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Showing 1 to 13 of 13 for “"optimal monetary policy"”.
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Optimal Monetary Policy and Oil Price Shocks
… I investigate the role of systematic U.S. monetary policy in the presence of oil price shocks. The second chapter is devoted to studying different approaches to modeling energy demand. </p><p>In an influential paper, Bernanke, Gertler, and Watson (1997) and (2004) argue that systematic …
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Essay on Tax Enforcement, Optimal Monetary Policy and Labor Supply
The third essay investigates the role played by tax enforcement policies in explaining labor supply behavior. Tax distortions can be offset by informal activities because households can substitute from market work into informal or non-taxed work. The formal sector TFP plays an important role in …
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Essays on optimal monetary policy under rule-of-thumb behaviour by price setters
… to rule-of-thumb behaviour by price setters on optimal monetary policy. We start with a canonical log-linearised New Keynesian model, which we extend by allowing a fraction of price setters to follow a rule-of-thumb when setting a new price. We consider different specifications for the …
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ESSAYS ON MONETARY POLICY
… 1 analyses the welfare implications of different monetary policy strategies in the empirically validated business cycle model of Smets and Wouters under commitment and discretion. Once the preferences do not coincide with each other, discretionary policies that target the price-level or the change …
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Essays on international macroeconomics
… chapter examines whether households, firms and policymakers in these economies can distinguish between temporary and permanent commodity price shocks. I find that they are largely unable to do so. In fact, my model suggests that the expected future path of commodity prices following a temporary …
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Essays in monetary and fiscal policy
… focuses on the consequences for the design of monetary and �scal rules, of the bifurcation on the demand side of the economy generated by the presence of ROTC, in the absence of Ricardian equivalence. When �scal policy follows a balanced budget rule, the share of ROTC determines whether an …
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Essays in Monetary Policy and Growth
… thesis is composed of three essays studying both monetary policy as well as economic growth. The first two chapters study optimal monetary (and fiscal) policy. The third chapter studies the relationship between transformative artificial intelligence, economic growth, and asset pricing. The first …
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Essays on International Macroeconomics and Finance
… internationally and how central banks can use monetary and exchange rate policies to insulate themselves from external shocks. In Chapter 1, Monetary and Exchange Rate Policies in a Global Economy, I develop a theory with both monetary policy and foreign exchange intervention (FXI) and study …
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Essays on savings, investment, and monetary policy
… of three chapters on savings, investment, and monetary policy. The first chapter studies optimal monetary policy in an environment where negative nominal interest rates are possible, as demonstrated by recent central bank actions worldwide. I identify the central tradeoff: negative rates help …
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Essays on Money and Credit: A New Monetarist Approach
… of payment in the sense that we observe both monetary exchange and credit transactions under a wide array of technologies and monetary policy rules. However, a common result in a large class of models of money and credit is that the optimal monetary policy -- usually the Friedman rule -- …
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Essays on Monetary Theory
… of two essays about macroeconomic theory of monetary policy. The first essay derives a general algorithm for finding optimal commitment policy when the policymaker's decision stabilizes the economy as well as informing the private sector about fundamental shocks. The paper describes three …
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Essays on the optimum quantity of money
… third essay introduces capital and derives the optimal rate of monetary policy in the presence of financial intermediaries. In the first essay a pure exchange model in which infinitely lived agents face stochastically varying endowments in each period is considered. In this model individuals can …
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Essays in Modern Macroeconomics
… different topic within the broad area of modern monetary and international macroeconomics. The first paper, Product Quality, Measured Inflation and Monetary Policy, written in collaboration with Alex Rodnyansky and Alejandro van der Ghote, fills a gap in the New Keynesian literature, which has …