Monetary And Fiscal Policy Through A Dsge Lens

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Monetary and Fiscal Policy through a DSGE Lens

Author : Harold L. Cole
Publisher : Oxford University Press
ISBN 13 : 0190076062
Total Pages : 277 pages
Book Rating : 4.1/5 (9 download)

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Book Synopsis Monetary and Fiscal Policy through a DSGE Lens by : Harold L. Cole

Download or read book Monetary and Fiscal Policy through a DSGE Lens written by Harold L. Cole and published by Oxford University Press. This book was released on 2020-02-24 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Monetary and Fiscal Policy Through a DSGE Lens, Harold L. Cole develops and extends versions of a classic quantitative model of economic growth to take on a wide range of topics in monetary and fiscal policy. Bridging the gap between current undergraduate and graduate texts in the field, this comprehensive book covers the basic elements of advanced macroeconomics and equips readers to understand the debate on key policy questions. By using the simple DSGE, or dynamic stochastic general equilibrium, framework to build a series of quantitative models, the book combines a gradual introduction to advanced analytic methods with computer programming and quantitative policy analysis. In a clear discussion of the sophisticated interaction between theory and data, Cole explains how to gauge how well a model captures key elements in the data and how to reverse engineer a model to data. The book covers costs of inflation, optimal monetary policy, the impact of labor and capital taxes, and optimal fiscal policy. It systematically discusses technical material including the new Keynesian liquidity shock models, standard analytic methods, such as Lagrangian methods, and computational methods using Matlab and Python. With a strong computational emphasis, the volume teaches how to program up and solve systems of non-linear equations and develop models to study the macroeconomy. Knowing how to deeply understand and analyze models and develop computational code to evaluate the implications of those models is essential for students of macroeconomics. This book connects the standard undergraduate material to the elaborate models of advanced graduate courses with systematic and logical coverage of the basics of advanced modern macroeconomics.

Monetary and Fiscal Policy Interactions in an Emerging Open Economy Exposed to Sudden Stops Shock

Author : Aliya Algozhina
Publisher :
ISBN 13 : 9788073442729
Total Pages : 28 pages
Book Rating : 4.4/5 (427 download)

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Book Synopsis Monetary and Fiscal Policy Interactions in an Emerging Open Economy Exposed to Sudden Stops Shock by : Aliya Algozhina

Download or read book Monetary and Fiscal Policy Interactions in an Emerging Open Economy Exposed to Sudden Stops Shock written by Aliya Algozhina and published by . This book was released on 2012 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Monetary and Fiscal Policy Analyses in Estimated DSGE Models

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (936 download)

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Book Synopsis Monetary and Fiscal Policy Analyses in Estimated DSGE Models by :

Download or read book Monetary and Fiscal Policy Analyses in Estimated DSGE Models written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: DSGE models; monetary policy; fiscal policy; Markov switching; inflation targeting; exchange rate policy; oil price shock; stimulus package; Great Recession

DSGE Models in Macroeconomics

Author : Nathan Balke
Publisher : Emerald Group Publishing
ISBN 13 : 1781903069
Total Pages : 480 pages
Book Rating : 4.7/5 (819 download)

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Book Synopsis DSGE Models in Macroeconomics by : Nathan Balke

Download or read book DSGE Models in Macroeconomics written by Nathan Balke and published by Emerald Group Publishing. This book was released on 2012-11-29 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume of Advances in Econometrics contains articles that examine key topics in the modeling and estimation of dynamic stochastic general equilibrium (DSGE) models. Because DSGE models combine micro- and macroeconomic theory with formal econometric modeling and inference, over the past decade they have become an established framework for analy

Policy Regimes, Policy Shifts, and U.S. Business Cycles

Author : Saroj Bhattarai
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Policy Regimes, Policy Shifts, and U.S. Business Cycles by : Saroj Bhattarai

