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Full-Text Articles in Macroeconomics
Essays In New Keynesian Monetary Policy, Tzu-Hao Huang
Essays In New Keynesian Monetary Policy, Tzu-Hao Huang
Dissertations, Theses, and Capstone Projects
The dissertation consists of three Chapters. I consider New Keynesian models which involve tradeoffs between output gap and inflation variances. Such policy strategy is often referred to as flexible inflation targeting rules (e.g., Lars Svensson 2011, pp.1238-95). Taylor rules, in general, have the symbolic expression 𝑖t=𝜑x𝑥t+𝜑𝜋𝜋t+𝜑g𝑔t, where 𝑖t is the nominal interest rate at period t, 𝑥t is the target variable output gap at period t, 𝜋t is the target variable inflation rate at period t, 𝑔t is realized shock …
Essays On Inequality And Macroeconomic Stability, Thomas Hauner
Essays On Inequality And Macroeconomic Stability, Thomas Hauner
Dissertations, Theses, and Capstone Projects
This dissertation consists of three chapters. . .
Chapter 1: Aggregate Wealth and Its Distribution as Determinants of Financial Crises: Panel Evidence This essay investigates the relationship between wealth inequality and financial crises across a panel of nine advanced economies over the past 100 years. While substantiation of a role for income inequality is ambiguous in the literature, evidence is presented suggesting a unique capacity for the accumulation of assets to increase the likelihood of a future financial crisis episode. Testing long-run panel data with a reduced form, two-way fixed effects model, estimates suggest that increasing wealth inequality, in an …