with Non-constant Marginal Utility," Open Economics, De Gruyter, vol. 1(1), pages 36-48, August.
    6. David de la Croix & Gregory de Walque & Rafael Wouters, 2006. "Dynamics and monetary policy in a fair wage model of the business cycle," Working Paper Research 98, National Bank of Belgium.
    7. George J. Bratsiotis & Christopher Martin, 2003. "Monetary Policy Rules, Real Rigidity and Endogenous Persistence," Economics and Finance Discussion Papers 02-31, Economics and Finance Section, School of Social Sciences, Brunel University.
    8. Yakita, Akira, 2014. "Involuntary unemployment and sustainability of bond-financed fiscal deficit," Journal of Macroeconomics, Elsevier, vol. 41(C), pages 79-93.
    9. Canegallo, Claudia, 1999. "Funzionamento del mercato del lavoro in presenza di informazione asimmetrica. Una rassegna della letteratura," POLIS Working Papers 8, Institute of Public Policy and Public Choice - POLIS.
    10. Vaona, Andrea, 2011. "Four variations on fair wages and the Phillips curve," Kiel Working Papers 1713, Kiel Institute for the World Economy (IfW Kiel).
    11. Ronny Mazzocchi, 2013. "Scope and Flaws of the New Neoclassical Synthesis," DEM Discussion Papers 2013/13, Department of Economics and Management.

  53. Michael T. Kiley, 1997. "Staggered price setting and real rigidities," Finance and Economics Discussion Series 1997-46, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Galí, Jordi & Gertler, Mark, 1999. "Inflation Dynamics: A Structural Economic Analysis," CEPR Discussion Papers 2246, C.E.P.R. Discussion Papers.
    2. Karanassou, Marika & Sala, Hector & Snower, Dennis J., 2002. "A Reappraisal of the Inflation-Unemployment Tradeoff," IZA Discussion Papers 636, Institute of Labor Economics (IZA).
    3. Huang, K.X. & Liu, Z., 1999. "Staggered Contracts and Business Cycle Persistence," Papers 305, Minnesota - Center for Economic Research.
    4. Jess Benhabib & Roger E.A. Farmer, 2000. "The Monetary Transmission Mechanism," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(3), pages 523-550, July.
    5. Snower, Dennis & Merkl, Christian, 2006. "Monetary Persistence, Imperfect Competition and Staggering Complementarities," CEPR Discussion Papers 5658, C.E.P.R. Discussion Papers.
    6. Gerke, Rafael & Rubart, Jens, 2005. "The Role of Money Demand in a Business Cycle Model with Staggered Wage Contracts," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 37210, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    7. Ali Dib, 2003. "An estimated Canadian DSGE model with nominal and real rigidities," Canadian Journal of Economics, Canadian Economics Association, vol. 36(4), pages 949-972, November.
    8. Huw Dixon, 1999. "New Keynesian economics, nominal rigidities and involuntary unemployment," Journal of Economic Methodology, Taylor & Francis Journals, vol. 6(2), pages 221-238.
    9. Smith, Peter N., 2000. "Output price determination and the business cycle," Economic Modelling, Elsevier, vol. 17(1), pages 49-69, January.
    10. Kirill Sosunov, 2001. "Monetary neutrality in one specific class of DGE model with staggered prices," Macroeconomics 0112003, University Library of Munich, Germany.
    11. Paul R. Bergin & Robert C. Feenstra, 1998. "Staggered Price Setting and Endogenous Persistence," NBER Working Papers 6492, National Bureau of Economic Research, Inc.
    12. Christopher J. Erceg, 1997. "Nominal wage rigidities and the propagation of monetary disturbances," International Finance Discussion Papers 590, Board of Governors of the Federal Reserve System (U.S.).
    13. Katharine S. Neiss & Evi Pappa, 2005. "Persistence without too much price stickiness: the role of variable factor utilization," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(1), pages 231-255, January.
    14. Wilson, Matthew S., 2020. "A real business cycle model with money as a sunspot variable," Journal of Economics and Business, Elsevier, vol. 109(C).
    15. Rochelle M. Edge, 2000. "The equivalence of wage and price staggering in monetary business cycle models," International Finance Discussion Papers 672, Board of Governors of the Federal Reserve System (U.S.).
    16. Jordi Gali, 2002. "New Perspectives on Monetary Policy, Inflation, and the Business Cycle," NBER Working Papers 8767, National Bureau of Economic Research, Inc.
    17. Farmer, R.E.A., 1999. "Two New Keynesian Theories of Sticky Prices," Economics Working Papers eco99/33, European University Institute.
    18. Taylor, John B., 2000. "Low inflation, pass-through, and the pricing power of firms," European Economic Review, Elsevier, vol. 44(7), pages 1389-1408, June.
    19. Marianna Riggi, 2010. "Nominal And Real Wage Rigidities In New Keynesian Models: A Critical Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 24(3), pages 539-572, July.
    20. Jordi Galí & Mark Gertler, 1998. "Inflation dynamics: A structural econometric analysis," Economics Working Papers 341, Department of Economics and Business, Universitat Pompeu Fabra.
    21. Jeanne, Olivier, 1998. "Generating real persistent effects of monetary shocks: How much nominal rigidity do we really need?," European Economic Review, Elsevier, vol. 42(6), pages 1009-1032, June.
    22. Bratsiotis, George J., 2007. "Monetary policy responses and strategic price setting," Economics Letters, Elsevier, vol. 95(3), pages 327-333, June.
    23. Huang, Kevin X. D. & Liu, Zheng, 2002. "Staggered price-setting, staggered wage-setting, and business cycle persistence," Journal of Monetary Economics, Elsevier, vol. 49(2), pages 405-433, March.
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    25. Bergin, Paul R. & Feenstra, Robert C., 2000. "Staggered price setting, translog preferences, and endogenous persistence," Journal of Monetary Economics, Elsevier, vol. 45(3), pages 657-680, June.
    26. Ali Dib & Louis Phaneuf, 2001. "An Econometric U.S. Business Cycle Model with Nominal and Real Rigidities," Cahiers de recherche CREFE / CREFE Working Papers 137, CREFE, Université du Québec à Montréal.
    27. Alvarez-Lois, Pedro P., 2006. "Endogenous capacity utilization and macroeconomic persistence," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 2213-2237, November.
    28. Sveen, Tommy & Weinke, Lutz, 2007. "Firm-specific capital, nominal rigidities, and the Taylor principle," Journal of Economic Theory, Elsevier, vol. 136(1), pages 729-737, September.
    29. Bakhshi, Hasan, 2002. "Inflation and relative price variability," Economics Letters, Elsevier, vol. 76(1), pages 27-33, June.
    30. Huang, Kevin X. D. & Liu, Zheng, 2001. "Production chains and general equilibrium aggregate dynamics," Journal of Monetary Economics, Elsevier, vol. 48(2), pages 437-462, October.
    31. Fabrice COLLARD & Guy ERTZ, 2000. "Stochastic Nominal Wage Contracts in a Cash-in-Advance model," Discussion Papers (REL - Recherches Economiques de Louvain) 2000032, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    32. Merkl, Christian & Snower, Dennis J., 2005. "Monetary persistence, imperfect competition, and staggering complementarities," Kiel Working Papers 1257, Kiel Institute for the World Economy (IfW Kiel).
    33. Gregory Erin Givens, 2007. "Unemployment, Imperfect Risk Sharing, and the Monetary Business Cycle," Working Papers 200710, Middle Tennessee State University, Department of Economics and Finance.
    34. Rochelle M. Edge, 2000. "The effect of monetary policy on residential and structures investment under differential project planning and completion times," International Finance Discussion Papers 671, Board of Governors of the Federal Reserve System (U.S.).
    35. Marianna Riggi, 2007. "New Keynesian models with labor market rigidities: a critical survey," Working Papers in Public Economics 102, Department of Economics and Law, Sapienza University of Roma.
    36. Marianna Riggi & Massimiliano Tancioni, 2008. "Nominal v. Real Wage Rigidities in New Keynesian Models with Hiring Costs," Working Papers in Public Economics 107, Department of Economics and Law, Sapienza University of Roma.

