The term premium in standard macroeconomic DSGE models is far too small and stable
relative to the data—an example of the “bond premium puzzle.” However, in endowment …

While the degree of policy inertia in central banks' reaction functions is a central ingredient
in theoretical and empirical monetary economics, the source of the observed policy inertia in …

The basic inability of standard theoretical models to generate a sufficiently large and
variable nominal bond risk premium has been termed the “bond premium puzzle.” We show …

We examine the macroeconomic effects of forward guidance shocks at the zero lower
bound. Empirically, we identify forward guidance shocks using unexpected changes in …

We examine whether the systematic response of monetary policy to financial imbalances
matters for financial stability. We measure how responsive the Federal Reserve's policy is to …

Shocks to capital utilization are introduced in a structural macroeconomic model with
financial frictions. Estimates for the Euro Area and the United States show that these shocks …

This article checks whether money is an omitted variable in the production process by
proposing a microfounded New Keynesian Dynamic Stochastic General Equilibrium model …

The proposed article is devoted to the important issue of monetary regulation of high-tech
industry system under the effect of unstable macroeconomic situation. The proposed …

This work deals with the important problem of risk management of high-tech industries. The
primary goal of this work is to study the influence of uncertainties on the economic subject …

This paper seeks to characterize the response of Ghana's business cycle to cocoa and gold
commodity price shocks using a time-varying parameter structural vector autoregressive …