Zobrazeno 1 - 10
of 23
pro vyhledávání: '"Stefan Laséen"'
Autor:
Stefan Laséen, Andrea Pescatori
Publikováno v:
Canadian Journal of Economics/Revue canadienne d'économique. 53:1246-1273
Should monetary policy use its short‐term policy rate to stabilize the growth in household credit and housing prices with the aim of promoting financial stability? We ask this question for the case of Canada. We find that, to a first approximation,
Publikováno v:
European Economic Review. 113:225-246
In this paper, we study identification and misspecification problems in standard closed and open-economy empirical New-Keynesian DSGE models used in monetary policy analysis. We find that problems with model misspecification still appear to be a firs
Autor:
Johannes Eugster, Kenji Moriyama, Celine Rochon, Ghada Fayad, Nathan Porter, Stefan Laséen, Itai Agur, Zhongxia Zhang, Jeta Menkulasi, Camilo E Tovar Mora, Ran Bi, Katsiaryna Svirydzenka, Aleksandra Zdzienicka, Jiaqian Chen, Helene Poirson Ward
Publikováno v:
IMF Working Papers. 20
Since the global financial crisis, non-reserve-issuing economies (NREs) have been highly sensitive to episodes of external pressures. With monetary policy independence constrained by this sensitivity, many NREs have utilized other policy instruments.
Publikováno v:
SSRN Electronic Journal.
We introduce time-varying systemic risk (a la He and Krishnamurthy, 2014 ) in an otherwise standard New-Keynesian model to study whether simple leaning-against-the-wind interest rate rules can reduce systemic risk and improve welfare. We find that wh
Publikováno v:
Journal of Economic Dynamics and Control. 42:33-49
This paper studies the trade-offs between stabilizing CPI inflation and alternative measures of the output gap in Ramses, the Riksbank's estimated dynamic stochastic general equilibrium (DSGE) mode ...
Autor:
Stefan Laséen, Marzie Taheri Sanjani
Publikováno v:
SSRN Electronic Journal.
Inflation dynamics, as well as its interaction with unemployment, have been puzzling since the Global Financial Crisis (GFC). In this empirical paper, we use multivariate, possibly time-varying, time-series models and show that changes in shocks are
Publikováno v:
SSRN Electronic Journal.
We evaluate forecasts made in real time to support monetary policy decisions at Sveriges Riksbank (the central bank of Sweden) from 2007 to 2013. We compare forecasts made with a DSGE model and a BVAR model with judgemental forecasts published by the
Autor:
Stefan Laséen, Lars E.O. Svensson
Publikováno v:
International Journal of Central Banking. 7(3):1-35
This paper specifies a new convenient algorithm to construct policy projections conditional on alternative anticipated policy rate paths in linearized dynamic stochastic general equilibrium (DSGE) models, such as Ramses, the Riksbank’s main DSGE mo
Publikováno v:
Macroeconomic Dynamics. 12:2-19
In this paper, we compare the empirical properties of closed- and open-economy DSGE models estimated on Euro area data. The comparison is made along several dimensions; we examine the models in terms of their marginal likelihoods, forecasting perform
Publikováno v:
Journal of International Economics. 72:481-511
In this paper, we develop a dynamic stochastic general equilibrium (DSGE) model for an open economy, and estimate it on Euro area data using Bayesian estimation techniques. The model incorporates several open economy features, as well as a number of