  54. Michael T. Kiley, 1997. "The supply of skilled labor and skill-based technological progress," Finance and Economics Discussion Series 1997-45, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Nahuis, Richard & Smulders, Sjak, 2002. "The Skill Premium, Technological Change and Appropriability," Journal of Economic Growth, Springer, vol. 7(2), pages 137-156, June.
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    5. Zsofia Barany, 2016. "The Minimum Wage and Inequality: The Effects of Education and Technology," SciencePo Working papers Main hal-03594158, HAL.
    6. Borghans, L. & ter Weel, B.J., 2016. "The diffusion of computers and the distribution of wages," Research Memorandum 029, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
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    8. M. Piva & E. Santarelli & M. Vivarelli, 2003. "The Skill Bias Effect of Technological and Organisational Change: Evidenceand Policy Implications," Working Papers 486, Dipartimento Scienze Economiche, Universita' di Bologna.
    9. Carlos Medina & Christian Manuel Posso Suárez, 2010. "Technical Change and Polarization of the Labor Market: Evidence for Brazil, Colombia and Mexico," Borradores de Economia 7269, Banco de la Republica.
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    13. Alexander M. Danzer & Carsten Feuerbaum & Fabian Gaessler, 2020. "Labor Supply and Automation Innovation," RF Berlin - CReAM Discussion Paper Series 2014, Rockwool Foundation Berlin (RF Berlin) - Centre for Research and Analysis of Migration (CReAM).
    14. Rossana Patron & Marcel Vaillant, 2012. "Can Education Policy Address The Wage Gap? A Note On Public Skill Formation In Developing Countries," Journal of International Development, John Wiley & Sons, Ltd., vol. 24(3), pages 369-378, April.
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    29. Timo Boppart & Franziska J. Weiss, 2012. "Structural Change, Market Size and Sector Specific Endogenous Growth," DEGIT Conference Papers c017_062, DEGIT, Dynamics, Economic Growth, and International Trade.
    30. Li, defu & Bental, Benjamin, 2023. "Why is technical change purely labor-augmenting and skill biased in the 20th century?," MPRA Paper 119047, University Library of Munich, Germany.
    31. Matthias Weiss, 2005. "On the Evolution of Wage Inequality in Acemoglu’s Model of Directed Technical Change," MEA discussion paper series 05099, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    32. Li, Shang-ao & Pan, Shan & Chi, Shawn, 2016. "North–South FDI and directed technical change," Economic Modelling, Elsevier, vol. 59(C), pages 425-435.
    33. Rahman, Ahmed S., 2013. "The Road Not Taken: What Is The “Appropriate” Path To Development When Growth Is Unbalanced?," Macroeconomic Dynamics, Cambridge University Press, vol. 17(4), pages 747-778, June.
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    37. Cozzi, Guido & Galli, Silvia, 2011. "Upstream innovation protection: common law evolution and the dynamics of wage inequality," MPRA Paper 31902, University Library of Munich, Germany.
    38. Danzer, Alexander M. & Feuerbaum, Carsten & Gaessler, Fabian, 2024. "Labor supply and automation innovation: Evidence from an allocation policy," Journal of Public Economics, Elsevier, vol. 235(C).
    39. Andreas Irmen, 2009. "Population Aging and the Direction of Technical Change," CESifo Working Paper Series 2888, CESifo.
    40. Funk, Peter & Vogel, Thorsten, 2004. "Endogenous skill bias," Journal of Economic Dynamics and Control, Elsevier, vol. 28(11), pages 2155-2193, October.
    41. Sandén, Klas, 2007. "Risk, Occupational Choice, and Inequality," Working Papers in Economics 263, University of Gothenburg, Department of Economics.
    42. Franziska Weiss & Timo Boppart, 2013. "Non-homothetic preferences and industry directed technical change," 2013 Meeting Papers 916, Society for Economic Dynamics.
    43. Mr. Alberto Behar, 2013. "The Endogenous Skill Bias of Technical Change and Inequality in Developing Countries," IMF Working Papers 2013/050, International Monetary Fund.
    44. Edgar J. Sanchez Carrera, 2019. "Evolutionary dynamics of poverty traps," Journal of Evolutionary Economics, Springer, vol. 29(2), pages 611-630, April.
    45. Gupta, Manash Ranjan & Dutta, Priya Brata, 2010. "Skilled-unskilled wage inequality, nontraded good and endogenous supply of skilled labour: A theoretical analysis," Economic Modelling, Elsevier, vol. 27(5), pages 923-934, September.
    46. Karsten Wasiluk, 2015. "Path dependence and induced innovation," Working Paper Series of the Department of Economics, University of Konstanz 2015-22, Department of Economics, University of Konstanz.
    47. Smulders, J.A. & de Nooij, M., 2003. "The impact of energy conservation on technology and economic growth," Other publications TiSEM c4db0986-2132-4216-aa53-0, Tilburg University, School of Economics and Management.
    48. Gupta, Manash Ranjan & Dutta, Priya Brata, 2011. "Skilled-unskilled wage inequality and unemployment: A general equilibrium analysis," Economic Modelling, Elsevier, vol. 28(4), pages 1977-1983, July.
    49. Priya Brata Dutta, 2014. "Skilled-unskilled wage inequality, product variety and unemployment: A static general equilibrium analysis," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 23(1), pages 31-55, February.
    50. Sahoo, Amarendra & ten Raa, Thijs, 2012. "Wage–productivity differentials and Indian economic efficiency," Economic Modelling, Elsevier, vol. 29(2), pages 341-348.
    51. Juergen Antony, 2007. "Depletion of Non-Renewable Resources and Endogenous Technical Change," Discussion Paper Series 291, Universitaet Augsburg, Institute for Economics.
    52. Meckl, Jürgen & Zink, Stefan, 2001. "Solow and heterogeneous labor: A neoclassical explanation of wage inequality," Discussion Papers, Series I 312, University of Konstanz, Department of Economics.
    53. Jorge Calero, 2003. "Exploring the Long Term Effects of Educational Policies on the Income Redistribution Processes," LIS Working papers 361, LIS Cross-National Data Center in Luxembourg.
    54. Gerard van der Meijden & Sjak Smulders, 2014. "Carbon Lock-In: The Role of Expectations," Tinbergen Institute Discussion Papers 14-100/VIII, Tinbergen Institute, revised 14 Jul 2016.
    55. Nicholas Lawson, 2014. "Liquidity Constraints, Fiscal Externalities and Optimal Tuition Subsidies Optimal College Tuition Subsidies," AMSE Working Papers 1404, Aix-Marseille School of Economics, France, revised 18 Mar 2014.
    56. Ronald Benabou, 2002. "Human capital, technical change and the welfare state," Temi di discussione (Economic working papers) 465, Bank of Italy, Economic Research and International Relations Area.
    57. Guido Cozzi & Silvia Galli, 2012. "Sequential R&D and Blocking Patents in the Dynamics of Growth," Department of Economics Working Papers 2012_02, Durham University, Department of Economics.
    58. Hornstein, Andreas & Krusell, Per & Violante, Giovanni L., 2005. "The Effects of Technical Change on Labor Market Inequalities," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 20, pages 1275-1370, Elsevier.
    59. Ujjaini Mukhopadhyay, 2021. "Differential Education Subsidy Policy and Wage Inequality Between Skilled, Semi-skilled and Unskilled Labour: A General Equilibrium Approach," Review of Development and Change, , vol. 26(1), pages 40-62, June.
    60. Daron Acemoglu, 2015. "Localised and Biased Technologies: Atkinson and Stiglitz's New View, Induced Innovations, and Directed Technological Change," Economic Journal, Royal Economic Society, vol. 0(583), pages 443-463, March.
    61. Loebbing, Jonas, 2020. "Redistributive Income Taxation with Directed Technical Change," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224606, Verein für Socialpolitik / German Economic Association.
    62. Gupta, Manash Ranjan & Dutta, Priya Brata, 2012. "Skilled–unskilled wage inequality, product variety, public input and increasing returns: A static general equilibrium analysis," Economic Modelling, Elsevier, vol. 29(2), pages 502-513.
    63. Lei JI, 2012. "Rethinking Directed Technical Change with Endogenous Market Structure," DEGIT Conference Papers c017_037, DEGIT, Dynamics, Economic Growth, and International Trade.
    64. Juergen Antony, 2003. "Directed Sector and Skill-Specific Technological Change: The Development of Wages for the High and Low Skilled," Discussion Paper Series 236, Universitaet Augsburg, Institute for Economics.
    65. Liu, Xiaohui & Hodgkinson, Ian R. & Chuang, Fu-Mei, 2014. "Foreign competition, domestic knowledge base and innovation activities: Evidence from Chinese high-tech industries," Research Policy, Elsevier, vol. 43(2), pages 414-422.
    66. Pengfei Zhang, 2018. "Endogenous sector-biased technical change and perpetual and transient structural change," Journal of Economics, Springer, vol. 123(3), pages 195-223, April.
    67. Leonardi, Marco, 2010. "The Effect of Product Demand on Inequality: Evidence from the US and the UK," IZA Discussion Papers 5011, Institute of Labor Economics (IZA).
    68. Duranton, Gilles, 2004. "The economics of production systems: Segmentation and skill-biased change," European Economic Review, Elsevier, vol. 48(2), pages 307-336, April.
    69. Sahoo, A., 2008. "Essays on the Indian economy : Competitive pressure, productivity and performance," Other publications TiSEM 374e9035-815c-43fe-a68e-e, Tilburg University, School of Economics and Management.
    70. Gupta, Manash Ranjan & Dutta, Priya Brata, 2010. "Skilled-unskilled wage inequality: A general equilibrium analysis," Research in Economics, Elsevier, vol. 64(4), pages 247-263, December.
    71. Zwick Thomas, 2001. "Supply of Human Capital in Times of Skill Biased Technological Change / Die Reaktion des Humankapitalangebots auf qualifikationsverzerrten technischen Fortschritt," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 221(3), pages 322-335, June.
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    74. Juergen Antony, 2005. "Weak Scale Effects in Growth Models," Discussion Paper Series 276, Universitaet Augsburg, Institute for Economics.
    75. Guido Cozzi & Giammario Impullitti, "undated". "Technology Policy and Wage Inequality," Working Papers 2008_23, Business School - Economics, University of Glasgow, revised Oct 2006.
    76. Lei Ji, 2013. "Rethinking directed technical change with endogenous market structure," Documents de Travail de l'OFCE 2013-18, Observatoire Francais des Conjonctures Economiques (OFCE).
    77. Christian Groth, 2004. "Innovation and growth: What have we learnt from the robustness debate?," Discussion Papers 04-29, University of Copenhagen. Department of Economics, revised Nov 2004.
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  55. Michael T. Kiley, "undated". "Endogenous Price Stickiness and Business Cycle Persistence," Finance and Economics Discussion Series 1996-23, Board of Governors of the Federal Reserve System (U.S.), revised 04 Dec 2019.

