A tailor-made survey documents consumer perceptions of the U.S. economy’s response to a large shock: advent COVID-19 pandemic. The ran at daily frequency between March 2020 and July 2021. Consumer regarding output inflation react rapidly. Uncertainty is pervasive. business-cycle model calibrated views provides an interpretation. rise in household uncertainty amplifies pandemic recession by fact...

Monetary policy affects both real variables, such as employment, unemployment and output, and nominal variables, such as nominal interest and inflation rates. For close to a decade, the principal focus of monetary policy has been on inflation. During a recession, or when one appears imminent, the state of real variables such as GDP growth has been a paramount consideration, but at other times, ...

The purpose of this paper is to examine the impact of internal and external factors on the ratio of outstanding claims in those banks which are accepted in Tehran Stock Exchange. For this purpose, we used the data obtained from 8 banks and credit institution active in the Tehran Stock Exchange and using data regression panel.  The present survey was examined over the period 2011 till 2015. The ...

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This paper studies non-cooperative monetary policy in a two country general equilibrium model where international economic integration is endogenised through firm-level heterogeneity and monopolistic competition. Economic integration between countries is a source of policy competition, generating higher long-run inflation, and increased gains from monetary cooperation. JEL codes: E31, E52, F41 ...

Simple rules for guiding monetary policy actions have been shown to achieve policy objectives effectively. In many of these simple rules, policy prescriptions depend on the economy’s level of potential output. However, potential output is unobservable and is estimated with uncertainty. We examine the effects that this uncertainty has on the stabilisation properties of three classes of simple ef...

We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on options on the euro area harmonized index of consumer prices provides us with the full distribution of inflation expectations. The daily data set allows us ...