Download or read book Policy Regimes, Policy Shifts, and U.S. Business Cycles written by Saroj Bhattarai and published by . This book was released on 2015 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using an estimated DSGE model that features monetary and fiscal policy interactions and allows for equilibrium indeterminacy, we find that a passive monetary and passive fiscal policy regime prevailed in the pre-Volcker period while an active monetary and passive fiscal policy regime prevailed post-Volcker. Since both monetary and fiscal policies were passive pre-Volcker, there was equilibrium indeterminacy that gave rise to self-fulfilling beliefs and resulted in substantially different transmission mechanisms of policy as compared to conventional models: unanticipated increases in interest rates increased inflation and output while unanticipated increases in lump-sum taxes decreased inflation and output. Unanticipated shifts in monetary and fiscal policies however, played no substantial role in explaining the variation of inflation and output at any horizon in either of the time periods. Pre-Volcker, in sharp contrast to post-Volcker, we find that a time-varying inflation target does not explain low-frequency movements in inflation. Finally, in a counterfactual exercise, we show that had the monetary policy regime of the post-Volcker era been in place pre-Volcker, inflation volatility would have been lower by 36% and the rise of inflation in the 1970s would not have occurred.

Monetary and Fiscal Policy Analyses in Estimated DSGE Models

Author : Andrej Drygalla
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (936 download)

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Book Synopsis Monetary and Fiscal Policy Analyses in Estimated DSGE Models by : Andrej Drygalla

Download or read book Monetary and Fiscal Policy Analyses in Estimated DSGE Models written by Andrej Drygalla and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: DSGE models; monetary policy; fiscal policy; Markov switching; inflation targeting; exchange rate policy; oil price shock; stimulus package; Great Recession.

We are Better Than this

Author : Edward D. Kleinbard
Publisher : Oxford University Press, USA
ISBN 13 : 019933224X
Total Pages : 545 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis We are Better Than this by : Edward D. Kleinbard

Download or read book We are Better Than this written by Edward D. Kleinbard and published by Oxford University Press, USA. This book was released on 2015 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A book which examines how government - which is to say, all of us, acting collectively - can make our country healthier, wealthier and happier, if we put government to useful work in those areas where it most productively complements our private markets"--Provided by publisher.

Assessing the Effects of the Zero-Interest-Rate Policy Through the Lens of a Regime-switching DSGE Model

Author : Han Chen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (891 download)

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Book Synopsis Assessing the Effects of the Zero-Interest-Rate Policy Through the Lens of a Regime-switching DSGE Model by : Han Chen

Download or read book Assessing the Effects of the Zero-Interest-Rate Policy Through the Lens of a Regime-switching DSGE Model written by Han Chen and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Finance and Financial Intermediation

Author : Harold L. Cole
Publisher : Oxford University Press
ISBN 13 : 0190941723
Total Pages : 304 pages
Book Rating : 4.1/5 (99 download)

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Book Synopsis Finance and Financial Intermediation by : Harold L. Cole

Download or read book Finance and Financial Intermediation written by Harold L. Cole and published by Oxford University Press. This book was released on 2019-03-29 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial system is a densely interconnected network of financial intermediaries, facilitators, and markets that serves three major purposes: allocating capital, sharing risks, and facilitating intertemporal trade. Asset prices are an important mechanism in each of these phenomena. Capital allocation, whether through loans or other forms of investment, can vary both across sectors-at the broadest, manufactures, agriculture, and services-and within sectors, for example different firms. The risk that various investors are willing to take reflects their financial position and alternative opportunities. Risk and asset allocation are also influenced by whether money, and especially its expenditure, is more important now or in the future. These decisions are all influenced by governmental policies. When there are mismatches, the results include financial meltdowns, fiscal deficits, sovereign debt, default and debt crises. Harold L. Cole provides a broad overview of the financial system and assets pricing, covering history, institutional detail, and theory. The book begins with an overview of financial markets and their operation and then covers asset pricing for standard assets and derivatives, and analyzes what modern finance says about firm behavior and capital structure. It then examines theories of money, exchange rates, electronic payments methods, and cryptocurrencies. After exploring banks and other forms of financial intermediation, the book examines the role they played in the Great Recession. Having provided an overview of the provate sector, Cole switches to public finance and government borrowing as well as the incentives to monetize the public debt and its consequences. The book closes with an examination of sovereign debt crises and an analysis of their various forms. Finance and financial intermediation are central to modern economies. This book covers all of the material a sophisticated economist needs to know about this area.

