New Keynesian models, durable goods, and collateral constraints

By Tommaso Monacelli. 2009

329 citations recorded by the source corpus.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/c3234504cfaca31dc49f97e9f52505f4f0795e44

Citations in the corpus

• Macroeconomic Propagation Under Different Regulatory Regimes: Evidence From an Estimated DSGE Model For the Euro Area (2010, unknown): “…corporations, μE , and 0.15 for households, μHH— the standard deviations of the idiosyncratic shocks are adjusted to 32See, e.g., Iacoviello (2005), Monacelli (2009), and Iacoviello and Neri (2010) for a thorough discussion of the calibration of the discount factors in a similar setup.”
• Using monetary policy to stabilize economic activity (2009, unknown): “In this case, the standard linearized Euler condition given in (1) is modified to take the form x t = E t x t+1 − µ 1 ˜ σ ¶ (i t − E t π t+1 − r n t ) − γ 1 i t − γ 2 ψ t , ( 8 ) where ψ is the Lagrangian on the borrowing constraint (see Iacoviello 2005, Monacelli 2009).”
• Global Liquidity, House Prices, and the Macroeconomy: Evidence from Advanced and Emerging Economies (2015, unknown): “In general equilibrium models of housing and the macroeconomy —see for example Iacoviello (2005), Monacelli (2009), and Liu, Wang, and Zha (2013)— collateral constraints can amplify the response of consumption and investment to ordinary business cycle shocks.”
• Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism (2019, unknown): “These firms face price adjustment costs as in Monacelli (2009) and this leads to movements in the relative price of durable goods relative to non-durables.”
• Mortgage Markets, Collateral Constraints, and Monetary Policy: Do Institutional Factors Matter? (2007, unknown): “By combining (6), (10) and (38) we can write :”
• Monetary and Macroprudential Policy Rules in a Model with House Price Booms (2009, unknown): “" ct = Et ct+1 (1 ")(rt Et pt+1); (32) ct "ct 1 1 " + [(' L) + L] l C t + (' L)(1 )l t = !t ; (33) and ct "ct 1 1 " + [(' L)(1 ) + L] l D t + (' L) l t = !t : (34)”