Matches in SemOpenAlex for { <https://semopenalex.org/work/W3128586585> ?p ?o ?g. }
Showing items 1 to 74 of
74
with 100 items per page.
- W3128586585 abstract "Forward guidance during the zero lower bound period is typically modeled as news that alters the expected liftoff date of the policy rate, assuming that agents do not expect a policy rate hike in near future. Using U.S. high-frequency data, I empirically reject this assumption and show that guidance affects the entire term structure of expected rates. Introducing this estimated guidance shock in a standard New Keynesian model substantially magnifies the forward guidance puzzle, i.e. the excessive model-implied response to guidance. I show that allowing agents to update their macroeconomic expectations in the pessimistic direction following a guidance easing explains this larger puzzle per se, unlike the common approach of introducing a discount parameter due to a deviation from a baseline assumption. In addition, I find that the puzzle can also be explained by sticky information general equilibrium models." @default.
- W3128586585 created "2021-02-15" @default.
- W3128586585 creator A5038808339 @default.
- W3128586585 date "2020-01-01" @default.
- W3128586585 modified "2023-09-25" @default.
- W3128586585 title "How to Model Forward Guidance and Address a Larger Puzzle" @default.
- W3128586585 cites W1540757224 @default.
- W3128586585 cites W1543862054 @default.
- W3128586585 cites W1975063543 @default.
- W3128586585 cites W1976140283 @default.
- W3128586585 cites W2052647713 @default.
- W3128586585 cites W2067094520 @default.
- W3128586585 cites W2104490102 @default.
- W3128586585 cites W2110337991 @default.
- W3128586585 cites W2110637920 @default.
- W3128586585 cites W2129846541 @default.
- W3128586585 cites W2135860498 @default.
- W3128586585 cites W2153179404 @default.
- W3128586585 cites W2253894436 @default.
- W3128586585 cites W2345677804 @default.
- W3128586585 cites W2474792385 @default.
- W3128586585 cites W2547186548 @default.
- W3128586585 cites W2566240768 @default.
- W3128586585 cites W2593999556 @default.
- W3128586585 cites W2765784664 @default.
- W3128586585 cites W2769967772 @default.
- W3128586585 cites W2890353604 @default.
- W3128586585 cites W2890771833 @default.
- W3128586585 cites W2892107102 @default.
- W3128586585 cites W2942724790 @default.
- W3128586585 cites W3023660006 @default.
- W3128586585 cites W3023832292 @default.
- W3128586585 cites W3089166164 @default.
- W3128586585 cites W3121811604 @default.
- W3128586585 cites W3122591180 @default.
- W3128586585 cites W3123011181 @default.
- W3128586585 cites W3123405273 @default.
- W3128586585 cites W3123856916 @default.
- W3128586585 cites W3124438330 @default.
- W3128586585 cites W3125450854 @default.
- W3128586585 cites W3125749836 @default.
- W3128586585 cites W4247765758 @default.
- W3128586585 cites W4254152938 @default.
- W3128586585 doi "https://doi.org/10.2139/ssrn.3602211" @default.
- W3128586585 hasPublicationYear "2020" @default.
- W3128586585 type Work @default.
- W3128586585 sameAs 3128586585 @default.
- W3128586585 citedByCount "1" @default.
- W3128586585 countsByYear W31285865852021 @default.
- W3128586585 crossrefType "journal-article" @default.
- W3128586585 hasAuthorship W3128586585A5038808339 @default.
- W3128586585 hasConcept C149782125 @default.
- W3128586585 hasConcept C162324750 @default.
- W3128586585 hasConcept C41008148 @default.
- W3128586585 hasConceptScore W3128586585C149782125 @default.
- W3128586585 hasConceptScore W3128586585C162324750 @default.
- W3128586585 hasConceptScore W3128586585C41008148 @default.
- W3128586585 hasLocation W31285865851 @default.
- W3128586585 hasOpenAccess W3128586585 @default.
- W3128586585 hasPrimaryLocation W31285865851 @default.
- W3128586585 hasRelatedWork W1596801655 @default.
- W3128586585 hasRelatedWork W2130043461 @default.
- W3128586585 hasRelatedWork W2350741829 @default.
- W3128586585 hasRelatedWork W2358668433 @default.
- W3128586585 hasRelatedWork W2376932109 @default.
- W3128586585 hasRelatedWork W2382290278 @default.
- W3128586585 hasRelatedWork W2390279801 @default.
- W3128586585 hasRelatedWork W2748952813 @default.
- W3128586585 hasRelatedWork W2899084033 @default.
- W3128586585 hasRelatedWork W2530322880 @default.
- W3128586585 isParatext "false" @default.
- W3128586585 isRetracted "false" @default.
- W3128586585 magId "3128586585" @default.
- W3128586585 workType "article" @default.