Role of Monetary and Fiscal Policies. Development, Functions, Interactions and Effects

Author : Endaylalu Solomon
Publisher :
ISBN 13 : 9783346421265
Total Pages : pages
Book Rating : 4.4/5 (212 download)

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Book Synopsis Role of Monetary and Fiscal Policies. Development, Functions, Interactions and Effects by : Endaylalu Solomon

Download or read book Role of Monetary and Fiscal Policies. Development, Functions, Interactions and Effects written by Endaylalu Solomon and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Economics of Public Spending

Author : David Miles
Publisher : OUP Oxford
ISBN 13 : 9780191593284
Total Pages : 432 pages
Book Rating : 4.5/5 (932 download)

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Book Synopsis The Economics of Public Spending by : David Miles

Download or read book The Economics of Public Spending written by David Miles and published by OUP Oxford. This book was released on 2003-03-20 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Public Spending investigates the extent of government involvement in the economy, details its rational, and traces its historical record. The book unites articles previously published in Fiscal Studies, each one addressing a different area of expenditure and written by an economist specializing in that field. They describe both the data on public expenditure and the theory relevant to understanding the policy issues. A new introduction investigates the overall role of the public sector and discusses the general theory of public expenditure. In providing a detailed analysis of public expenditure, the book makes an important contribution to the economics literature. There are no other texts with this breadth of coverage or depth of analysis. Insights are provided into both the policy issues, cross-country comparisons of expenditure, and alternative approaches to economic analysis. The chapters apply the tools of orthodox public finance, public choice, modern public economics, and game theory to reach a range of policy proposals and conclusions. These demonstrate the range and potential of economic analysis when applied to these important issues.

Advanced Macroeconomics

Author : Filipe R. Campante
Publisher : LSE Press
ISBN 13 : 1909890707
Total Pages : 420 pages
Book Rating : 4.9/5 (98 download)

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Book Synopsis Advanced Macroeconomics by : Filipe R. Campante

Download or read book Advanced Macroeconomics written by Filipe R. Campante and published by LSE Press. This book was released on 2021-10-11 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic policy is one of the most important policy domains, and the tools of macroeconomics are among the most valuable for policy makers. Yet there has been, up to now, a wide gulf between the level at which macroeconomics is taught at the undergraduate level and the level at which it is practiced. At the same time, doctoral-level textbooks are usually not targeted at a policy audience, making advanced macroeconomics less accessible to current and aspiring practitioners. This book, born out of the Masters course the authors taught for many years at the Harvard Kennedy School, fills this gap. It introduces the tools of dynamic optimization in the context of economic growth, and then applies them to a wide range of policy questions – ranging from pensions, consumption, investment and finance, to the most recent developments in fiscal and monetary policy. It does so with the requisite rigor, but also with a light touch, and an unyielding focus on their application to policy-making, as befits the authors’ own practical experience. Advanced Macroeconomics: An Easy Guide is bound to become a great resource for graduate and advanced undergraduate students, and practitioners alike.

Inflation Targeting and Exchange Rate Management In Less Developed Countries

Author : Mr.Marco Airaudo
Publisher : International Monetary Fund
ISBN 13 : 1475523165
Total Pages : 65 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Inflation Targeting and Exchange Rate Management In Less Developed Countries by : Mr.Marco Airaudo

Download or read book Inflation Targeting and Exchange Rate Management In Less Developed Countries written by Mr.Marco Airaudo and published by International Monetary Fund. This book was released on 2016-03-08 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze coordination of monetary and exchange rate policy in a two-sector model of a small open economy featuring imperfect substitution between domestic and foreign financial assets. Our central finding is that management of the exchange rate greatly enhances the efficacy of inflation targeting. In a flexible exchange rate system, inflation targeting incurs a high risk of indeterminacy where macroeconomic fluctuations can be driven by self-fulfilling expectations. Moreover, small inflation shocks may escalate into much larger increases in inflation ex post. Both problems disappear when the central bank leans heavily against the wind in a managed float.