    Cited by:

    1. Michael T. Kiley, 1996. "The lead of output over inflation in sticky price models," Finance and Economics Discussion Series 96-33, Board of Governors of the Federal Reserve System (U.S.).
    2. Kevin X. D. Huang & Zheng Liu, 2004. "Multiple stages of processing and the quantity anomaly in international business cycle models," Research Working Paper RWP 04-05, Federal Reserve Bank of Kansas City.
    3. Konstantin Styrin & Oleg Zamulin, 2003. "Estimating Price Rigidities in the Russian Real Estate Markets," Working Papers w0026, Center for Economic and Financial Research (CEFIR).
    4. Levin, Andrew & Yun, Tack, 2007. "Reconsidering the natural rate hypothesis in a New Keynesian framework," Journal of Monetary Economics, Elsevier, vol. 54(5), pages 1344-1365, July.
    5. Ichiro Fukunaga, 2007. "Imperfect Common Knowledge, Staggered Price Setting, and the Effects of Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1711-1739, October.
    6. Tsutomu Watanabe & David Weinstein & Jessie Handbury, 2014. "How Much Do Official Price Indexes Tell Us About Inflation?," 2014 Meeting Papers 73, Society for Economic Dynamics.
    7. Latorre, Concepción & Gómez-Plana, Antonio G., 2010. "Multinationals in the Motor vehicles industry: A general equilibrium analysis for a Transition Economy," Conference papers 332025, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    8. Huang, Kevin X.D. & Liu, Zheng, 2007. "Business cycles with staggered prices and international trade in intermediate inputs," Journal of Monetary Economics, Elsevier, vol. 54(4), pages 1271-1289, May.
    9. Bruchez, Pierre-Alain, 2007. "A Hybrid Sticky-Price and Sticky-Information Model," MPRA Paper 3540, University Library of Munich, Germany.
    10. Belbute, José & Caleiro, António, 2009. "Measuring the Persistence on Consumption in Portugal," MPRA Paper 15116, University Library of Munich, Germany.
    11. Belbute, José & Caleiro, António, 2010. "Cross Country Evidence on Consumption Persistence," MPRA Paper 22008, University Library of Munich, Germany.
    12. Takushi Kurozumi & Willem Van Zandweghe, 2012. "Firm-specific labor, trend inflation, and equilibrium stability," Research Working Paper RWP 12-09, Federal Reserve Bank of Kansas City.
    13. W. Wascher & Palle S. Andersen, 1999. "Sacrifice ratios and the conduct of monetary policy in conditions of low inflation," BIS Working Papers 82, Bank for International Settlements.
    14. Imran H. Shah & Simón Sosvilla‐Rivero, 2021. "Incorporating asset price stability in the European Central Bank's inflation targeting framework," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 2022-2043, April.
    15. Carlos Santos & Maria Alberta Oliveira, 2007. "Assessing French Inflation Persistence with Impulse Saturation Break Tests and Automatic General-to-Specific Modelling," Working Papers de Economia (Economics Working Papers) 10, Católica Porto Business School, Universidade Católica Portuguesa.
    16. Ozge Senay & Alan Sutherland, 2014. "Endogenous price flexibility and optimal monetary policy," Oxford Economic Papers, Oxford University Press, vol. 66(4), pages 1121-1144.
    17. Takashi Senda & Julie K Smith, 2008. "Inflation History And The Sacrifice Ratio: Episode‐Specific Evidence," Contemporary Economic Policy, Western Economic Association International, vol. 26(3), pages 409-419, July.
    18. John C. Driscoll & Ruth A. Judson, 2013. "Sticky deposit rates," Finance and Economics Discussion Series 2013-80, Board of Governors of the Federal Reserve System (U.S.).
    19. Emi Nakamura & Jón Steinsson, 2013. "Price Rigidity: Microeconomic Evidence and Macroeconomic Implications," NBER Working Papers 18705, National Bureau of Economic Research, Inc.
    20. Takushi Kurozumi, 2016. "Endogenous Price Stickiness, Trend Inflation, and Macroeconomic Stability," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(6), pages 1267-1291, September.
    21. Ahrens, Steffen & Snower, Dennis J., 2014. "Envy, guilt, and the Phillips curve," Journal of Economic Behavior & Organization, Elsevier, vol. 99(C), pages 69-84.
    22. Kevin X. D. Huang & Zheng Liu & Louis Phaneuf, 2000. "On the Transmission of Monetary Policy Shocks," Cahiers de recherche CREFE / CREFE Working Papers 112, CREFE, Université du Québec à Montréal, revised Sep 2001.
    23. Imran Hussain Shaha & Simón Sosvilla-Rivero, 2017. "Seeking price and macroeconomic stabilisation in the euro area: The role of house prices and stock prices," Working Papers del Instituto Complutense de Estudios Internacionales 1707, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.
    24. Chi‐Young Choi, 2010. "Reconsidering the Relationship between Inflation and Relative Price Variability," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(5), pages 769-798, August.
    25. Greg Tkacz, 2000. "Fractional Cointegration and the Demand for M1," Staff Working Papers 00-12, Bank of Canada.
    26. Rachel Male, 2010. "Business Cycle Persistence in Developing Countries: How Successful is a DSGE Model with a Vertical Production Chain and Sticky Prices?," Working Papers 672, Queen Mary University of London, School of Economics and Finance.
    27. Hajime Tomura, 2016. "Investment Horizon and Repo in the Over‐the‐Counter Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(1), pages 145-164, February.
    28. Emmanuel De Veirman, 2009. "What Makes the Output–Inflation Trade‐Off Change? The Absence of Accelerating Deflation in Japan," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(6), pages 1117-1140, September.
    29. Carrera, César & Ramírez-Rondán, N.R., 2019. "Inflation, Information Rigidity, And The Sticky Information Phillips Curve," Macroeconomic Dynamics, Cambridge University Press, vol. 23(7), pages 2597-2615, October.
    30. Caleiro, António, 2008. "How Can Voters Classify an Incumbent under Output Persistence," Economics Discussion Papers 2008-16, Kiel Institute for the World Economy (IfW Kiel).
    31. George J. Bratsiotis & Christopher Martin, 2003. "Monetary Policy Rules, Real Rigidity and Endogenous Persistence," Economics and Finance Discussion Papers 02-31, Economics and Finance Section, School of Social Sciences, Brunel University.
    32. Emmanuel De Veirman, 2007. "Which Nonlinearity in the Phillips Curve? The Absence of Accelerating Deflation in Japan," Economics Working Paper Archive 536, The Johns Hopkins University,Department of Economics.
    33. Kurozumi, Takushi, 2014. "Trend inflation, sticky prices, and expectational stability," Journal of Economic Dynamics and Control, Elsevier, vol. 42(C), pages 175-187.
    34. Hasan Bakhshi & Pablo Burriel-Llombart & Hashmat Khan & Barbara Rudolf, 2003. "Endogenous price stickiness, trend inflation, and the New Keynesian Phillips curve," Bank of England working papers 191, Bank of England.
    35. Anna Watson, 2010. "The Impact of Trade Integration and Competition on Real and Nominal Price Rigidities: Insights from a New-Keynesian DSGE Model," DEGIT Conference Papers c015_061, DEGIT, Dynamics, Economic Growth, and International Trade.
    36. Hashmat Khan, 2004. "Price stickiness, trend inflation, and output dynamics: a cross-country analysis," Canadian Journal of Economics, Canadian Economics Association, vol. 37(4), pages 999-1020, November.
    37. Giovanni Lombardo, "undated". "Sticky Prices, Markup and the Business Cycle: Some Evidence," Discussion Papers 01/06, Department of Economics, University of York.
    38. Takushi Kurozumi & Willem Van Zandweghe, 2016. "Kinked Demand Curves, the Natural Rate Hypothesis, and Macroeconomic Stability," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 240-257, April.
    39. Choi, Chi-Young & O'Sullivan, Róisín, 2013. "Heterogeneous response of disaggregate inflation to monetary policy regime change: The role of price stickiness," Journal of Economic Dynamics and Control, Elsevier, vol. 37(9), pages 1814-1832.
    40. Bonomo, Marco Antônio Cesar & Carvalho, Carlos Viana de, 2003. "Endogenous time-dependent rules and the costs of disinflation with imperfect credibility," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 505, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    41. Michael T. Kiley, 2022. "Anchored or Not: How Much Information Does 21st Century Data Contain on Inflation Dynamics?," Finance and Economics Discussion Series 2022-016, Board of Governors of the Federal Reserve System (U.S.).
    42. Luo, Yulei & Nie, Jun & Young, Eric, 2014. "Slow Information Diffusion and the Inertial Behavior of Durable Consumption," MPRA Paper 54089, University Library of Munich, Germany.
    43. Tambakis, D.N., 2008. "Optimal Monetary Policy with a Convex Phillips Curve," Cambridge Working Papers in Economics 0859, Faculty of Economics, University of Cambridge.
    44. Chris Tsoukis & George Kapetanios & Joseph Pearlman, 2007. "The Elusive Persistence: Wage and Price Rigidities, the Phillips Curve, and Inflation Dynamics," Working Papers 619, Queen Mary University of London, School of Economics and Finance.
    45. Martin Boileau & Marc-André Letendre, 2004. "Inventories, Sticky Prices and the Propogation of Nominal Shocks," Department of Economics Working Papers 2004-03, McMaster University.
    46. Michael T. Kiley, 2003. "Why Is Inflation Low When Productivity Growth Is High?," Economic Inquiry, Western Economic Association International, vol. 41(3), pages 392-406, July.
    47. McAdam, Peter & Willman, Alpo, 2007. "State-dependency and firm-level optimization: a contribution to Calvo price staggering," Working Paper Series 806, European Central Bank.
    48. Sen Tinni & Conlon John R, 2010. "Price Dynamics and Asymmetric Business Cycles under Mixed State and Time Dependent Pricing Rules," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-28, April.
    49. Yuriy Gorodnichenko, 2008. "Endogenous information, menu costs and inflation persistence," NBER Working Papers 14184, National Bureau of Economic Research, Inc.
    50. Takeshi Kimura & Takushi Kurozumi & Naoko Hara, 2008. "Endogenous Nominal Rigidities and Monetary Policy," Bank of Japan Working Paper Series 08-E-4, Bank of Japan.
    51. Kevin X. D. Huang & Zheng Liu, 2001. "Input-Output Structure and Nominal Staggering: The Persistence Problem Revisited," Cahiers de recherche CREFE / CREFE Working Papers 145, CREFE, Université du Québec à Montréal.
    52. Burstein, Ariel T., 2006. "Inflation and output dynamics with state-dependent pricing decisions," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1235-1257, October.
    53. Peter Mcadam & Alpo Willman, 2010. "Arrow–Calvo Price Staggering," Manchester School, University of Manchester, vol. 78(6), pages 556-581, December.
    54. Ahrens, Steffen & Hartmann, Matthias, 2014. "State-dependence vs. timedependence: An empirical multi-country investigation of price sluggishness," Kiel Working Papers 1907, Kiel Institute for the World Economy (IfW Kiel).
    55. Caleiro, António, 2009. "How upside down are political business cycles when there is output persistence," Research in Economics, Elsevier, vol. 63(1), pages 22-26, March.
    56. Sohei Kaihatsu & Mitsuru Katagiri & Noriyuki Shiraki, 2017. "Phillips Curve and Price-Change Distribution under Declining Trend Inflation," Bank of Japan Working Paper Series 17-E-5, Bank of Japan.
    57. Edward S. Knotek Ii, 2010. "A Tale of Two Rigidities: Sticky Prices in a Sticky-Information Environment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(8), pages 1543-1564, December.
    58. Alvarez-Lois, Pedro P., 2006. "Endogenous capacity utilization and macroeconomic persistence," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 2213-2237, November.
    59. Susanto Basu & Alan M. Taylor, 1999. "Business Cycles in International Historical Perspective," NBER Working Papers 7090, National Bureau of Economic Research, Inc.
    60. Fernandez-Corugedo Emilio, 2007. "The Impact of Trend Inflation in an Open Economy Model," Working Papers 2007-15, Banco de México.
    61. Martin Boileau & Marc-Andre Letendre, 2011. "Inventories, sticky prices, and the persistence of output and inflation," Applied Economics, Taylor & Francis Journals, vol. 43(10), pages 1161-1174.
    62. Watson, Anna, 2016. "Trade openness and inflation: The role of real and nominal price rigidities," Journal of International Money and Finance, Elsevier, vol. 64(C), pages 137-169.
    63. Christopher Tsoukis & George Kapetanios & Joseph Pearlman, 2011. "Elusive Persistence: Wage And Price Rigidities, The New Keynesian Phillips Curve And Inflation Dynamics," Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 737-768, September.
    64. Bakhshi, Hasan & Khan, Hashmat & Burriel-Llombart, Pablo & Rudolf, Barbara, 2007. "The New Keynesian Phillips curve under trend inflation and strategic complementarity," Journal of Macroeconomics, Elsevier, vol. 29(1), pages 37-59, March.
    65. Hutchison, M M & Walsh, C E, 1998. "The Output-Inflation Tradeoff and Central Bank Reform: Evidence from New Zealand," Economic Journal, Royal Economic Society, vol. 108(448), pages 703-725, May.
    66. Chi-Young Choi & Young Se Kim & Róisín O'Sullivan, 2011. "Inflation Targeting and Relative Price Variability: What Difference Does Inflation Targeting Make?," Southern Economic Journal, John Wiley & Sons, vol. 77(4), pages 934-957, April.
    67. Becker, Sascha, 2011. "What drives the relationship between inflation and price dispersion? Market power vs. price rigidity," SFB 649 Discussion Papers 2011-019, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    68. Devereux, Michael B. & Yetman, James, 2002. "Menu costs and the long-run output-inflation trade-off," Economics Letters, Elsevier, vol. 76(1), pages 95-100, June.
    69. Timo Henckel & Gordon D. Menzies & Daniel J. Zizzo, 2010. "Threshold Pricing in a Noisy World," CAMA Working Papers 2010-01, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    70. Kosuke Aoki & Gianluca Benigno & Nobuhiro Kiyotaki, 2016. "Monetary and Financial Policies in Emerging Markets," Working Papers 2016-4, Princeton University. Economics Department..

