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	Provedor de dados AgEcon (2) Autor Fendel, Ralf (1) Hudgins, David (1) Shuai, Jie (1) Palavra-chave Financial Economics (2) Monetary policy rules (2) Affine term structure models (1) E43 (1) E52 (1) E58 (1) E61 (1) E65 (1) G12 (1) Kalman filter (1) Productivity gains (1) Mais... Tipo do documento Journal Article (2) Ano 2008 (1) 2006 (1) País United States (2) Idioma Inglês (2)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 2 Primeira ... 1 ... Última Optimal Monetary Policy Rules for Averting Productivity Induced Jobless Recoveries AgEcon Hudgins, David; Shuai, Jie. Although high productivity growth is a primary economic goal across nations, it can lead to short run adjustment problems when it temporarily achieves high levels. This may induce a jobless recovery when labor productivity is high while an economy is experiencing sluggish growth or a recession. This paper creates a framework for empirically modeling these effects. This model is used in the context of an optimal control framework in order to derive policy rules for guiding monetary policy during such episodes. Tipo: Journal Article Palavras-chave: Monetary policy rules; Productivity gains; Financial Economics; E52; E61; E65. Ano: 2006 URL: http://purl.umn.edu/50147 A Joint Characterization of German Monetary Policy and the Dynamics of the German Term Structure of Interest Rates AgEcon Fendel, Ralf. The paper develops an empirical no-arbitrage Gaussian affine term structure model to explain the dynamics of the German term structure of interest rates. In contrast to most affine term structure models two risk factors are linked to observable macroeconomics factors: output and inflation. The results indicate that the dynamics of the German term structure of interest rates can be sufficiently explained by expected variations in those macroeconomic factors plus an additional unobservable factor. Furthermore, we are able to extract a monetary policy reaction function within this no-arbitrage model that closely resembles empirical reaction functions that are based on the dynamics of the short rate only. Tipo: Journal Article Palavras-chave: Affine term structure models; Monetary policy rules; Kalman filter; Financial Economics; E43; E58; G12. Ano: 2008 URL: http://purl.umn.edu/50005 Registros recuperados: 2 Primeira ... 1 ... Última

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