Zobrazeno 1 - 10
of 40
pro vyhledávání: '"Anton Nakov"'
Publikováno v:
The Economic Journal. 132:546-581
We study monetary transmission in a model of state-dependent prices and wages based on ‘control costs’. Stickiness arises because precise choice is costly: decision makers tolerate errors both in the timing of adjustments, and in the new level at
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::4ca508edcee7ff399a542875d0437d6b
https://doi.org/10.1093/ej/ueab063
https://doi.org/10.1093/ej/ueab063
Autor:
Peter Karadi, Anton Nakov
Publikováno v:
Journal of Monetary Economics. 117:1096-1117
This paper analyzes optimal asset-purchase policies in a macroeconomic model with banks, which face occasionally-binding balance-sheet constraints. It proves analytically that asset-purchase policies are effective in offsetting large financial distur
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::b02ddfeab94b723c77e404c7039a074d
https://doi.org/10.1016/j.jmoneco.2020.09.002
https://doi.org/10.1016/j.jmoneco.2020.09.002
Autor:
James Costain, Anton Nakov
Publikováno v:
Journal of Money, Credit and Banking. 51:43-78
Proponemos un modelo cuasi racional de ajustes de precios en el mercado minorista que es coherente con la evidencia micro y macro de la dinamica de los precios. Nuestro marco esta basado en la idea de que evitar errores en las decisiones implica un c
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::b7eac4a2c445618eea8aa7213ca01ed9
https://doi.org/10.1111/jmcb.12559
https://doi.org/10.1111/jmcb.12559
Publikováno v:
SSRN Electronic Journal.
This paper studies the dynamic general equilibrium effects of monetary shocks in a "control cost" model of state-dependent retail price adjustment and state-dependent wage adjustment. Suppliers of retail goods and of labor are both monopolistic compe
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::21e78523b31d4f5b0f784b95063e6906
https://doi.org/10.2139/ssrn.3372998
https://doi.org/10.2139/ssrn.3372998
Autor:
Galo Nuño, Anton Nakov
Publikováno v:
Journal of Economic Dynamics and Control. 52:224-239
We study the dynamics of a Lucas-tree model with …nitely lived individuals who “learn from experience.” Individuals update expectations by Bayesian learning based on observations from their own lifetimes. In this model, the stock price exhibits
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::b3377dc72c1f221350e027078a7d54e7
https://doi.org/10.1016/j.jedc.2014.11.017
https://doi.org/10.1016/j.jedc.2014.11.017
Autor:
Peter Hoffmann, Eric Persson, Günter Coenen, Gaetano Gaballo, Anton Nakov, Stefano Nardelli, Georg Strasser, Michael Ehrmann
Publikováno v:
SSRN Electronic Journal.
Monetary policy communication is particularly important during unconventional times, because high uncertainty about the economy, the introduction of new policy tools and possible limits to the central bank’s toolkit could hamper the predictability
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::31391488c17080b9796e462cc82bde09
https://doi.org/10.2139/ssrn.3043098
https://doi.org/10.2139/ssrn.3043098
Autor:
Anton Nakov, Galo Nuño
Publikováno v:
The Economic Journal. 123:1333-1362
In this paper we document two features that have made Saudi Arabia dierent from other oil producers. First, it has typically maintained ample spare capacity. Second, its production has been quite volatile even though it has witnessed few domestic sho
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::a53128b3daf19ffe803df6ed5ecd40eb
https://doi.org/10.1111/ecoj.12031
https://doi.org/10.1111/ecoj.12031
Autor:
James Costain, Anton Nakov
Publikováno v:
Finance and Economics Discussion Series. 2011:1-51
Starting from the assumption that firms are more likely to adjust their prices when doing so is more valuable, this paper analyzes monetary policy shocks in a DSGE model with firm-level heterogeneity. The model is calibrated to retail price microdata
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::158d48c0616ee95fa386d82312d7862c
https://doi.org/10.17016/feds.2011.50
https://doi.org/10.17016/feds.2011.50
Autor:
Anton Nakov, James Costain
Publikováno v:
Journal of Money, Credit and Banking. 43:385-406
In this paper, we show that a simple model of smoothly state-dependent pricing generates a distribution of price adjustments similar to that observed in microeconomic data, both for low and high inflation. Our setup is based on one fundamental assump
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::0b307e9ca2bb69799f9d83ed03f9662f
https://doi.org/10.1111/j.1538-4616.2010.00378.x
https://doi.org/10.1111/j.1538-4616.2010.00378.x
Autor:
Carlos Thomas, Anton Nakov
Publikováno v:
Finance and Economics Discussion Series. 2011:1-28
In an abstract economic model, we study optimal monetary policy from the timeless perspective under a general state-dependent pricing framework. We find that when firms are monopolistic competitors subject to idiosyncratic menu cost shocks, household
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::a0cb412fa0156fab5cc6f962f2d1029e
https://doi.org/10.17016/feds.2011.48
https://doi.org/10.17016/feds.2011.48