  56. Michael T. Kiley, "undated". "The Lead of Output over Inflation in Sticky Price Models," Finance and Economics Discussion Series 1996-33, Board of Governors of the Federal Reserve System (U.S.), revised 10 Dec 2019.

    Cited by:

    1. Safouane Ben Aïssa & Olivier Musy, 2009. "The Dynamic Properties of Alternative Assumptions on Price Adjustment in New Keynesian Models," Working Papers hal-04140852, HAL.
    2. Nelson, E., 1998. "Sluggish inflation and optimizing models of the business cycle," Journal of Monetary Economics, Elsevier, vol. 42(2), pages 303-322, July.
    3. Cover James Peery & Pecorino Paul, 2003. "Optimal Monetary Policy and the Correlation between Prices and Output," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-21, February.
    4. Lars E. O. Svensson, 2000. "Open-Economy Inflation Targeting," NBER Working Papers 6545, National Bureau of Economic Research, Inc.
    5. Kiley, Michael T., 1997. "Efficiency wages, nominal rigidities and the cyclical behavior of real wages and marginal cost," Economics Letters, Elsevier, vol. 56(2), pages 215-221, October.

Articles

  1. Michael T. Kiley, 2024. "Growth at risk from climate change," Economic Inquiry, Western Economic Association International, vol. 62(3), pages 1134-1151, July.
    See citations under working paper version above.
  2. Michael T. Kiley, 2022. "Unemployment Risk," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(5), pages 1407-1424, August.
    See citations under working paper version above.
  3. Kiley, Michael T., 2021. "What macroeconomic conditions lead financial crises?," Journal of International Money and Finance, Elsevier, vol. 111(C).
    See citations under working paper version above.
  4. Michael T. Kiley, 2020. "The Global Equilibrium Real Interest Rate: Concepts, Estimates, and Challenges," Annual Review of Financial Economics, Annual Reviews, vol. 12(1), pages 305-326, December.
    See citations under working paper version above.
  5. Michael T. Kiley, 2020. "What Can the Data Tell Us about the Equilibrium Real Interest Rate?," International Journal of Central Banking, International Journal of Central Banking, vol. 16(3), pages 181-209, June.
    See citations under working paper version above.
  6. Ben S. Bernanke & Michael T. Kiley & John M. Roberts, 2019. "Monetary Policy Strategies for a Low-Rate Environment," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 421-426, May.
    See citations under working paper version above.
  7. Luca Guerrieri & Matteo Iacoviello & Francisco Covas & John C. Driscoll & Mohammad Jahan-Parvar & Michael Kiley & Albert Queralto & Jae Sim, 2019. "Macroeconomic Effects of Banking-Sector Losses across Structural Models," International Journal of Central Banking, International Journal of Central Banking, vol. 15(3), pages 137-204, September.
    See citations under working paper version above.
  8. Michael T. Kiley, 2018. "Quantitative Easing and the ‘New Normal’ in Monetary Policy," Manchester School, University of Manchester, vol. 86(S1), pages 21-49, September.
    See citations under working paper version above.
  9. Aikman, David & Kiley, Michael & Lee, Seung Jung & Palumbo, Michael G. & Warusawitharana, Missaka, 2017. "Mapping heat in the U.S. financial system," Journal of Banking & Finance, Elsevier, vol. 81(C), pages 36-64.
    See citations under working paper version above.
  10. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 317-396.
    See citations under working paper version above.
  11. Kiley, Michael T. & Sim, Jae, 2017. "Optimal monetary and macroprudential policies: Gains and pitfalls in a model of financial intermediation," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 232-259.
    See citations under working paper version above.
  12. Michael Kiley, 2016. "Policy Paradoxes in the New-Keynesian Model," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 1-15, July.
    See citations under working paper version above.
  13. Kiley, Michael T., 2016. "Monetary policy statements, treasury yields, and private yields: Before and after the zero lower bound," Finance Research Letters, Elsevier, vol. 18(C), pages 285-290.
    See citations under working paper version above.
  14. Kiley, Michael T., 2015. "An evaluation of the inflationary pressure associated with short- and long-term unemployment," Economics Letters, Elsevier, vol. 137(C), pages 5-9.
    See citations under working paper version above.
  15. Hess Chung & Edward Herbst & Michael T. Kiley, 2015. "Effective Monetary Policy Strategies in New Keynesian Models: A Reexamination," NBER Macroeconomics Annual, University of Chicago Press, vol. 29(1), pages 289-344.
    See citations under working paper version above.
  16. Michael T. Kiley, 2014. "The Aggregate Demand Effects of Short- and Long-Term Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 10(4), pages 69-104, December.
    See citations under working paper version above.
  17. Kiley, Michael T. & Sim, Jae W., 2014. "Bank capital and the macroeconomy: Policy considerations," Journal of Economic Dynamics and Control, Elsevier, vol. 43(C), pages 175-198.

