Optimal monetary policy with a zero bound on nominal interest rates: (three essays)
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Frankfurt am Main
Univ.
2005
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Frankfurt am Main, Univ., Diss., 2005. - Enth.: Optimal monetary policy under commitment with a zero bound on nominal interest rates. - Optimal monetary policy under discretion with a zero bound on nominal interest rates - u.a. |
| Beschreibung: | VIII, 110 S. graph. Darst. |
Internformat
MARC
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Datensatz im Suchindex
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| adam_text | OPTIMAL MONETARY POLICY WITH A ZERO BOUND ON NOMINAL INTEREST RATES
(THREE ESSAYS) HUIMJIIRAL-DTSNF.RLAT UM ZUR ERIAUGUUY DC.T DOKLORGRADES
DER JOHANN WOLFGANG GOT THE-UNIVEMIT TIT FRANKFURT, AM MAIN VORGFLEGT
VON: ROTXSRK MARIO BILLI MIS: NEW YORK, N.Y. (U.S.A.) KRWHEINMIGSJAHR:
2005 A 244805 CONTENTS OPTIMAL MONETARY POLICY UNDER COMMITMENT, WITH A
ZERO BOUND ON NOMINAL INTEREST RATES (FIRST ESSAY) 1 INT RODUCT ION - 2
2 RELATED LITERATURE 4 3 THE MONETARY POLICY PROBLEM G 3.1 DISCUSSION 7
3.1.1 POLICY INSTRUMENTS 7 3.1.2 HOW MUCH NON-LINEARITY? 7 4 MODEL
CALIBRATION 8 5 SOLVING LITE MODEL 9 6 OPTIMAL POLICY WILL) LOWER BOUND
10 (I. 1 OPTIMAL POLICY FUNCTIONS 11, 6.2 DYNAMIC RESPONSE TO REAL LIATE
SHOCK-. 12 6.3 FREQUENCY OF BINDING, RAWS AND WELFARE IMPLICATIONS 13
0.1 GLOBAL IMPLICATIONS OF BINDING SHOCKS 11 7 SENSITIVITY ANALYSIS 15
7.1 MORE VARIABLE SHOCKS 15 7.2 LOWER INTEREST RATE KLASTICITY OF
OUTPUT, 17 8 CONCLUSIONS 18 A APPENDIX 19 A.I IDENTIFICATION OF
HISTORICAL SHOCKS (BASELINE CALIBRATION) IS) A.2 NUMERICAL ALGORITHM 20
A.3 IDENTIFICATION OF HISTORICAL SHOCKS (RBC CALIBRATION) 23 REFERENCES
23 OPTIMAL MONETAIY POLICY UNDER DISCRETION WITH A ZERO BOUND ON NOMINAL
INTEREST LTATES (SECOND ESSAY) 1 INTRODUCTION 39 2 RELATED LITERATURE 12
3 THE MODEL 43 . S.I DISCUSSION 45 3.1.1 RELATION TO EARLIER WORK 45
3.1. 2 POLICY INSTRUMENTS . 15 3.1.3 HOW MUCH TFOTI-LINEARITY? 40 4
DISCRETIONARY EQUILIBRIUM 47 5 CALIBRATION TO U.S. ECONOMY 18 0
PERFECT. FOROSI&HT 48 7 STOCHASTIC EQUILIBRIUM 50 7.1 IMPAETON AVERAGE
VALUES 50 7.2 OPTIMAL POLICY RESPONSE TO SHOCKS 51 7.3 WELFARE LOSSES
AND FREQUENCY OF ZERO .NOMINAL RAITS 53 7.4 POSITIVE INFLATION TARGETS
54 8 SENSITIVITY ANALYSIS 56 8.1 IHBRID PHILLIPS CURVE 50 8.2 MON?
VARIABLE SHOCKS 58 8.3 LOWER INTEREST RALE ELASTICITY OF OUT PUT 50 0
CONCLUSIONS 59 A APPENDIX 60 A.I NUMERICAL ALGORITHM IFORWARD-LOOKING
PHILLIPS CURVE) 00 A.2 PROOF OF PROPOSIT ION 1 61 A.3 NUMERICAL
ALGORITHM I HYBRID PHILLIPS CURVE) 63 REFERENCES 65 THE OPTIMAL
INLIATION BUFFER WITH A ZERO BOUND ON NOMINAL INTEREST LTATES (THIRD
ESSAY) 1 INTRODUCTION 77 2 RELATED LITERATURE 78 3 MODEL AND CALIBRATION
3.1 MONETARY POLICY PROBLEM 81 3.2 CALIBRATION TO U.S. KCONONIV 83 1
OPTIMAL POLICY HI LI BUFFER ROLE OFLUFLATION . 81 4.2 POLICY RESPONSES
86 1.3 PREEMPTIVE EASING, 87 1.4 DYNAMIC RESPONSES 5 TRADITIONAL IJOS-S
FUNCTION 89 6. DOWNWARD NOMINAL RIGIDITY !)0 7. CONCLUSIONS 92 A
APPENDIX 03 A.I SOLVING THE MODEL $13 A.2 NUMERKA.1 ALGORITHM 94
REFERENCES 97 CURRICULUM YITAE 111 EHRENWORTLKHC ERKLANMG 113
|
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| indexdate | 2024-07-09T20:11:39Z |
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| language | English |
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| physical | VIII, 110 S. graph. Darst. |
| publishDate | 2005 |
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| spelling | Billi, Roberto Mario Verfasser aut Optimal monetary policy with a zero bound on nominal interest rates (three essays) vorgelegt von: Roberto Mario Billi Frankfurt am Main Univ. 2005 VIII, 110 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Frankfurt am Main, Univ., Diss., 2005. - Enth.: Optimal monetary policy under commitment with a zero bound on nominal interest rates. - Optimal monetary policy under discretion with a zero bound on nominal interest rates - u.a. Ökonometrisches Modell (DE-588)4043212-9 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Geldpolitik (DE-588)4019902-2 s Ökonometrisches Modell (DE-588)4043212-9 s DE-188 GBV Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=013368540&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Billi, Roberto Mario Optimal monetary policy with a zero bound on nominal interest rates (three essays) Ökonometrisches Modell (DE-588)4043212-9 gnd Geldpolitik (DE-588)4019902-2 gnd |
| subject_GND | (DE-588)4043212-9 (DE-588)4019902-2 (DE-588)4113937-9 |
| title | Optimal monetary policy with a zero bound on nominal interest rates (three essays) |
| title_auth | Optimal monetary policy with a zero bound on nominal interest rates (three essays) |
| title_exact_search | Optimal monetary policy with a zero bound on nominal interest rates (three essays) |
| title_full | Optimal monetary policy with a zero bound on nominal interest rates (three essays) vorgelegt von: Roberto Mario Billi |
| title_fullStr | Optimal monetary policy with a zero bound on nominal interest rates (three essays) vorgelegt von: Roberto Mario Billi |
| title_full_unstemmed | Optimal monetary policy with a zero bound on nominal interest rates (three essays) vorgelegt von: Roberto Mario Billi |
| title_short | Optimal monetary policy with a zero bound on nominal interest rates |
| title_sort | optimal monetary policy with a zero bound on nominal interest rates three essays |
| title_sub | (three essays) |
| topic | Ökonometrisches Modell (DE-588)4043212-9 gnd Geldpolitik (DE-588)4019902-2 gnd |
| topic_facet | Ökonometrisches Modell Geldpolitik Hochschulschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=013368540&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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