Macroeconomic dynamics near the ZLB: a tale of two countries

DOI10.1093/RESTUD/RDX027MaRDI QIDQ4610871zbMATH OpenOpenAlexFDO

Authors S. Borağan Aruoba, Pablo Cuba-Borda, Frank Schorfheide

Publication date 23 January 2019

Published in Review of Economic Studies (Search for Journal in Brave)

Full work available at URL https://economics.sas.upenn.edu/sites/default/files/filevault/14-035.pdf

zbMATH Keywords

deflationDSGE modelsJapanmultiple equilibrianonlinear filteringnonlinear solution methodssunspotsU.S.ZLB

Mathematics Subject Classification ID

Dynamic stochastic general equilibrium theory (91B51) Macroeconomic theory (monetary models, models of taxation) (91B64) Interest rates, asset pricing, etc. (stochastic models) (91G30)

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(23)

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• Liquidity traps in a world economy
• Origins of monetary policy shifts: a new approach to regime switching in DSGE models
• Multiplicity in New Keynesian models
• SVARs with occasionally-binding constraints
• A reconsideration of money growth rules
• The failure of stabilization policy: balanced-budget fiscal rules in the presence of incompressible public expenditures
• Global dynamics in a search and matching model of the labor market
• Log-linear approximation versus an exact solution at the ZLB in the New Keynesian model
• A shadow rate New Keynesian model
• When the U.S. catches a cold, Canada sneezes: a lower-bound tale told by deep learning
• Monetary policy and determinacy: an inquiry into open economy New Keynesian macrodynamics
• EXPECTATIONS, STAGNATION, AND FISCAL POLICY: A NONLINEAR ANALYSIS
• The extended perturbation method: With applications to the New Keynesian model and the zero lower bound
• Coherence without rationality at the zero lower bound
• Estimation of DSGE models with the effective lower bound
• Deflationary traps, agents' beliefs and fiscal-monetary policies
• Dynamic perturbation
• Estimating macroeconomic models of financial crises: an endogenous regime-switching approach
• The term structure of macroeconomic risks at the effective lower bound
• Leaning against persistent financial cycles with occasional crises
• Expectation traps and Neo-Fisherian policy
• Restoring existence and uniqueness at the effective lower bound with simple fiscal policy

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