    Cited by:

    1. Dürmeier, Stefan, 2022. "A model of quantitative easing at the zero lower bound," BERG Working Paper Series 183, Bamberg University, Bamberg Economic Research Group.
    2. Simon Gilchrist & Raphael Schoenle & Jae W. Sim & Egon Zakrajšek, 2015. "Inflation Dynamics During the Financial Crisis," Finance and Economics Discussion Series 2015-12, Board of Governors of the Federal Reserve System (U.S.).
    3. Giovanni Melina & Stefania Villa, 2023. "Drivers of Large Recessions and Monetary Policy Responses," CESifo Working Paper Series 10590, CESifo.
    4. Beck, Thorsten & Colciago, Andrea & Pfajfar, Damjan, 2014. "The role of financial intermediaries in monetary policy transmission," Journal of Economic Dynamics and Control, Elsevier, vol. 43(C), pages 1-11.
    5. Darracq Pariès, Matthieu & Jacquinot, Pascal & Papadopoulou, Niki, 2016. "Parsing financial fragmentation in the euro area: a multi-country DSGE perspective," Working Paper Series 1891, European Central Bank.
    6. Kiley, Michael T. & Sim, Jae, 2017. "Optimal monetary and macroprudential policies: Gains and pitfalls in a model of financial intermediation," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 232-259.
    7. Brianti, Marco, 2021. "Financial Shocks, Uncertainty Shocks, and Monetary Policy Trade-Offs," Working Papers 2021-5, University of Alberta, Department of Economics.
    8. Holden, Tom D. & Levine, Paul & Swarbrick, Jonathan M., 2018. "Credit crunches from occasionally binding bank borrowing constraints," Discussion Papers 57/2018, Deutsche Bundesbank.
    9. Dia, Enzo & VanHoose, David, 2017. "Banking in macroeconomic theory and policy," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 149-160.
    10. Matthieu Darracq Paries, 2018. "Financial frictions and monetary policy conduct," Erudite Ph.D Dissertations, Erudite, number ph18-01 edited by Ferhat Mihoubi.
    11. Güntner, Jochen H.F., 2015. "The federal funds market, excess reserves, and unconventional monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 53(C), pages 225-250.
    12. Rachita Gulati & Nirmal Singh, 2019. "Analysing bank stability in India: Evidence from 2007/08-2016/17," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 9(6), pages 1-7.
    13. Kilponen, Juha & Orjasniemi, Seppo & Ripatti, Antti & Verona, Fabio, 2016. "The Aino 2.0 model," Bank of Finland Research Discussion Papers 16/2016, Bank of Finland.
    14. Yang, Ming-Yuan & Li, Sai-Ping & Wu, Yue & Tang, Jingtai & Ren, Fei, 2019. "Do government rescue policies reduce the market volatility after crash? Evidence from the Shanghai stock market," Finance Research Letters, Elsevier, vol. 29(C), pages 117-124.
    15. Matthieu Darracq Paries & Pascal Jacquinot & Niki Papadopoulou, 2016. "Parsing Financial Frictions Underlying Bank Lending Fragmentation during the Euro Area Crisis," Working Papers 2016-7, Central Bank of Cyprus.
    16. Yoo, Jinhyuk, 2017. "Capital injection to banks versus debt relief to households," IMFS Working Paper Series 111, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).

  18. Michael T. Kiley, 2014. "The Response of Equity Prices to Movements in Long‐Term Interest Rates Associated with Monetary Policy Statements: Before and After the Zero Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(5), pages 1057-1071, August.
    See citations under working paper version above.
  19. Kiley, Michael T., 2013. "Output gaps," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 1-18.
    See citations under working paper version above.
  20. Jane Dokko & Brian M. Doyle & Michael T. Kiley & Jinill Kim & Shane Sherlund & Jae Sim & Skander Van Den Heuvel, 2011. "Monetary policy and the global housing bubble [Assessing dynamic efficiency: theory and evidence]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 26(66), pages 237-287.

    Cited by:

    1. Fabian Lindner, 2014. "The Interaction of Mortgage Credit and Housing Prices in the US," IMK Working Paper 133-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    2. Matteo Luciani, 2013. "Monetary Policy, and the Housing Market: A Structural Factor Analysis," ULB Institutional Repository 2013/153324, ULB -- Universite Libre de Bruxelles.
    3. Graeme O'Meara, 2015. "Housing Bubbles and Monetary Policy: A Reassessment," The Economic and Social Review, Economic and Social Studies, vol. 46(4), pages 521-565.
    4. Wolski Rafał & Załęczna Magdalena, 2017. "Changing activity in the construction sector in selected states 2003-2012," Financial Internet Quarterly (formerly e-Finanse), Sciendo, vol. 13(4), pages 14-26, December.
    5. Neil Bhutta & Daniel R. Ringo, 2017. "The Effect of Interest Rates on Home Buying : Evidence from a Discontinuity in Mortgage Insurance Premiums," Finance and Economics Discussion Series 2017-086, Board of Governors of the Federal Reserve System (U.S.).
    6. Hulya Dagdeviren & Jiayi Balasuriya & Christopher Nicholas, 2022. "Spatial dynamics of post-crisis deleveraging [Financial geography II: financial geographies of housing and real estate]," Journal of Economic Geography, Oxford University Press, vol. 22(6), pages 1225-1246.
    7. Hull, Isaiah, 2015. "What Broke First? Characterizing Sources of Structural Change Prior to the Great Recession," Working Paper Series 301, Sveriges Riksbank (Central Bank of Sweden).
    8. Itzhak Ben-David & Pascal Towbin & Sebastian Weber, 2019. "Inferring Expectations from Observables: Evidence from the Housing Market," NBER Working Papers 25702, National Bureau of Economic Research, Inc.
    9. Emanuel Kohlscheen & Aaron Mehrotra & Dubravko Mihaljek, 2020. "Residential Investment and Economic Activity: Evidence from the Past Five Decades," International Journal of Central Banking, International Journal of Central Banking, vol. 16(6), pages 287-329, December.
    10. Heike Joebges & Sebastian Dullien & Alejandro Márquez-Velázquez, 2015. "What causes housing bubbles?," IMK Studies 43-2015, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    11. Edward Nelson, 2011. "Friedman's monetary economics in practice," Finance and Economics Discussion Series 2011-26, Board of Governors of the Federal Reserve System (U.S.).
    12. Orhan SANLI & Osman PEKER, 2023. "Effect of Inflation, Exchange Rate, Interest Rates and Income on House Sales: a Case of Turkiye," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 10(1), pages 37-60, January.
    13. Kiley, Michael T., 2021. "What macroeconomic conditions lead financial crises?," Journal of International Money and Finance, Elsevier, vol. 111(C).
    14. Lars E. O. Svensson, 2018. "Monetary policy and macroprudential policy: Different and separate?," Canadian Journal of Economics, Canadian Economics Association, vol. 51(3), pages 802-827, August.
    15. Rosen Azad Chowdhury & Dilshad Jahan & Tapas Mishra & Mamata Parhi, 2024. "Monetary policy shock and impact asymmetry in bank lending channel: Evidence from the UK housing sector," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 511-530, January.
    16. Paolo Gelain & Kevin J. Lansing & Gisle J. Natvik, 2018. "Explaining the Boom–Bust Cycle in the U.S. Housing Market: A Reverse‐Engineering Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(8), pages 1751-1783, December.
    17. Passmore, Stuart Wayne & von Hafften, Alexander H., 2020. "Financing affordable and sustainable homeownership with Fixed-COFI mortgages," Regional Science and Urban Economics, Elsevier, vol. 80(C).
    18. Heike Joebges & Sebastian Dullien & Alejandro Márquez-Velázquez, 2015. "What causes housing bubbles? A theoretical and empirical inquiry," Competence Centre on Money, Trade, Finance and Development 1501, Hochschule fuer Technik und Wirtschaft, Berlin.
    19. Rybacki, Jakub, 2019. "ECB policy consistency – loss of independence and the real estate bubble?," MPRA Paper 95906, University Library of Munich, Germany.
    20. Jonathan Goldberg & Elizabeth C. Klee & Edward Simpson Prescott & Paul R. Wood, 2020. "Monetary Policy Strategies and Tools: Financial Stability Considerations," Finance and Economics Discussion Series 2020-074, Board of Governors of the Federal Reserve System (U.S.).
    21. Shi, Song & Jou, Jyh-Bang & Tripe, David, 2014. "Can interest rates really control house prices? Effectiveness and implications for macroprudential policy," Journal of Banking & Finance, Elsevier, vol. 47(C), pages 15-28.
    22. Christophe Blot & Paul Hubert & Fabien Labondance, 2018. "Monetray policy and asset price bubbles," SciencePo Working papers Main hal-03471562, HAL.
    23. Hao Meng & Hai-Chuan Xu & Wei-Xing Zhou & Didier Sornette, 2017. "Symmetric thermal optimal path and time-dependent lead-lag relationship: novel statistical tests and application to UK and US real-estate and monetary policies," Quantitative Finance, Taylor & Francis Journals, vol. 17(6), pages 959-977, June.
    24. Wayne Passmore & Alexander H. von Hafften, 2018. "Financing Affordable and Sustainable Homeownership with Fixed-COFI Mortgages," Finance and Economics Discussion Series 2018-009, Board of Governors of the Federal Reserve System (U.S.).
    25. Howard, Greg & Liebersohn, Jack, 2020. "Regional Divergence and House Prices," Working Paper Series 2020-04, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    26. Boysen-Hogrefe, Jens & Gern, Klaus-Jürgen & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Plödt, Martin & Schwarzmüller, Tim & van Roye, Björn & Scheide, Joachim, 2014. "Finanz- und Wirtschaftspolitik bei einer anhaltenden monetären Expansion," Kieler Beiträge zur Wirtschaftspolitik 5, Kiel Institute for the World Economy (IfW Kiel).
    27. Pascal Towbin & Mr. Sebastian Weber, 2015. "Price Expectations and the U.S. Housing Boom," IMF Working Papers 2015/182, International Monetary Fund.
    28. Jean-Charles BRICONGNE & Alessandro TURRINI & Peter PONTUCH, 2019. "Assessing House Prices: Insights from HouseLev, a Dataset of Price Level Estimates," LEO Working Papers / DR LEO 2675, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    29. Christophe Blot & Paul Hubert & Fabien Labondance, 2020. "The asymmetric effects of monetary policy on stock price bubbles," Documents de Travail de l'OFCE 2020-12, Observatoire Francais des Conjonctures Economiques (OFCE).
    30. Roy, Saktinil & Kemme, David M., 2020. "The run-up to the global financial crisis: A longer historical view of financial liberalization, capital inflows, and asset bubbles," International Review of Financial Analysis, Elsevier, vol. 69(C).
    31. Zhu, Bing & Betzinger, Michael & Sebastian, Steffen, 2017. "Housing market stability, mortgage market structure, and monetary policy: Evidence from the euro area," Journal of Housing Economics, Elsevier, vol. 37(C), pages 1-21.
    32. Marie-Louise Djigbenou, 2014. "Determinants of Global Liquidity Dynamics:a FAVAR approach," Working Papers hal-00956314, HAL.
    33. Andreas Fuster & Basit Zafar, 2021. "The Sensitivity of Housing Demand to Financing Conditions: Evidence from a Survey," American Economic Journal: Economic Policy, American Economic Association, vol. 13(1), pages 231-265, February.
    34. Janet L. Yellen, 2016. "Macroeconomic Research After the Crisis : a speech at \"The Elusive 'Great' Recovery: Causes and Implications for Future Business Cycle Dynamics\" 60th annual economic conference sponsored b," Speech 915, Board of Governors of the Federal Reserve System (U.S.).
    35. Michael T. Kiley & Frederic S. Mishkin, 2024. "Central Banking Post Crises," Finance and Economics Discussion Series 2024-035, Board of Governors of the Federal Reserve System (U.S.).
    36. Alter, Adrian & Mahoney, Elizabeth M., 2021. "Local house-price vulnerability: Evidence from the U.S. and Canada," Journal of Housing Economics, Elsevier, vol. 54(C).
    37. He Gao & Walter Timo de Vries & Minrui Zheng & Jianping Ye, 2023. "State Capacity to Influence Actor Relations within the Chinese Real Estate Market: An Analytical Framework," Land, MDPI, vol. 12(8), pages 1-18, August.
    38. Stefan Eichler & Tom Lähner, 2014. "Regional House Price Dynamics And Voting Behavior In The Fomc," Economic Inquiry, Western Economic Association International, vol. 52(2), pages 625-645, April.
    39. Bäckman, Claes & Lutz, Chandler, 2020. "The impact of interest-only loans on affordability," Regional Science and Urban Economics, Elsevier, vol. 80(C).
    40. McCarthy, Yvonne & McQuinn, Kieran, 2017. "Credit conditions in a boom and bust property market: Insights for macro-prudential policy," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 171-182.
    41. David L. Reifschneider, 2016. "Gauging the Ability of the FOMC to Respond to Future Recessions," Finance and Economics Discussion Series 2016-068, Board of Governors of the Federal Reserve System (U.S.).
    42. Thomas Goda & Chris Stewart & Alejandro Torres García, 2016. "Absolute Income Inequality and Rising House Prices," Documentos de Trabajo de Valor Público 15247, Universidad EAFIT.
    43. Jerome H. Powell, 2019. "Business Debt and Our Dynamic Financial System : a speech At \"Mapping the Financial Frontier: What Does the Next Decade Hold?” 24th Annual Financial Markets Conference, sponsored by the Federal ," Speech 1066, Board of Governors of the Federal Reserve System (U.S.).
    44. Chang, Yuk Ying & Anderson, Hamish & Shi, Song, 2018. "China and international housing price growth," China Economic Review, Elsevier, vol. 50(C), pages 294-312.
    45. Phurichai Rungcharoenkitkul, 2015. "Bank competition and credit booms," BIS Working Papers 488, Bank for International Settlements.
    46. Scott, C. Patrick, 2016. "Asymmetric preferences and monetary policy deviations," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 325-334.
    47. Chung Yim Yiu, 2023. "A Natural Quasi-Experiment of the Monetary Policy Shocks on the Housing Markets of New Zealand during COVID-19," JRFM, MDPI, vol. 16(2), pages 1-16, January.
    48. Mahua Barari & Srikanta Kundu, 2019. "The Role of the Federal Reserve in the U.S. Housing Crisis: A VAR Analysis with Endogenous Structural Breaks," JRFM, MDPI, vol. 12(3), pages 1-20, July.
    49. Dominika Ehrenbergerova & Josef Bajzik, 2020. "The Effect of Monetary Policy on House Prices - How Strong is the Transmission?," Working Papers 2020/14, Czech National Bank.

