Zobrazeno 1 - 10
of 36
pro vyhledávání: '"Gerke, Rafael"'
We study the impact of market incompleteness and bounded rationality on the effectiveness of make-up strategies. To do so, we simulate a heterogeneous-agent New Keynesian (HANK) model with reflective expectations and an occasionally-binding effective
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::c46899e8292f7e803becdc66c333f7a3
https://hdl.handle.net/10419/268488
https://hdl.handle.net/10419/268488
Publikováno v:
In Journal of Macroeconomics September 2012 34(3):757-768
Publikováno v:
In Journal of Macroeconomics June 2012 34(2):318-325
A feature of recent monetary policy asset purchase programmes is the reinvestment policy: the central bank announces to keep the overall volume of assets on its balance sheet constant for some time. In this paper, we systematically assess the macroec
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::6c3310dbb64c3fcab7a01789c0fdd04c
https://hdl.handle.net/10419/266682
https://hdl.handle.net/10419/266682
Publikováno v:
In Economics Letters January 2020 186
We revisit the reversal puzzle: A counterintuitive contraction of inflation in response to an interest rate peg. We show that it is intimately related to the degree of agents' anticipation. If agents perfectly anticipate the peg, reversals occur depe
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::0d4db94bf0ef5ff928c1baab3977b257
https://hdl.handle.net/10419/224478
https://hdl.handle.net/10419/224478
After hitting the lower bound on interest rates, the Eurosystem engaged in a public sector purchase programme (PSPP) and forward guidance (FG). We use prior and posterior predictive analysis to evaluate the importance of parameter uncertainty in an a
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::d4a4910ba2606d698a67199979cce85b
https://hdl.handle.net/10419/178679
https://hdl.handle.net/10419/178679
Autor:
Gerke, Rafael, Hauzenberger, Klemens
The neo-Fisherian view does not consider a negative interest rate gap a prerequisite for boosting inflation. Instead, a negative interest rate gap is said to lower inflation. We discuss this counterintuitive response - known as the Fisher paradox - i
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::f21b2439588d05162425ae69d4cb5ac8
https://hdl.handle.net/10419/162790
https://hdl.handle.net/10419/162790
We analyze the macroeconomic implications of a transient interest-rate peg in combination with a QE program in a non-linear medium-scale DSGE model. In this context, we re-examine what has become known as the reversal puzzle (Carlstrom, Fuerst and Pa
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=od______1687::78a008bfcedd2faac50af3f5a1e068c0
https://hdl.handle.net/10419/162791
https://hdl.handle.net/10419/162791