Soft landing in a Markov-switching economy

被引：1

作者：

Alexandre, Fernando ^{[2
]}

Bacao, Pedro ^{[1
]}

Gabriel, Vasco ^{[3
]}

机构：

[1] Univ Coimbra, Fac Econ, P-3004512 Coimbra, Portugal

[2] Univ Minho, P-4719 Braga, Portugal

[3] Univ Surrey, Guildford GU2 5XH, Surrey, England

来源：

ECONOMICS LETTERS | 2010年 / 107卷 / 02期

关键词：

Asset prices; Monetary policy; Markov-switching;

D O I：

10.1016/j.econlet.2010.01.015

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We analyse the monetary policy implications of boom bust cycles in asset prices using a Markov-switching rational expectations model. In our simulations, when a bubble bursts, the Taylor rule fails to achieve a soft landing, contrary to the optimal policy. (C) 2010 Elsevier B.V. All rights reserved.

引用

下载

页码：169 / 172

页数：4

共 50 条

[41] A Markov-switching approach to the study of citations in academic journals
Delbianco, Fernando
Fioriti, Andres
Hernandez-Chanto, Allan
Tohme, Fernando
JOURNAL OF INFORMETRICS, 2020, 14 (04)
[42] A Markov-switching spatio-temporal ARCH model
Khoo, Tzung Hsuen
Pathmanathan, Dharini
Otto, Philipp
Dabo-Niang, Sophie
STAT, 2024, 13 (03):
[43] Model reference adaptive expectations in Markov-switching economies
Carravetta, Francesco
Sorge, Marco M.
ECONOMIC MODELLING, 2013, 32 : 551 - 559
[44] The Argentinean currency crisis: A Markov-switching model estimation
Alvarez-Plata, Patricia
Schrooten, Mechthild
DEVELOPING ECONOMIES, 2006, 44 (01): : 79 - 91
[45] Exact Bayesian Prediction in a Class of Markov-switching Models
Bardel, Noemie
Desbouvries, Francois
METHODOLOGY AND COMPUTING IN APPLIED PROBABILITY, 2012, 14 (01) : 125 - 134
[46] Optimal policy in Markov-switching rational expectations models
Blake, Andrew P.
Zampolli, Fabrizio
JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 2011, 35 (10): : 1626 - 1651
[47] Methods for measuring expectations and uncertainty in Markov-switching models
Bianchi, Francesco
JOURNAL OF ECONOMETRICS, 2016, 190 (01) : 79 - 99
[48] Fuel taxes and consumer behaviour: a Markov-switching approach
Porcher, Simon
Porcher, Thomas
INTERNATIONAL JOURNAL OF GLOBAL ENERGY ISSUES, 2018, 41 (1-4) : 14 - 24
[49] Infinite-State Markov-Switching for Dynamic Volatility
Dufays, Arnaud
JOURNAL OF FINANCIAL ECONOMETRICS, 2016, 14 (02) : 418 - 460
[50] Misspecified structural change, threshold, and Markov-switching models
Carrasco, M
JOURNAL OF ECONOMETRICS, 2002, 109 (02) : 239 - 273

← 1 2 3 4 5 →