Texas Women

Author : Elizabeth Hayes Turner
Publisher : University of Georgia Press
ISBN 13 : 0820347205
Total Pages : 545 pages
Book Rating : 4.8/5 (23 download)

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Book Synopsis Texas Women by : Elizabeth Hayes Turner

Download or read book Texas Women written by Elizabeth Hayes Turner and published by University of Georgia Press. This book was released on 2015 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a collection of biographies and composite essays of Texas women, contextualized over the course of history to include subjects that reflect the enormous racial, class, and religious diversity of the state. Offering insights into the complex ways that Texas' position on the margins of the United States has shaped a particular kind of gendered experience there, the volume also demonstrates how the larger questions in United States women's history are answered or reconceived in the state. Beginning with Juliana Barr's essay, which asserts that 'women marked the lines of dominion among Spanish and Indian nations in Texas' and explodes the myth of Spanish domination in colonial Texas, the essays examine the ways that women were able to use their borderland status to stretch the boundaries of their own lives. Eric Walther demonstrates that the constant changing of governments in Texas (Spanish, Mexican, Texan, and U.S.) gave slaves the opportunities to resist their oppression because of the differences in the laws of slavery under Spanish or English or American law. Gabriela Gonzalez examines the activism of Jovita Idar on behalf of civil rights for Mexicans and Mexican Americans on both sides of the border. Renee Laegreid argues that female rodeo contestants employed a "unique regional interplay of masculine and feminine behaviors" to shape their identities as cowgirls"--

Optimal Monetary Policy Under Bounded Rationality

Author : Jonathan Benchimol
Publisher : International Monetary Fund
ISBN 13 : 1498324584
Total Pages : 52 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Optimal Monetary Policy Under Bounded Rationality by : Jonathan Benchimol

Download or read book Optimal Monetary Policy Under Bounded Rationality written by Jonathan Benchimol and published by International Monetary Fund. This book was released on 2019-08-02 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The form of bounded rationality characterizing the representative agent is key in the choice of the optimal monetary policy regime. While inflation targeting prevails for myopia that distorts agents' inflation expectations, price level targeting emerges as the optimal policy under myopia regarding the output gap, revenue, or interest rate. To the extent that bygones are not bygones under price level targeting, rational inflation expectations is a minimal condition for optimality in a behavioral world. Instrument rules implementation of this optimal policy is shown to be infeasible, questioning the ability of simple rules à la Taylor (1993) to assist the conduct of monetary policy. Bounded rationality is not necessarily associated with welfare losses.

Modelling Economic Series

Author : Clive William John Granger
Publisher : Oxford University Press
ISBN 13 : 9780198287360
Total Pages : 428 pages
Book Rating : 4.2/5 (873 download)

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Book Synopsis Modelling Economic Series by : Clive William John Granger

Download or read book Modelling Economic Series written by Clive William John Granger and published by Oxford University Press. This book was released on 1990 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a volume of readings for graduate students, especially those taking courses in applied econometrics, who need to learn how to evaluate the validity of present theories and techniques. The aim of the text is to aid readers in the difficult task of actually constructing models. The essays vary in the degree of technical sophistication used, but each paper intends to provide students with a sound knowledge of the practical difficulties of model specification, evaluation and interpretation, as well as advice on tackling these difficulties.

Comparative Performance of U.S. Econometric Models

Author : Lawrence Robert Klein
Publisher : Oxford University Press, USA
ISBN 13 : 0195057724
Total Pages : 338 pages
Book Rating : 4.1/5 (95 download)

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Book Synopsis Comparative Performance of U.S. Econometric Models by : Lawrence Robert Klein

Download or read book Comparative Performance of U.S. Econometric Models written by Lawrence Robert Klein and published by Oxford University Press, USA. This book was released on 1991 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Each year, a number of different economic groups in the USA use their own econometric models to forecast what will happen to the economy in the coming year. This volume consists of chapters by distinguished economists comparing the different models now being used.