Zobrazeno 1 - 10
of 89
pro vyhledávání: '"Assenza, T"'
Publikováno v:
In Journal of Monetary Economics January 2021 117:170-186
Publikováno v:
Industrial & Corporate Change. Dec2018, Vol. 27 Issue 6, p1069-1090. 22p. 3 Diagrams, 1 Chart, 6 Graphs.
Publikováno v:
Economic Inquiry, 55(1), 542-564. Wiley-Blackwell
We introduce a simple equilibrium model of a market for loans. Households lend to firms and form expectations about their loan default probability. Under heterogeneous expectations, with switching between forecasting strategies driven by reinforcemen
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::ed939280c54464877c5155c9580cdd43
https://dare.uva.nl/personal/pure/en/publications/animal-spirits-heterogeneous-expectations-and-the-amplification-and-duration-of-crises(43071b1a-6c42-4844-bb46-b864e273206d).html
https://dare.uva.nl/personal/pure/en/publications/animal-spirits-heterogeneous-expectations-and-the-amplification-and-duration-of-crises(43071b1a-6c42-4844-bb46-b864e273206d).html
We use laboratory experiments to study individual expectations and aggregate macro behavior in a New Keynesian framework. Four different aggregate outcomes arise: convergence to equilibrium, explosive behavior along inflationary or deflationary spira
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=narcis______::f3635148e0348821ea7a86d4c54507a2
https://dare.uva.nl/personal/pure/en/publications/managing-selforganization-of-expectations-through-monetary-policy-a-macro-experiment(e8d4649c-2afd-42df-b235-19ccc4e9409d).html
https://dare.uva.nl/personal/pure/en/publications/managing-selforganization-of-expectations-through-monetary-policy-a-macro-experiment(e8d4649c-2afd-42df-b235-19ccc4e9409d).html
Autor:
Assenza, T., Delli Gatti, D.
In this short paper we cast the Greenwald-Stiglitz financial accelerator framework - which was originally defined in a period by period optimization setting - in an intertemporal context. In this way we overcome one of the most frequent objections to
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od_______645::79ee27b7b88c59aa2c1c16d98b5e29dd
http://cendef.uva.nl/binaries/content/assets/subsites/amsterdam-school-of-economics/amsterdam-school-of-economics-research-institute/cendef/working-papers-2013/intertemporalgs_2.pdf?1413883785637
http://cendef.uva.nl/binaries/content/assets/subsites/amsterdam-school-of-economics/amsterdam-school-of-economics-research-institute/cendef/working-papers-2013/intertemporalgs_2.pdf?1413883785637
We introduce a simple equilibrium model of a market for loans, where house-holds lend to firms based on heterogeneous expectations about their loan default probability. Agents select among heterogeneous expectation rules, based upon their relative pe
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=narcis______::d8daf3daf0dfb1da7066c5e2175c9dde
https://dare.uva.nl/personal/pure/en/publications/animal-spirits-heterogeneous-expectations-and-the-emergence-of-booms-and-busts(e8966f7b-3237-4746-a2f6-061e68bd378a).html
https://dare.uva.nl/personal/pure/en/publications/animal-spirits-heterogeneous-expectations-and-the-emergence-of-booms-and-busts(e8966f7b-3237-4746-a2f6-061e68bd378a).html
We introduce a simple equilibrium model of a market for loans. Households lend to firms and form expectations about their loan default probability. Under heterogeneous expectations, with switching between forecasting strategies driven by reinforcemen
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=narcis______::76914a58e4427a1c816e2a10bed7a587
https://dare.uva.nl/personal/pure/en/publications/animal-spirits-heterogeneous-expectations-and-the-amplification-and-duration-of-crises(bc4dd90d-6ac4-47c1-ab10-d3246930b7f7).html
https://dare.uva.nl/personal/pure/en/publications/animal-spirits-heterogeneous-expectations-and-the-amplification-and-duration-of-crises(bc4dd90d-6ac4-47c1-ab10-d3246930b7f7).html
Should the central bank prevent "excessive" asset price dynamics or should it wait until the boom spontaneously turns into a crash and intervene only afterwards? The debate over this issue goes back at least to the exchange between Bernanke-Gertler (
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::5dc350d574e94bb2fe88d3c99340b9ae
https://hdl.handle.net/10419/52439
https://hdl.handle.net/10419/52439
The recent macroeconomic literature stresses the importance of managing heterogeneous expectations in the formulation of monetary policy. We use a simple frictionless DSGE model to investigate inflation dynamics under alternative interest rate rules
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=narcis______::9b1569cb8ed480c795bbafc1d1b6caca
https://dare.uva.nl/personal/pure/en/publications/interest-rate-rules-with-heterogeneous-expectations(08e3382e-c53c-49ce-90e9-4c08752f73e8).html
https://dare.uva.nl/personal/pure/en/publications/interest-rate-rules-with-heterogeneous-expectations(08e3382e-c53c-49ce-90e9-4c08752f73e8).html
The way in which individual expectations shape aggregate macroeconomic variables is crucial for the transmission and effectiveness of monetary policy. We study the individual expectations formation process and the interaction with monetary policy, wi
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::e8aa58da7b7750b8aa9dc78faff540ce
http://hdl.handle.net/10807/32848
http://hdl.handle.net/10807/32848