1 - 7 of 7 articles
Abstract Although policymakers and practitioners are particularly interested in dynamic stochastic general equilibrium (DSGE) models, these are typically too stylized to be applied directly to the data and often yield weak prediction results. Very recently, hybrid DSGE models have become popular...
Abstract This paper reconsiders the popular Brock and Hommes (Brock, W. A., and C. H. Hommes. 1997. “A Rational Route to Randomness.” Econometrica 65: 1059–1096.) framework for the study of the evolution of agents’ choices when different behavioural strategies are available. In particular, we...
Abstract We examine both the degree and the structural stability of inflation persistence at different quantiles of the conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation rate. As economic theory provides reasons for...
Abstract We investigate how the entire term structure of interest rates is influenced by changes in monetary policy regimes. To do so, we develop and estimate an arbitrage-free dynamic term-structure model which accounts for regime shifts in monetary policy and price of risk. Our results for US...
Abstract In this paper, we introduce endogenous technological change through R&D expenditure on labor-augmenting innovation in the cyclical growth model by Goodwin (Goodwin, R. 1967. “A Growth Cycle.” In Socialism, Capitalism, and Economic Growth , edited by Carl Feinstein, Cambridge, UK:...
Abstract This paper studies whether the relationship between monetary policy shocks of different size and output is better described by threshold autoregressive (TAR) or smooth transition autoregressive (STAR) dynamics. Using a Bayesian framework, a TAR process and a STAR process are formally...
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Sign Up Log In
To subscribe to email alerts, please log in first, or sign up for a DeepDyve account if you don’t already have one.
To get new article updates from a journal on your personalized homepage, please log in first, or sign up for a DeepDyve account if you don’t already have one.