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sensitive

Overview page. Subjects: Medicine and Health.

adj. possessing the ability to respond to a stimulus. The cells of the retina, for example, are sensitive to the stimulus of light and respond by sending nerve impulses to the...

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Monetary Policy Shifts and the Term Structure

Andrew Ang, Jean Boivin, Sen Dong and Rudy Loo-Kung.

in The Review of Economic Studies

April 2011; p ublished online February 2011 .

Journal Article. Subjects: Econometric and Statistical Methods and Methodology: General; Multiple or Simultaneous Equation Models; Multiple Variables; Monetary Policy, Central Banking, and the Supply of Money and Credit; Money and Interest Rates. 12555 words.

We estimate the effect of shifts in monetary policy using the term structure of interest rates. In our no-arbitrage model, the short rate follows a version of the Taylor's (1993,...

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Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries

S Borağan Aruoba, Pablo Cuba-Borda and Frank Schorfheide.

in The Review of Economic Studies

January 2018; p ublished online April 2017 .

Journal Article. Subjects: Econometric Modelling; Money and Interest Rates; Monetary Policy, Central Banking, and the Supply of Money and Credit. 14742 words.

Abstract

We compute a sunspot equilibrium in an estimated small-scale New Keynesian model with a zero lower bound (ZLB) constraint on nominal interest rates...

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