  21. Jane Dokko & Brian M. Doyle & Michael T. Kiley & Jinill Kim & Shane Sherlund & Jae Sim & Skander Van Den Heuvel, 2011. "Monetary policy and the global housing bubble [Assessing dynamic efficiency: theory and evidence]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 26(66), pages 237-287.

    Cited by:

    1. Fabian Lindner, 2014. "The Interaction of Mortgage Credit and Housing Prices in the US," IMK Working Paper 133-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    2. Matteo Luciani, 2013. "Monetary Policy, and the Housing Market: A Structural Factor Analysis," ULB Institutional Repository 2013/153324, ULB -- Universite Libre de Bruxelles.
    3. Graeme O'Meara, 2015. "Housing Bubbles and Monetary Policy: A Reassessment," The Economic and Social Review, Economic and Social Studies, vol. 46(4), pages 521-565.
    4. Wolski Rafał & Załęczna Magdalena, 2017. "Changing activity in the construction sector in selected states 2003-2012," Financial Internet Quarterly (formerly e-Finanse), Sciendo, vol. 13(4), pages 14-26, December.
    5. Neil Bhutta & Daniel R. Ringo, 2017. "The Effect of Interest Rates on Home Buying : Evidence from a Discontinuity in Mortgage Insurance Premiums," Finance and Economics Discussion Series 2017-086, Board of Governors of the Federal Reserve System (U.S.).
    6. Hulya Dagdeviren & Jiayi Balasuriya & Christopher Nicholas, 2022. "Spatial dynamics of post-crisis deleveraging [Financial geography II: financial geographies of housing and real estate]," Journal of Economic Geography, Oxford University Press, vol. 22(6), pages 1225-1246.
    7. Hull, Isaiah, 2015. "What Broke First? Characterizing Sources of Structural Change Prior to the Great Recession," Working Paper Series 301, Sveriges Riksbank (Central Bank of Sweden).
    8. Itzhak Ben-David & Pascal Towbin & Sebastian Weber, 2019. "Inferring Expectations from Observables: Evidence from the Housing Market," NBER Working Papers 25702, National Bureau of Economic Research, Inc.
    9. Emanuel Kohlscheen & Aaron Mehrotra & Dubravko Mihaljek, 2020. "Residential Investment and Economic Activity: Evidence from the Past Five Decades," International Journal of Central Banking, International Journal of Central Banking, vol. 16(6), pages 287-329, December.
    10. Heike Joebges & Sebastian Dullien & Alejandro Márquez-Velázquez, 2015. "What causes housing bubbles?," IMK Studies 43-2015, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    11. Edward Nelson, 2011. "Friedman's monetary economics in practice," Finance and Economics Discussion Series 2011-26, Board of Governors of the Federal Reserve System (U.S.).
    12. Orhan SANLI & Osman PEKER, 2023. "Effect of Inflation, Exchange Rate, Interest Rates and Income on House Sales: a Case of Turkiye," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 10(1), pages 37-60, January.
    13. Kiley, Michael T., 2021. "What macroeconomic conditions lead financial crises?," Journal of International Money and Finance, Elsevier, vol. 111(C).
    14. Lars E. O. Svensson, 2018. "Monetary policy and macroprudential policy: Different and separate?," Canadian Journal of Economics, Canadian Economics Association, vol. 51(3), pages 802-827, August.
    15. Rosen Azad Chowdhury & Dilshad Jahan & Tapas Mishra & Mamata Parhi, 2024. "Monetary policy shock and impact asymmetry in bank lending channel: Evidence from the UK housing sector," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 511-530, January.
    16. Paolo Gelain & Kevin J. Lansing & Gisle J. Natvik, 2018. "Explaining the Boom–Bust Cycle in the U.S. Housing Market: A Reverse‐Engineering Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(8), pages 1751-1783, December.
    17. Passmore, Stuart Wayne & von Hafften, Alexander H., 2020. "Financing affordable and sustainable homeownership with Fixed-COFI mortgages," Regional Science and Urban Economics, Elsevier, vol. 80(C).
    18. Heike Joebges & Sebastian Dullien & Alejandro Márquez-Velázquez, 2015. "What causes housing bubbles? A theoretical and empirical inquiry," Competence Centre on Money, Trade, Finance and Development 1501, Hochschule fuer Technik und Wirtschaft, Berlin.
    19. Rybacki, Jakub, 2019. "ECB policy consistency – loss of independence and the real estate bubble?," MPRA Paper 95906, University Library of Munich, Germany.
    20. Jonathan Goldberg & Elizabeth C. Klee & Edward Simpson Prescott & Paul R. Wood, 2020. "Monetary Policy Strategies and Tools: Financial Stability Considerations," Finance and Economics Discussion Series 2020-074, Board of Governors of the Federal Reserve System (U.S.).
    21. Shi, Song & Jou, Jyh-Bang & Tripe, David, 2014. "Can interest rates really control house prices? Effectiveness and implications for macroprudential policy," Journal of Banking & Finance, Elsevier, vol. 47(C), pages 15-28.
    22. Christophe Blot & Paul Hubert & Fabien Labondance, 2018. "Monetray policy and asset price bubbles," SciencePo Working papers Main hal-03471562, HAL.
    23. Hao Meng & Hai-Chuan Xu & Wei-Xing Zhou & Didier Sornette, 2017. "Symmetric thermal optimal path and time-dependent lead-lag relationship: novel statistical tests and application to UK and US real-estate and monetary policies," Quantitative Finance, Taylor & Francis Journals, vol. 17(6), pages 959-977, June.
    24. Wayne Passmore & Alexander H. von Hafften, 2018. "Financing Affordable and Sustainable Homeownership with Fixed-COFI Mortgages," Finance and Economics Discussion Series 2018-009, Board of Governors of the Federal Reserve System (U.S.).
    25. Howard, Greg & Liebersohn, Jack, 2020. "Regional Divergence and House Prices," Working Paper Series 2020-04, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    26. Boysen-Hogrefe, Jens & Gern, Klaus-Jürgen & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Plödt, Martin & Schwarzmüller, Tim & van Roye, Björn & Scheide, Joachim, 2014. "Finanz- und Wirtschaftspolitik bei einer anhaltenden monetären Expansion," Kieler Beiträge zur Wirtschaftspolitik 5, Kiel Institute for the World Economy (IfW Kiel).
    27. Pascal Towbin & Mr. Sebastian Weber, 2015. "Price Expectations and the U.S. Housing Boom," IMF Working Papers 2015/182, International Monetary Fund.
    28. Jean-Charles BRICONGNE & Alessandro TURRINI & Peter PONTUCH, 2019. "Assessing House Prices: Insights from HouseLev, a Dataset of Price Level Estimates," LEO Working Papers / DR LEO 2675, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    29. Christophe Blot & Paul Hubert & Fabien Labondance, 2020. "The asymmetric effects of monetary policy on stock price bubbles," Documents de Travail de l'OFCE 2020-12, Observatoire Francais des Conjonctures Economiques (OFCE).
    30. Roy, Saktinil & Kemme, David M., 2020. "The run-up to the global financial crisis: A longer historical view of financial liberalization, capital inflows, and asset bubbles," International Review of Financial Analysis, Elsevier, vol. 69(C).
    31. Zhu, Bing & Betzinger, Michael & Sebastian, Steffen, 2017. "Housing market stability, mortgage market structure, and monetary policy: Evidence from the euro area," Journal of Housing Economics, Elsevier, vol. 37(C), pages 1-21.
    32. Marie-Louise Djigbenou, 2014. "Determinants of Global Liquidity Dynamics:a FAVAR approach," Working Papers hal-00956314, HAL.
    33. Andreas Fuster & Basit Zafar, 2021. "The Sensitivity of Housing Demand to Financing Conditions: Evidence from a Survey," American Economic Journal: Economic Policy, American Economic Association, vol. 13(1), pages 231-265, February.
    34. Janet L. Yellen, 2016. "Macroeconomic Research After the Crisis : a speech at \"The Elusive 'Great' Recovery: Causes and Implications for Future Business Cycle Dynamics\" 60th annual economic conference sponsored b," Speech 915, Board of Governors of the Federal Reserve System (U.S.).
