Michel Juillard

Stochastic extended path

Stéphane Adjemian, Michel Juillard

fr (code pays fourni par la source)

Stochastic Extended Path

Stéphane Adjemian, Michel Juillard

fr (code pays fourni par la source)

Computing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy

Michel Juillard, Florian Pelgrin

Since the contribution of Kydland and Prescott (1977), it is well known that the optimal Ramsey policy is time inconsistent. In a series of recent contributions, Woodford (2003) proposes a new methodology to circumvent this problem, namely the timeless perspective solution. However, …

fr (code pays fourni par la source)

Dynamic Stochastic General Equilibrium Models

Michel Juillard

Dynamic Stochastic General Equilibrium (DSGE) models have become popular in macroeconomics, but the combination of nonlinear microeconomic behavior of the agents and model-consistent expectations raise intricate computational issues; this chapter reviews solution methods and estimation of DSGE models. Perfect foresight deterministic models …

fr (code pays fourni par la source)

Can Fiscal Budget-Neutral Reforms Stimulate Growth? Model-Based Results

Laurent Ferrara, Michel Juillard, Daniele Siena

fr, au (code pays fourni par la source)

Can Fiscal Budget-Neutral Reforms Stimulate Growth? Model-Based Results

Matthieu Bussière, Laurent Ferrara, Michel Juillard, Daniele Siena

This paper focuses on growth enhancing budget-neutral fiscal reforms, i.e. changes in the \ncomposition of government revenues and spending that stimulate GDP growth while keeping the \nratio of the fiscal budget to GDP constant. To this aim, we present simulation results using …

Avoiding Dark Corners

Ali Alichi, Charles Freedman, Ondra Kamenik, Michel Juillard et autres

Inflation-Forecast Targeting

Charles Freedman, Michel Juillard, Ondrej Kamenik, Douglas Laxton et autres

Inflation-Forecast Targeting; Applying the Principle of Transparency

Charles Freedman, Michel Juillard, Ondra Kamenik, Douglas Laxton et autres

Many central banks in emerging and advanced economies have adopted an inflation-forecast targeting (IFT) approach to monetary policy, in order to successfully establish a stable, low-inflation environment. To support policy making, each has developed a structured system of forecasting and policy analysis …

Inflation-Forecast Targeting

Kevin Clinton, Charles Freedman, Michel Juillard, Ondra Kamenik et autres

Many central banks in emerging and advanced economies have adopted an inflation-forecast targeting (IFT) approach to monetary policy, in order to successfully establish a stable, low-inflation environment. To support policy making, each has developed a structured system of forecasting and policy analysis …

us (code pays fourni par la source)

Avoiding Dark Corners

Ali Alichi, Charles Freedman, Ondra Kamenik, Michel Juillard et autres

us, ca, fr (code pays fourni par la source)

Inflation-Forecast Targeting: Applying the Principle of Transparency

Charles Freedman, Michel Juillard, Ondra Kamenik, Douglas Laxton et autres

ca, us, fr (code pays fourni par la source)