نتایج جستجو برای: e58
تعداد نتایج: 398 فیلتر نتایج به سال:
We add inside and outside money to the standard GEI model. If there enough gains to trade via money, then monetary equilibrium (ME) exists and money has positive value, even when GEI fails to exist. The nonexistence of GEI shows up as a liquidity trap in terms of the ME. In sharp contrast to GEI, the ME are generically determinate not only in terms of real, but also financial, variables. © 2003...
Speed limit policy, a monetary policy strategy that focuses on stabilizing inflation and the change in the output gap, consistently delivers better welfare outcomes than flexible inflation targeting or flexible price level targeting in empirical New Keynesian models when policymakers lack the ability to commit to future policies. Even if the policymaker can commit under an inflation targeting s...
This paper presents a general approximation method for characterizing timevarying equilibrium portfolios in a two-country dynamic general equilibrium model. The method can be easily adapted to most dynamic general equilibrium models, it applies to environments in which markets are complete or incomplete, and it can be used for models of any dimension. Moreover, the approximation provides simple...
This paper evaluates the performance of optimal simple policy rules in the presence of news shocks. It is shown that the inclusion of forward-looking elements enhances the performance of simple optimized interest rate rules when agents learn about future disturbances in advance. We provide a rationale for this result by demonstrating that, if shocks are news shocks, the optimal unrestricted con...
We determine the second best rule for the inflation tax in monetary general equilibrium models where money is dominated in rate of return. The results in the literature are ambiguous and inconsistent across different monetary environments. We derive and compare the optimal inflation tax solutions across the different environments and find that Friedman's policy recommendation of a zero nominal ...
Based on a more realistic assumption, we modify the Taylor regression. The modified Taylor regression gives an explanation of why the (standard) Taylor regression is spurious (in the econometric sense, i.e. no stable relationship among the variables of interest) and, at the same time, a solution as to how central bank monetary policy can still be described by the Taylor rule. An empirical examp...
The following articles are being highlighted as part of Circulation: Arrhythmia and Electrophysiology’s Topic Review series. This series will summarize the most important manuscripts, as selected by the editors, published in Circulation: Arrhythmia and Electrophysiology, Circulation, and the other Circulation subspecialty journals. The studies included in this article represent the most read ma...
Abstract: How asset prices should be taken into account in monetary policy is a controversial question mainstream discussion. These positions can differentiated two broad perspectives: the proactive and reactive views. The view advocates pricking price bubble, while argues against targeting prices. In this article relation between Austrian business cycle theory examined. Following this, critiqu...
This paper evaluates the literature on international unconventional monetary policies (UMPs). Introducing market segmentation, limits-to-arbitrage, and time-consistent policy in standard models permits a theoretical role for UMP. Empirical studies provide compelling evidence that UMPs influenced asset prices tail risk desired manner. Calibrated modeling vector autoregressive (VAR) exercises imp...
© 2016 Canadian Urological Association E46 Table of contents Multidisciplinary consensus committee E47 Introduction E48 Methodology E48 Recommendations I. Hematuria: Workup, rapid access clinic, timelines, investigations E48 II. Optimizing outcomes in high-risk non-muscle-invasive bladder cancer (NMIBC) E51 III. Salvage therapy in NMIBC E53 IV. Prostatic urethral disease E56 V. Immediate postop...
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