    35. Michael T. Kiley & Frederic S. Mishkin, 2024. "Central Banking Post Crises," Finance and Economics Discussion Series 2024-035, Board of Governors of the Federal Reserve System (U.S.).
    36. Alter, Adrian & Mahoney, Elizabeth M., 2021. "Local house-price vulnerability: Evidence from the U.S. and Canada," Journal of Housing Economics, Elsevier, vol. 54(C).
    37. He Gao & Walter Timo de Vries & Minrui Zheng & Jianping Ye, 2023. "State Capacity to Influence Actor Relations within the Chinese Real Estate Market: An Analytical Framework," Land, MDPI, vol. 12(8), pages 1-18, August.
    38. Stefan Eichler & Tom Lähner, 2014. "Regional House Price Dynamics And Voting Behavior In The Fomc," Economic Inquiry, Western Economic Association International, vol. 52(2), pages 625-645, April.
    39. Bäckman, Claes & Lutz, Chandler, 2020. "The impact of interest-only loans on affordability," Regional Science and Urban Economics, Elsevier, vol. 80(C).
    40. McCarthy, Yvonne & McQuinn, Kieran, 2017. "Credit conditions in a boom and bust property market: Insights for macro-prudential policy," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 171-182.
    41. David L. Reifschneider, 2016. "Gauging the Ability of the FOMC to Respond to Future Recessions," Finance and Economics Discussion Series 2016-068, Board of Governors of the Federal Reserve System (U.S.).
    42. Thomas Goda & Chris Stewart & Alejandro Torres García, 2016. "Absolute Income Inequality and Rising House Prices," Documentos de Trabajo de Valor Público 15247, Universidad EAFIT.
    43. Jerome H. Powell, 2019. "Business Debt and Our Dynamic Financial System : a speech At \"Mapping the Financial Frontier: What Does the Next Decade Hold?” 24th Annual Financial Markets Conference, sponsored by the Federal ," Speech 1066, Board of Governors of the Federal Reserve System (U.S.).
    44. Chang, Yuk Ying & Anderson, Hamish & Shi, Song, 2018. "China and international housing price growth," China Economic Review, Elsevier, vol. 50(C), pages 294-312.
    45. Phurichai Rungcharoenkitkul, 2015. "Bank competition and credit booms," BIS Working Papers 488, Bank for International Settlements.
    46. Scott, C. Patrick, 2016. "Asymmetric preferences and monetary policy deviations," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 325-334.
    47. Chung Yim Yiu, 2023. "A Natural Quasi-Experiment of the Monetary Policy Shocks on the Housing Markets of New Zealand during COVID-19," JRFM, MDPI, vol. 16(2), pages 1-16, January.
    48. Mahua Barari & Srikanta Kundu, 2019. "The Role of the Federal Reserve in the U.S. Housing Crisis: A VAR Analysis with Endogenous Structural Breaks," JRFM, MDPI, vol. 12(3), pages 1-20, July.
    49. Dominika Ehrenbergerova & Josef Bajzik, 2020. "The Effect of Monetary Policy on House Prices - How Strong is the Transmission?," Working Papers 2020/14, Czech National Bank.

  22. Michael T. Kiley, 2010. "Habit Persistence, Nonseparability between Consumption and Leisure, or Rule-of-Thumb Consumers: Which Accounts for the Predictability of Consumption Growth?," The Review of Economics and Statistics, MIT Press, vol. 92(3), pages 679-683, August.
    See citations under working paper version above.
  23. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2010. "A comparison of forecast performance between Federal Reserve staff forecasts, simple reduced-form models, and a DSGE model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(4), pages 720-754.
    See citations under working paper version above.
  24. Edge, Rochelle M. & Kiley, Michael T. & Laforte, Jean-Philippe, 2008. "Natural rate measures in an estimated DSGE model of the U.S. economy," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2512-2535, August.
    See citations under working paper version above.
  25. Michael T. Kiley, 2008. "Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.

    Cited by:

    1. Michael T. Kiley, 2022. "Anchored or Not: How Much Information Does 21st Century Data Contain on Inflation Dynamics?," Finance and Economics Discussion Series 2022-016, Board of Governors of the Federal Reserve System (U.S.).

  26. Michael T. Kiley, 2007. "Is Moderate-to-High Inflation Inherently Unstable?," International Journal of Central Banking, International Journal of Central Banking, vol. 3(2), pages 173-201, June.
    See citations under working paper version above.
  27. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2005. "An estimated DSGE model of the US economy with an application to natural rate measures," Proceedings, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Michael T. Kiley & Jean-Philippe Laforte & Rochelle M. Edge, 2008. "The Sources of Fluctuations in Residential Investment: A View from a Policy-Oriented DSGE Model of the U.S. Economic," 2008 Meeting Papers 990, Society for Economic Dynamics.
    2. Matteo Iacoviello & Stefano Neri, 2010. "Housing Market Spillovers: Evidence from an Estimated DSGE Model," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 125-164, April.
    3. Christopher A. Sims, 2006. "Improving Monetary Policy Models," Working Papers 74, Princeton University, Department of Economics, Center for Economic Policy Studies..
    4. Michael Kiley & Jean-Philippe Laforte & Rochelle Edge, 2009. "Investment Shocks and the Business Cycle: The View from a Policy-Oriented DSGE model," 2009 Meeting Papers 148, Society for Economic Dynamics.
    5. Andrle, Michal, 2008. "The Role of Trends and Detrending in DSGE Models," MPRA Paper 13289, University Library of Munich, Germany.
    6. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2009. "A comparision of forecast, simple reduced-form models, and a DSGE model," CAMA Working Papers 2009-03, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    7. Rochelle M. Edge & Michael T. Kiley & Jean-Philippe Laforte, 2010. "A comparison of forecast performance between Federal Reserve staff forecasts, simple reduced-form models, and a DSGE model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(4), pages 720-754.
    8. Thorvardur Tjörvi Ólafsson, 2006. "The New Keynesian Phillips Curve: In Search of Improvements and Adaptation to the Open Economy," Economics wp31_tjorvi, Department of Economics, Central bank of Iceland.
    9. Adrian R. Pagan & M. Hashem Pesaran, 2008. "Econometric Analysis of Structural Systems with Permanent and Transitory Shocks," Discussion Papers 2008-04, School of Economics, The University of New South Wales.
    10. Michael T. Kiley, 2010. "Output gaps," Finance and Economics Discussion Series 2010-27, Board of Governors of the Federal Reserve System (U.S.).
    11. Jean-Stephane Mesonnier, 2011. "The forecasting power of real interest rate gaps: an assessment for the Euro area," Applied Economics, Taylor & Francis Journals, vol. 43(2), pages 153-172.
    12. Matthew Canzoneri, 2007. "Coordination of Monetary and Fiscal Policy in a Monetary Union: Policy Issues & Analytical Models," Money Macro and Finance (MMF) Research Group Conference 2006 165, Money Macro and Finance Research Group.
    13. Michael T. Kiley, 2008. "Inflation expectations, uncertainty, the Phillips curve, and monetary policy - comments," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.

  28. Michael T. Kiley, 2005. "A quantitative comparison of sticky-price and sticky-information models of price setting," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    See citations under working paper version above.
  29. Michael T. Kiley, 2004. "Stock Prices and Fundamentals: A Macroeconomic Perspective," The Journal of Business, University of Chicago Press, vol. 77(4), pages 909-936, October.

