Three Essays On Inflation Expectations

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Three Essays On Inflation Expectations

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Author : Rolande Carine Baï Kpekou Tossou
language : en
Publisher:
Release Date : 2020

Three Essays On Inflation Expectations written by Rolande Carine Baï Kpekou Tossou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.

Résumé en anglais

Three Essays On Inflation Expectations In Empirical Macroeconomics

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Author : Max Diegel
language : en
Publisher:
Release Date : 2022

Three Essays On Inflation Expectations In Empirical Macroeconomics written by Max Diegel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.

Three Essays On The Variance Of Inflation Expectations And Macroeconomic Stability

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Author : George William Evans (Ph. D.)
language : en
Publisher:
Release Date : 1980

Three Essays On The Variance Of Inflation Expectations And Macroeconomic Stability written by George William Evans (Ph. D.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with categories.

Three Essays On The Behavior Of Monetary Policy

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Author : Michael T. Owyang
language : en
Publisher:
Release Date : 2000

Three Essays On The Behavior Of Monetary Policy written by Michael T. Owyang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Inflation (Finance) categories.

Inflation Expectations Housing Market Dynamics And Global Common Output Gap

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Author : Dong Fu
language : en
Publisher:
Release Date : 2007

Inflation Expectations Housing Market Dynamics And Global Common Output Gap written by Dong Fu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Housing categories.

Three Essays On Monetary And Fiscal Policy

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Author : Ruoyun Mao
language : en
Publisher:
Release Date : 2020

Three Essays On Monetary And Fiscal Policy written by Ruoyun Mao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Direct costing categories.

The dissertation consists of three essays studying the effects of monetary and fiscal policy. The first chapter, ''Policy Uncertainty and Government Spending Effects'' (joint with Shu-Chun Yang), studies government spending multipliers in a low nominal interest rate environment. Using a fully nonlinear New Keynesian model, this chapter shows government spending multipliers can decrease when 1) the initial debt-to-GDP ratio is higher, 2) the tax rate is higher, 3) debt maturity is longer, and 4) monetary policy is more responsive to inflation. When monetary and fiscal policy regimes can switch, policy uncertainty also reduces spending multipliers. If higher inflation induces a rising probability of switching to a regime where monetary policy actively controls inflation and fiscal policy raises future taxes to stabilize government debt, the multipliers can fall much below unity.The second chapter is a joint work with Zhao Han and Xiaohan Ma and studies how dispersed information impacts inflation, inflation expectations, and the Phillips curve by analytically solving a price-setting problem with nominal rigidity and informational frictions. The analytical representations enable us to recover the underlying parameters with data from the Survey of Professional Forecasters (SPF) and quantify the effects of dispersed information. The estimation results show dispersed information plays an important role in generating persistent inflation forecast errors and non-zero nowcast errors, as observed in the SPF data, but the effects of higher-order expectations on the Phillips curve are quantitatively small.The last chapter derives the optimal monetary policy when firms only have limited capacity to process information. The result shows marginal cost of attention is the key to determining the trade-off between the central bank's dual mandates. When the marginal cost is low, monetary policy aiming at stabilizing the output gap attracts attention from the private sector and generates inefficient price dispersion; Increasing the marginal cost of attention can eliminate the trade-off. A comparison between a rule-based policy and a discretionary policy confirms welfare gain from commitment. Firms pay extra attention to the policy signal when it is discretionary, which generates more price dispersion and harms welfare.

Three Essays On Monetary Policy Inflation Targeting Rules And Aggregate Shocks

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Author : Ronald Mayembe Simwinga
language : en
Publisher:
Release Date : 2014

Three Essays On Monetary Policy Inflation Targeting Rules And Aggregate Shocks written by Ronald Mayembe Simwinga and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Foreign exchange rates categories.

Finally, the third chapter focuses on the role of IT in offsetting exogenous shocks to aggregate demand and supply in South Africa. The key question is whether inflation, output, and the short-term interest rate have become more resilient in the face of amplified aggregate shocks. South Africa is susceptible to unique exogenous shocks as a result of fluctuations in global commodity demand, which presents serious challenges for monetary policy. While direct first-round effects from such shocks have been large, second round effects which manifest through wage markup demands and sharp rises in inflation expectations exert huge pressures on prices and output. We estimate a structural Vector Autoregression (SVAR) system identified via a small open-economy New Keynesian Model. We find evidence that pass-through of shocks to inflation, output and the short-term policy interest rate is resilient in the inflation targeting period and these variables have been stable relative to the size of aggregate shocks.

Three Essays On

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Author : Moonsuk Oh
language : en
Publisher:
Release Date : 1991

Three Essays On written by Moonsuk Oh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with categories.

Three Essays On Uncertainty And Learning By Economic Agents

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Author : Hilde Patron
language : en
Publisher:
Release Date : 2001

Three Essays On Uncertainty And Learning By Economic Agents written by Hilde Patron and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Federal Reserve banks categories.

Essays On Inflation

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Author : Thomas M. Humphrey
language : en
Publisher:
Release Date : 1979

Essays On Inflation written by Thomas M. Humphrey and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Inflation (Finance) categories.