Matches in SemOpenAlex for { <https://semopenalex.org/work/W2053451812> ?p ?o ?g. }
Showing items 1 to 98 of
98
with 100 items per page.
- W2053451812 endingPage "205" @default.
- W2053451812 startingPage "186" @default.
- W2053451812 abstract "I extend a simple new Keynesian model with the Markov switching type Taylor rule introduced by Davig and Leeper (2007) by incorporating the constraint of the zero lower bound (ZLB), using the concept and algorithms of the stochastic rational expectations equilibrium proposed by Billi (2013). According to the calibration, when an economy does not face the ZLB constraint, there is no gap in the fluctuation of output and inflation between stochastic expectations and perfect foresight because of the linear policy functions. In contrast, once-negative aggregate demand shocks make the nominal interest rate hit the ZLB under stochastic expectations, unlike perfect foresight, intensifying uncertainty plays an important role in further declines of the output and price level even in response to the same shock, regardless of the monetary policy regime adopted. The calibration also indicates the possibility that the steady states of a model, in the absence of the ZLB, are underestimated in periods of deflation, since the means often used as estimates of the steady states are biased downward from these. The analysis sheds light on an exit strategy from the zero interest rate policy, since a passive policy regime reduces the expected interest rate and induces both the expected output and the inflation to increase under the ZLB." @default.
- W2053451812 created "2016-06-24" @default.
- W2053451812 creator A5076682420 @default.
- W2053451812 date "2016-01-01" @default.
- W2053451812 modified "2023-09-25" @default.
- W2053451812 title "Monetary policy regime shifts under the zero lower bound: An application of a stochastic rational expectations equilibrium to a Markov switching DSGE model" @default.
- W2053451812 cites W1975063543 @default.
- W2053451812 cites W2001781631 @default.
- W2053451812 cites W2005679363 @default.
- W2053451812 cites W2136798818 @default.
- W2053451812 cites W2150367813 @default.
- W2053451812 cites W2166076743 @default.
- W2053451812 cites W2169169992 @default.
- W2053451812 cites W3121650654 @default.
- W2053451812 cites W3122280204 @default.
- W2053451812 cites W3124272832 @default.
- W2053451812 cites W3124914874 @default.
- W2053451812 cites W3125678302 @default.
- W2053451812 cites W3126022804 @default.
- W2053451812 cites W3126099446 @default.
- W2053451812 doi "https://doi.org/10.1016/j.econmod.2014.11.026" @default.
- W2053451812 hasPublicationYear "2016" @default.
- W2053451812 type Work @default.
- W2053451812 sameAs 2053451812 @default.
- W2053451812 citedByCount "5" @default.
- W2053451812 countsByYear W20534518122015 @default.
- W2053451812 countsByYear W20534518122017 @default.
- W2053451812 countsByYear W20534518122018 @default.
- W2053451812 countsByYear W20534518122022 @default.
- W2053451812 countsByYear W20534518122023 @default.
- W2053451812 crossrefType "journal-article" @default.
- W2053451812 hasAuthorship W2053451812A5076682420 @default.
- W2053451812 hasConcept C10688316 @default.
- W2053451812 hasConcept C121332964 @default.
- W2053451812 hasConcept C126285488 @default.
- W2053451812 hasConcept C126322002 @default.
- W2053451812 hasConcept C139719470 @default.
- W2053451812 hasConcept C149782125 @default.
- W2053451812 hasConcept C154815372 @default.
- W2053451812 hasConcept C162324750 @default.
- W2053451812 hasConcept C165556158 @default.
- W2053451812 hasConcept C175025494 @default.
- W2053451812 hasConcept C200941418 @default.
- W2053451812 hasConcept C2778078003 @default.
- W2053451812 hasConcept C2778222704 @default.
- W2053451812 hasConcept C2781300812 @default.
- W2053451812 hasConcept C2992735868 @default.
- W2053451812 hasConcept C33332235 @default.
- W2053451812 hasConcept C489367 @default.
- W2053451812 hasConcept C556758197 @default.
- W2053451812 hasConcept C71924100 @default.
- W2053451812 hasConcept C7386506 @default.
- W2053451812 hasConcept C8112001 @default.
- W2053451812 hasConcept C84888623 @default.
- W2053451812 hasConcept C96016098 @default.
- W2053451812 hasConceptScore W2053451812C10688316 @default.
- W2053451812 hasConceptScore W2053451812C121332964 @default.
- W2053451812 hasConceptScore W2053451812C126285488 @default.
- W2053451812 hasConceptScore W2053451812C126322002 @default.
- W2053451812 hasConceptScore W2053451812C139719470 @default.
- W2053451812 hasConceptScore W2053451812C149782125 @default.
- W2053451812 hasConceptScore W2053451812C154815372 @default.
- W2053451812 hasConceptScore W2053451812C162324750 @default.
- W2053451812 hasConceptScore W2053451812C165556158 @default.
- W2053451812 hasConceptScore W2053451812C175025494 @default.
- W2053451812 hasConceptScore W2053451812C200941418 @default.
- W2053451812 hasConceptScore W2053451812C2778078003 @default.
- W2053451812 hasConceptScore W2053451812C2778222704 @default.
- W2053451812 hasConceptScore W2053451812C2781300812 @default.
- W2053451812 hasConceptScore W2053451812C2992735868 @default.
- W2053451812 hasConceptScore W2053451812C33332235 @default.
- W2053451812 hasConceptScore W2053451812C489367 @default.
- W2053451812 hasConceptScore W2053451812C556758197 @default.
- W2053451812 hasConceptScore W2053451812C71924100 @default.
- W2053451812 hasConceptScore W2053451812C7386506 @default.
- W2053451812 hasConceptScore W2053451812C8112001 @default.
- W2053451812 hasConceptScore W2053451812C84888623 @default.
- W2053451812 hasConceptScore W2053451812C96016098 @default.
- W2053451812 hasLocation W20534518121 @default.
- W2053451812 hasOpenAccess W2053451812 @default.
- W2053451812 hasPrimaryLocation W20534518121 @default.
- W2053451812 hasRelatedWork W2202478534 @default.
- W2053451812 hasRelatedWork W2390821348 @default.
- W2053451812 hasRelatedWork W2764003596 @default.
- W2053451812 hasRelatedWork W2950966561 @default.
- W2053451812 hasRelatedWork W2995287820 @default.
- W2053451812 hasRelatedWork W3125634376 @default.
- W2053451812 hasRelatedWork W3125875906 @default.
- W2053451812 hasRelatedWork W3138614301 @default.
- W2053451812 hasRelatedWork W3172003805 @default.
- W2053451812 hasRelatedWork W4206322444 @default.
- W2053451812 hasVolume "52" @default.
- W2053451812 isParatext "false" @default.
- W2053451812 isRetracted "false" @default.
- W2053451812 magId "2053451812" @default.
- W2053451812 workType "article" @default.