Sveriges Riksbank, Noah Williams
www.princeton.edu/∼noahw We study the design of optimal monetary policy under uncertainty in a dynamic stochastic general equilibrium models. We use a Markov jump-linear-quadratic (MJLQ) approach...
Bayesian Approaches to Cointegration (2009)
Gary Koop, Rodney Strachan, Herman Van Dijk, Mattias Villani, Sveriges Riksbank
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What have economists learned about monetary policy over the past 50 years? (2008)
What have economists learned about monetary policy over the past 50 years? In economic research, 50 years is a long time. I will actually start in 1967, with Milton Friedman’s presidential address...
BIS806a.doc Beyond Rational Expectations: Practical Policy Considerations – Comment on Sims * (2008)
As usual, Chris Sims (2008a) has given us an interesting and thoughtful paper. Since the title of this session is “Expectations formation: beyond rational expectations, ” I will use most of the...
Sveriges Riksbank, Noah Williams
www.princeton.edu/∼noahw We study the design of optimal monetary policy under uncertainty using a Markov jumplinear-quadratic (MJLQ) approach. We approximating the uncertainty that policymakers...
I report some personal views and reflections on transparency experiences and transparency challenges following my first year and a half as Deputy Governor at Sveriges Riksbank regarding (1) flexible...
Supervisory Guidance For Managing Settlement Risk In Foreign Exchange Transactions (2007)
Consultative Paper Issued, Mr Roger, Cole Federal, Reserve Board, Philip Lefèvre, ...
this paper for consultation. Comments should be submitted no later than 30 November 1999. The Committee intends to release a final version of the paper once all comments have been considered....
Andrea Ferrero, Mark Gertler, Federal Reserve, Bank New York, Sveriges Riksbank
We explore the implications of current-account adjustment for monetary policy within a simple two-country DSGE model. Our framework nests Obstfeld and Rogoff’s (2005) static model of exchange-rate...
Sveriges Riksbank, Noah Williams
www.princeton.edu/∼noahw/ We study the problem of a policymaker who seeks to set policy optimally in an economy where the true economic structure is unobserved, and he optimally learns from...
Malin Adolfson, Sveriges Riksbank, Stefan Laséen, Sveriges Riksbank, Jesper Lindé, Sveriges Riksbank, ...
This technical appendix of Adolfson, Laséen, Lindé, and Svensson [1] contains the detailed specification of the matrices A, B, C, andH in the model, as well as the detailed specification of the...
Malin Adolfson, Stefan Laséen, Jesper Lindé, Sveriges Riksbank
We show how to construct optimal policy projections in Ramses, the Riksbank’s openeconomy medium-sized DSGE model for forecasting and policy analysis. Bayesian estimation of the parameters of the...
Tor Jacobson, Jesper Lindé, Kasper Roszbach, Sveriges Riksbank
Under Basel II, retail and SME credit (R&SME) receive special treatment because of a supposedly smaller exposure to systemic risk. Most research on this issue has been based on parameterized...
A Dynamic Microeconometric Simulation Model for Incorporated Businesses (2004)
Hovick Shahnazarian, Hovick Shahnazarian, Sveriges Riksbank
ii In this book, we describe the dynamic micro econometric simulation model for incorporated businesses. The purpose is to provide a model that both analyzes the behavior effects induced by changes...