Zobrazeno 1 - 10
of 25
pro vyhledávání: '"Brent Bundick"'
Autor:
Nicolas Petrosky-Nadeau, Brent Bundick
Publikováno v:
Federal Reserve Bank of San Francisco, Working Paper Series. :01-38
The Federal Open Market Committee (FOMC) recently revised its interpretation of its maximum employment mandate. In this paper, we analyze the possible effects of this policy change using a theoretical model with frictional labor markets and nominal r
Autor:
Andrew Lee Smith, Brent Bundick
Publikováno v:
The Review of Economics and Statistics. 102:946-965
We examine the macroeconomic effects of forward guidance shocks at the zero lower bound. Empirically, we identify forward guidance shocks using unexpected changes in futures contracts around monetary policy announcements. We then embed these policy s
Publikováno v:
SSRN Electronic Journal.
Autor:
Andrew Lee Smith, Brent Bundick
Publikováno v:
The Federal Reserve Bank of Kansas City Economic Review.
In 2012, the Federal Reserve adopted a 2 percent target for inflation to firmly anchor longer-term inflation expectations. Since then, inflation has averaged about 1.4 percent. Modern theories suggest that inflation should eventually gravitate toward
Autor:
Nicolas Petrosky-Nadeau, Brent Bundick
Publikováno v:
SSRN Electronic Journal.
The Federal Open Market Committee (FOMC) recently revised its interpretation of its maximum employment mandate. In this paper, we analyze the possible effects of this policy change using a theoretical model with frictional labor markets and nominal r
Autor:
Brent Bundick, Andrew Lee Smith
Publikováno v:
The Federal Reserve Bank of Kansas City Research Working Papers.
Although a growing literature argues output is too sensitive to future interest rates in standard macroeconomic models, little empirical evidence has been put forth to evaluate this claim. In this paper, we use a range of vector autoregression models
Autor:
Susanto Basu, Brent Bundick
Publikováno v:
Econometrica. 86:1527-1531
de Groot, Richter, and Throckmorton, 2018 argue that the model in Basu and Bundick, 2017 can match the empirical evidence only because the model assumes an asymptote in the economy's response to an uncertainty shock. In this Reply, we provide new res
Autor:
Brent Bundick, Andrew Lee Smith
Publikováno v:
SSRN Electronic Journal.
In a macroeconomic model with drifting long-run inflation expectations, the anchoring of inflation expectations manifests in two testable predictions. First, expectations about inflation far in the future should no longer respond to news about curren
Publikováno v:
SSRN Electronic Journal.
Although a growing literature argues output is too sensitive to future interest rates in standard macroeconomic models, little empirical evidence has been put forth to evaluate this claim. In this paper, we use a range of vector autoregression models
Autor:
Brent Bundick, Emily Pollard
Publikováno v:
The Federal Reserve Bank of Kansas City Economic Review.
The cost of college tuition increased rapidly from 1980 to 2004 at a rate of about 7 percent per year, significantly outpacing the overall inflation rate. Since 2005, college tuition inflation has slowed markedly and has averaged closer to 2 percent