Haku
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Does my model predict a forward guidance puzzle?
(10.09.2019)
Bank of Finland Research Discussion Papers 19/2019
Bank of Finland Research Discussion Papers 19/2019
We provide suffcient conditions for when a rational expectations structural model predicts bounded responses of endogenous variables to forward guidance announcements. The conditions coincide with a special case of the ...
The Phillips Curve at 60: time for time and frequency
(12.07.2019)
Bank of Finland Research Discussion Papers 12/2019
Bank of Finland Research Discussion Papers 12/2019
We estimate the U.S. New Keynesian Phillips Curve in the time-frequency domain with continuous wavelet tools, to provide an integrated answer to the three most controversial issues on the Phillips Curve. (1) Has the short-run ...