Zobrazeno 1 - 10
of 11
pro vyhledávání: '"Matt Waldron"'
Publikováno v:
European Economic Review. 111:459-474
We develop a general method for analyzing the effects of macroeconomic policy promises about which the private sector is uncertain. We illustrate the method in two applications to a central bank’s ‘forward guidance’ about the path for its polic
Autor:
Matt Waldron, Richard J. Harrison
Publikováno v:
SSRN Electronic Journal.
This paper develops a piecewise linear toolkit for optimal policy analysis of linear rational expectations models, subject to occasionally binding constraints on (multiple) policy instruments and other variables. Optimal policy minimises a quadratic
Publikováno v:
Journal of Economic Dynamics and Control. 90:138-155
When the monetary policy rate is at the zero bound, “threshold-based forward guidance” (TBFG) is a state-contingent promise to delay liftoff from the zero bound until macroeconomic variables breach particular “thresholds”. We study TBFG withi
Katerina Petrova acknowledges support by the Alan Turing Institute under the EPSRC grant EP/N510129/1. We estimate a time-varying parameter structural macroeconomic model of the UK economy, using a Bayesian local likelihood methodology. This enables
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::36dc9334dcce0142880527d03e5e1083
https://hdl.handle.net/10023/23267
https://hdl.handle.net/10023/23267
How did DSGE model forecasts perform before, during and after the financial crisis, and what type of off-model information can improve the forecast accuracy? We tackle these questions by assessing the real-time forecast performance of a large DSGE mo
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::58ccd8aea91932208d18dee7b027b7f6
https://hdl.handle.net/10807/227840
https://hdl.handle.net/10807/227840
Publikováno v:
SSRN Electronic Journal.
We explore the effects of forward guidance at the zero lower bound when there is uncertainty over the lift-off date arising from: (i) the imperfect credibility of time-inconsistent forward-guidance promises; (ii) incomplete communication. We use a si
Publikováno v:
SSRN Electronic Journal.
We estimate a time varying parameter structural macroeconomic model of the UK economy, using a Bayesian local likelihood methodology. This enables us to estimate a large open-economy DSGE model over a sample that comprises several different regimes a
Publikováno v:
SSRN Electronic Journal.
This paper investigates the real-time forecast performance of the Bank of England’s main DSGE model, COMPASS, before, during and after the financial crisis with reference to statistical and judgemental benchmarks. A general finding is that COMPASS
Publikováno v:
SSRN Electronic Journal.
Motivated by policies implemented by some central banks in response to the financial crisis, we use a simple New Keynesian model to study a particular form of forward guidance. We assume that the policy maker makes a state-contingent commitment to ho
Autor:
Fabrizio Zampolli, Matt Waldron
Publikováno v:
The Blackwell Companion to the Economics of Housing: The Housing Wealth of Nations
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::b304454dae868ed8140dbe320a4d2427
https://doi.org/10.1002/9781444317978.ch5
https://doi.org/10.1002/9781444317978.ch5