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» Resultado: 3 registros
| Registro 1 de 3 | |
| Autor: | Fuhrer, Jeffrey-C - |
| Título: | Habit Formation in Consumption and Its Implications for Monetary-Policy Models |
| Fuente: | American Economic Review. v.90, n.3. American Economic Association |
| Páginas: | pp. 367-90 |
| Año: | June 2000 |
| Resumen: | This paper explores a monetary-policy model with habit formation for consumers, in which consumers’ utility depends in part on current consumption relative to past consumption. The empirical tests developed in the paper show that one can reject the hypothesis of no habit formation with tremendous confidence, largely because the habit-formation model captures the gradual hump-shaped response of real spending to various shocks. The paper then embeds the habit-consumption specification in a monetary-policy model and finds that the responses of both spending and inflation to monetary-policy actions are significantly improved by this modification. |
| Solicitar por: | HEMEROTECA A + datos de Fuente |
| Registro 2 de 3 | |
| Autor: | Fuhrer, Jeffrey-C - Moore, George-R |
| Título: | Monetary Policy Trade-offs and the Correlation between Nominal Interest Rates and Real Output |
| Fuente: | American Economic Review. v.85, n.1. American Economic Association |
| Páginas: | pp. 219-39 |
| Año: | Mar. 1995 |
| Resumen: | The authors present a structural model of the U.S. economy that combines their price-contracting specification with a term-structure relationship, an aggregate demand curve, and a monetary-policy reaction function. The model matches important features of postwar data well and provides a structural explanation of the correlation between real output and the short-term nominal rate of interest. The authors perform a battery of monetary-policy experiments that show that, as viewed through the lens of this model, monetary policy has struck a good balance recently among competing monetary-policy objectives. |
| Solicitar por: | HEMEROTECA A + datos de Fuente |
| Registro 3 de 3 | |
| Autor: | Carroll, Christopher-D - Fuhrer, Jeffrey-C - Wilcox, David-W - |
| Título: | Does Consumer Sentiment Forecast Household Spending? If So, Why? |
| Fuente: | American Economic Review. v.84, n.5. American Economic Association |
| Páginas: | pp. 1397-1408 |
| Año: | Dec. 1994 |
| Solicitar por: | HEMEROTECA A + datos de Fuente |
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