This paper presents a re-formulated version of a canonical sticky-price model that has been extended to account for variations over time in the central bank's inflation target. We derive a closed-form solution for the ...
An important trend in macroeconomic research in recent years involves the increased use of optimization-based models with nominal rigidities (such as sticky prices) to analyse how monetary policy affects the economy and ...
This letter details the collective views of a number of independent researchers on the technical assessment and evaluation of environmental models and software. The purpose is to stimulate debate and initiate action that ...
This paper reconsiders the literature on non-cooperative foundations of cooperative solutions. The goal of non-cooperative foundations is to provide credible non-cooperative models of negotiation and coalition formation ...
The goal of non-cooperative foundations is to provide credible non-cooperative models of negotiation and coalition formation whose equilibrium outcomes agree with a given cooperative solution. Here we argue that this goal ...
We examine the impact and possible pillovers effects of unanticipated monetary policy on international bond returns. First, we decompose international bond returns into news regarding future returns, real interest rates ...
Assessing the trustworthiness of reviews is a key issue for
the maintainers of opinion sites such as TripAdvisor. In this
paper we propose a distortion criterion for assessing the impact
of methods for uncovering ...
Walsh, Brendan M.(University College Dublin. School of Economics, 1993-01-06)
As one of a set of policies designed to reduce inflation and interest rates to the levels prevailing in Germany the Irish pound has been stabilised in the Exchange Rate Mechanism (ERM) of the European Monetary System since ...
The article explores Ireland's participation in the exchange rate mechanism (ERM) of the European Monetary System since mid-1986. It has been found that membership of the ERM per se did not have the expected moderating ...