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labor marketlabor forcelabour marketnatural rateparticipation ratework hoursmarket underutilizationunemployment gaprate unemploymentbusiness cycledesired worklong runphillips curveforce participationphillips kurvemissing jobswillingness workgender unemploymentdownward trendpotential labornatural rate of unemploymentreal timegreat recessionpercentage pointsaggregate hourshours gapnatürliche arbeitslosenquotelabour mobilitybusiness start upbeveridge curveaggregate laborextensive intensiveintensive marginsusing datadecline desiredstartup ratesupply growthdual labormarket participationestimate naturalmarket flowsbeveridge kurvelabour market theorymissing workers
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Years of publications: 2002 - 2024

9 records from EconBiz based on author Name Information logo


1. Has U.S. monetary policy tracked the efficient interest rate?

Cúrdia, Vasco; Ferrero, Andrea; Ng, Ging Cee; Tambalotti, Andrea;
2014
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: The PDF logo

2. Evaluating interest rate rules in an estimated DSGE model

abstract

The empirical DSGE (dynamic stochastic general equilibrium) literature pays surprisingly little attention to the behavior of the monetary authority. Alternative policy rule specifications abound, but their relative merit is rarely discussed. We contribute to filling this gap by comparing the fit of a large set of interest rate rules (fifty-five in total), which we estimate within a simple New Keynesian model. We find that specifications in which monetary policy responds to inflation and to deviations of output from its efficient level--the one that would prevail in the absence of distortions--have the worst fit within the set we consider. Policies that respond to measures of the output gap based on statistical filters perform better, but the best-fitting rules are those that also track the evolution of the model-consistent efficient real interest rate. -- output gap ; HP filter ; efficient real interest rate ; Bayesian model comparison

Cúrdia, Vasco; Ferrero, Andrea; Cee Ng, Ging; Tambalotti, Andrea;
2011
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: The PDF logo Link Link

3. Has US monetary policy tracked the efficient interest rate?

Cúrdia, Vasco; Ferrero, Andrea; Ng, Ging Cee; Tambalotti, Andrea;
2015
Type: Aufsatz in Zeitschrift; Article in journal;

4. Has U.S. monetary policy tracked the efficient interest rate?

Cúrdia, Vasco; Ferrero, Andrea; Tambalotti, Andrea; Ng, Ging Cee;
2014
Availability: The PDF logo

5. Has U.S. Monetary Policy Tracked the Efficient Interest Rate?

abstract

Interest rate decisions by central banks are universally discussed in terms of Taylor rules, which describe policy rates as responding to inflation and some measure of the output gap. We show that an alternative specification of the monetary policy reaction function, in which the interest rate tracks the evolution of a Wicksellian efficient rate of return as the primary indicator of real activity, fits the U.S. data better than otherwise identical Taylor rules. This surprising result holds for a wide variety of specifications of the other ingredients of the policy rule and of approaches to the measurement of the output gap. Moreover, it is robust across two different models of private agents' behavior

Cúrdia, Vasco; Ferrero, Andrea; Ng, Ging Cee; Tambalotti, Andrea;
2014
Availability: Link Link
Citations: 4 (based on OpenCitations)

6. Evaluating interest rate rules in an estimated DSGE model

Cúrdia, Vasco; Ferrero, Andrea; Cee Ng, Ging; Tambalotti, Andrea;
2011
Type: Working Paper;
Availability: The PDF logo

7. Evaluating interest rate rules in an estimated DSGE model

Cúrdia, Vasco; Ferrero, Andrea; Ng, Ging Cee; Tambalotti, Andrea;
2011
Availability: Link The PDF logo

8. Evaluating Interest Rate Rules in an Estimated DSGE Model

abstract

The empirical DSGE (dynamic stochastic general equilibrium) literature pays surprisingly little attention to the behavior of the monetary authority. Alternative policy rule specifications abound, but their relative merit is rarely discussed. We contribute to filling this gap by comparing the fit of a large set of interest rate rules (fifty-five in total), which we estimate within a simple New Keynesian model. We find that specifications in which monetary policy responds to inflation and to deviations of output from its efficient level - the one that would prevail in the absence of distortions - have the worst fit within the set we consider. Policies that respond to measures of the output gap based on statistical filters perform better, but the best-fitting rules are those that also track the evolution of the model-consistent efficient real interest rate

Cúrdia, Vasco; Ferrero, Andrea; Ng, Ging Cee; Tambalotti, Andrea;
2011
Availability: Link Link
Citations: 10 (based on OpenCitations)

9. Has U.S. monetary policy tracked the efficient interest rate?

Cúrdia, Vasco; Ferrero, Andrea; Ng, Ging Cee; Tambalotti, Andrea;
2015
Availability: Link
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The information on the author is retrieved from: Entity Facts (by DNB = German National Library data service), DBPedia and Wikidata

Ayşegül Şahin


Dr.

Alternative spellings:
Aysegul Sahin

Profession

  • Economist
  • Affiliations

  • Anadolu Üniversitesi
  • Forschungsinstitut zur Zukunft der Arbeit
  • University of Texas at Austin. Department of Economics
  • Federal Reserve Bank of New York
  • National Bureau of Economic Research
  • External links

  • Gemeinsame Normdatei (GND) im Katalog der Deutschen Nationalbibliothek
  • Open Researcher and Contributor ID (ORCID)
  • NACO Authority File
  • Virtual International Authority File (VIAF)
  • Wikidata
  • International Standard Name Identifier (ISNI)

  • Google Scholar logo Google Scholar
    REPEC logo RePEc

    Publishing years

    3
      2024
    11
      2023
    15
      2022
    8
      2021
    8
      2020
    15
      2019
    2
      2018
    9
      2017
    11
      2016
    3
      2015
    1
      2014
    3
      2013
    1
      2011
    4
      2010
    4
      2009
    1
      2008

    Series

    1. NBER working paper series (13)
    2. NBER Working Paper (12)
    3. Working paper / National Bureau of Economic Research, Inc. (11)
    4. Staff reports / Federal Reserve Bank of New York (7)
    5. Discussion paper series / IZA (4)
    6. Working papers / Federal Reserve Bank of Chicago (4)
    7. FRB of New York Staff Report (3)
    8. Working papers / U.S. Census Bureau, Center for Economic Studies (3)
    9. Working papers series / Federal Reserve Bank of San Francisco (2)
    10. Discussion papers / CEPR (2)
    11. FRB of NY Staff Report (2)
    12. Discussion paper / Centre for Economic Policy Research (2)
    13. FRB of Chicago Working Paper (2)
    14. FEDS Working Paper (1)
    15. Federal Reserve Bank of Cleveland working paper series (1)
    16. IZA policy papers (1)
    17. Policy insight (1)
    18. CESifo Working Paper Series (1)
    19. IZA Discussion Paper (1)
    20. Massachusetts Institute of Technology Department of Economics working paper series : working paper (1)
    21. CESifo working papers (1)
    22. Finance and economics discussion series (1)
    23. CFM discussion paper series (1)
    24. Discussion paper / Tinbergen Institute (1)
    25. FRB of Cleveland Working Paper (1)