    Cited by:

    1. Rajnish Mehra, 2010. "Indian Equity Markets: Measures of Fundamental Value," NBER Working Papers 16061, National Bureau of Economic Research, Inc.
    2. Bahaa Sobhi AbdeLatif Awwad & Ammar Zakaria Abdallh Salem, 2019. "The Role of Financial Analysis in Assessing the Prices of Shares of Jordanian Industrial Joint Stock Companies Listed on the Amman Stock Exchange," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 11(6), pages 120-120, June.
    3. Madsen, Jakob B., 2010. "Growth and capital deepening since 1870: Is it all technological progress?," Journal of Macroeconomics, Elsevier, vol. 32(2), pages 641-656, June.
    4. Aikman, David & Bridges, Jonathan & Burgess, Stephen & Galletly, Richard & Levina, Iren & O'Neill, Cian & Varadi, Alexandra, 2018. "Measuring risks to UK financial stability," Bank of England working papers 738, Bank of England.

  30. Kiley Michael T., 2003. "An Analytical Approach to the Welfare Cost of Business Cycles and the Benefit from Activist Monetary Policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-26, March.
    See citations under working paper version above.
  31. Kiley Michael T., 2003. "How Should Unemployment Benefits Respond to the Business Cycle?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 3(1), pages 1-22, July.
    See citations under working paper version above.
  32. Michael T. Kiley, 2003. "Why Is Inflation Low When Productivity Growth Is High?," Economic Inquiry, Western Economic Association International, vol. 41(3), pages 392-406, July.

    Cited by:

    1. Nathaniel Throckmorton & Benjamin Keen & Alexander Richter & William Gavin, 2013. "Global Dynamics at the Zero Lower Bound," 2013 Meeting Papers 839, Society for Economic Dynamics.
    2. Gavin, William T. & Keen, Benjamin D. & Richter, Alexander W. & Throckmorton, Nathaniel A., 2015. "The zero lower bound, the dual mandate, and unconventional dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 55(C), pages 14-38.
    3. Susanto Basu & John G. Fernald & Miles S. Kimball, 2004. "Are technology improvements contractionary?," Working Paper Series WP-04-20, Federal Reserve Bank of Chicago.
    4. William T. Gavin & Benjamin D. Keen & Michael R. Pakko, 2009. "Taylor-type rules and permanent shifts in productivity growth," Working Papers 2009-049, Federal Reserve Bank of St. Louis.
    5. Tesfaselassie, Mewael F., 2014. "Trend growth and learning about monetary policy rules," Journal of Economic Dynamics and Control, Elsevier, vol. 41(C), pages 241-256.
    6. Christian Pierdzioch & Jan-Christoph Rülke & Peter Tillmann, 2013. "Using forecasts to uncover the loss function of FOMC members," MAGKS Papers on Economics 201302, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    7. Meijers, Huub, 2006. "Diffusion of the Internet and low inflation in the information economy," Information Economics and Policy, Elsevier, vol. 18(1), pages 1-23, March.

  33. Kiley, Michael T, 2002. "Partial Adjustment and Staggered Price Setting," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 34(2), pages 283-298, May.
    See citations under working paper version above.
  34. Michael Kiley, 2002. "The lead of output over inflation in sticky price models," Economics Bulletin, AccessEcon, vol. 5(5), pages 1-7.
    See citations under working paper version above.
  35. Kiley, Michael T., 2001. "Computers and growth with frictions: aggregate and disaggregate evidence," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 55(1), pages 171-215, December.

    Cited by:

    1. Vasilev, Aleksandar, 2019. "An RBC model with investment-specific technological change: Lessons for Bulgaria (1999-2018)," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue forthcomi.
    2. Cédric Audenis & Julien Deroyon & Nathalie Fourcade, 2005. "L'impact des Nouvelles Technologies de l'Information et de la Communication sur l'économie française. Un bouclage macroéconomique," Revue économique, Presses de Sciences-Po, vol. 56(1), pages 99-125.
    3. Hyunbae Chun, 2007. "The Impact Of Information Technology On Labor Productivity Growth: Evidence From Five OECD Countries, 1970-1990," Korean Economic Review, Korean Economic Association, vol. 23, pages 5-32.
    4. Stephen D. Oliner & Daniel E. Sichel & Kevin J. Stiroh, 2007. "Explaining a Productive Decade," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 38(1), pages 81-152.
    5. Jesús Rodríguez López & Diego Martínez López & José Luis Torres Chacón, 2007. "The Productivity Paradox and the New Economy: The Spanish Case," Working Papers 07.01, Universidad Pablo de Olavide, Department of Economics.
    6. José Luis Torres Chacon, 2015. "Introduction to Dynamic Macroeconomic General Equilibrium Models," Vernon Press Titles in Economics, Vernon Art and Science Inc, edition 2, number 54.
    7. Martínez, Diego & Rodríguez, Jesús & Torres, José L., 2010. "ICT-specific technological change and productivity growth in the US: 1980-2004," Information Economics and Policy, Elsevier, vol. 22(2), pages 121-129, May.
    8. Francesco Venturini & Ana Rincon-Aznar & Dr Michela Vecchi, 2013. "ICT as a general purpose technology: spillovers, absorptive capacity and productivity performance," National Institute of Economic and Social Research (NIESR) Discussion Papers 416, National Institute of Economic and Social Research.
    9. Oliner, Stephen D. & Sichel, Daniel E., 2003. "Information technology and productivity: where are we now and where are we going?," Journal of Policy Modeling, Elsevier, vol. 25(5), pages 477-503, July.
    10. Hyunbae Chun & Sung-Bae Mun, 2005. "The Structure of Adjustment Costs in Information Technology Investment," Economics Bulletin, AccessEcon, vol. 5(4), pages 1-9.
    11. Argandoña, Antonio, 2001. "Nueva economía y el crecimiento económico, La," IESE Research Papers D/437, IESE Business School.
    12. Székely-Doby, András, 2006. "Vernon és a számítógép. Az információs technológiai forradalom és a termékciklus-hipotézis összefüggései [Vernon and the computer. Connections between the information technology revolution and the ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 812-826.
    13. Oliner, Stephen D. & Sichel, Daniel E., 2005. "Les technologies de l’information et la productivité : situation actuelle et perspectives d’avenir," L'Actualité Economique, Société Canadienne de Science Economique, vol. 81(1), pages 339-400, Mars-Juin.
    14. Venturini, Francesco, 2015. "The modern drivers of productivity," Research Policy, Elsevier, vol. 44(2), pages 357-369.
    15. Bakhshi, Hasan & Larsen, Jens, 2005. "ICT-specific technological progress in the United Kingdom," Journal of Macroeconomics, Elsevier, vol. 27(4), pages 648-669, December.
    16. Liao, Hailin & Wang, Bin & Li, Baibing & Weyman-Jones, Tom, 2016. "ICT as a general-purpose technology: The productivity of ICT in the United States revisited," Information Economics and Policy, Elsevier, vol. 36(C), pages 10-25.
    17. Ana Rincon & Michela VECCHI & Francesco VENTURINI, 2012. "ICT spillovers, absorptive capacity and productivity performance," Quaderni del Dipartimento di Economia, Finanza e Statistica 103/2012, Università di Perugia, Dipartimento Economia.
    18. James Bessen, 2002. "Technology Adoption Costs and Productivity Growth: The Transition to Information Technology," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 443-469, April.
    19. Najeh AISSAOUI, 2017. "ICT and growth gap between nations: Evidence from MENA region," E3 Journal of Business Management and Economics., E3 Journals, vol. 8(1), pages 026-037.
    20. Duggal, Vijaya G. & Saltzman, Cynthia & Klein, Lawrence R., 2007. "Infrastructure and productivity: An extension to private infrastructure and it productivity," Journal of Econometrics, Elsevier, vol. 140(2), pages 485-502, October.
    21. Mirajul Haq & Syed Kafait Hussain Naqvi & Muhammad Luqman, 2016. "Is the Value Addition in Services and Manufacturing Complementary? Empirical Evidence from SAARC," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 21(2), pages 31-52, July-Dec.

  36. Kiley, Michael T, 2000. "Endogenous Price Stickiness and Business Cycle Persistence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 32(1), pages 28-53, February.
    See citations under working paper version above.
  37. Kiley, Michael T, 1999. "The Supply of Skilled Labour and Skill-Biased Technological Progress," Economic Journal, Royal Economic Society, vol. 109(458), pages 708-724, October.
    See citations under working paper version above.
  38. Kiley, Michael T., 1998. "Predicting Tax Rate Changes: Insights from the Permanent Income Hypothesis," Journal of Macroeconomics, Elsevier, vol. 20(1), pages 153-167, January.

    Cited by:

    1. Dole, C. A., 2000. "Optimal Taxation and the Stationarity of State Tax Rates," Journal of Macroeconomics, Elsevier, vol. 22(3), pages 515-531, July.

  39. Kiley, Michael T., 1997. "Efficiency wages, nominal rigidities and the cyclical behavior of real wages and marginal cost," Economics Letters, Elsevier, vol. 56(2), pages 215-221, October.
    See citations under working paper version above.

Software components

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Chapters

  1. Hess Chung & Edward Herbst & Michael T. Kiley, 2014. "Effective Monetary Policy Strategies in New Keynesian Models: A Reexamination," NBER Chapters, in: NBER Macroeconomics Annual 2014, Volume 29, pages 289-344, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  2. Boivin, Jean & Kiley, Michael T. & Mishkin, Frederic S., 2010. "How Has the Monetary Transmission Mechanism Evolved Over Time?," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 8, pages 369-422, Elsevier.
    See citations under working paper version above.Sorry, no citations of chapters recorded.
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