Equilibrium implications of interest rate smoothing

DOI10.1080/14697688.2019.1645346MaRDI QIDQ4991031zbMATH OpenOpenAlexFDO

Authors Diogo Duarte, Rodolfo Prieto

Publication date 2 June 2021

Published in Quantitative Finance (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1080/14697688.2019.1645346

zbMATH Keywords

quantitative easinglong-term growthdynamic monetary equilibriumMcCallum rulenominal spread

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Interest rates, asset pricing, etc. (stochastic models) (91G30)

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• Optimal Interest-Rate Smoothing
• Financial shocks and the maturity of the monetary policy rate
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• ``Interest rate trap, or why does the central bank keep the policy rate too low for too long?
• Monetary policy and interest rate spreads

Cites work

• A YIELD‐FACTOR MODEL OF INTEREST RATES
• An equilibrium characterization of the term structure
• Asset Prices in an Exchange Economy with Habit Formation
• Inflation and Asset Prices in an Exchange Economy
• Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*
• Money and Interest in a Cash-in-Advance Economy
• Money and asset prices in a continuous-time Lucas and Stokey cash-in-advance economy
• Optimal Interest-Rate Smoothing
• Production technologies in stochastic continuous time models
• Risk premia in general equilibrium
• Shock elasticities and impulse responses
• Solving, estimating, and testing a nonlinear stochastic equilibrium model, with an example of the asset returns and inflation relationship

Cited in

(6)

• Optimal Interest-Rate Smoothing
• Financial shocks and the maturity of the monetary policy rate
• Macroeconomic Effects of the Interest Rate Level: Growth and Fluctuations in an Economy with Bank Capital Adequacy Standards
• Lumpy durable consumption demand and the limited ammunition of monetary policy
• Time-varying equilibrium real rates and monetary policy analysis
• Note on the Smith-Wilson interest rate curve

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