Search Results

Showing results 1 to 1 of approximately 1.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:Output puzzle 

Working Paper
A model of monetary policy shocks for financial crises and normal conditions

In late 2008, deteriorating economic conditions led the Federal Reserve to lower the federal funds rate to near zero and inject massive liquidity into the financial system through novel facilities. The combination of conventional and unconventional measures complicates the challenging task of characterizing the effects of monetary policy. We develop a novel method of identifying these effects that maintains the classic assumptions that a central bank reacts to output and the price level contemporaneously and may only affect these variables with a lag. A New-Keynesian DSGE model augmented with ...
Research Working Paper , Paper RWP 14-11

FILTER BY Series

FILTER BY Content Type

FILTER BY Jel Classification

E3 1 items

E4 1 items

E5 1 items

PREVIOUS / NEXT