Good news about news shocks

1. Person: Langer, Viktoria C. E.
Format: Online-Artikel
Sprache: English
Veröffentlicht: University of Hamburg, Faculty of Business, Economics and Social Sciences, Chair for Economic Policy 2015
Serien: Hamburg Contemporary Economic Discussions
Online Zugang: http://hdl.handle.net/10419/149371
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oai_econstor.eu_10419-149371
recordtype
econstor
institution
MPG
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ECONSTOR
title
Good news about news shocks
spellingShingle
Good news about news shocks
Langer, Viktoria C. E.
Hamburg Contemporary Economic Discussions
title_short
Good news about news shocks
title_full
Good news about news shocks
title_fullStr
Good news about news shocks
title_full_unstemmed
Good news about news shocks
title_sort
Good news about news shocks
format
electronic Article
format_phy_str_mv
Paper
publisher
University of Hamburg, Faculty of Business, Economics and Social Sciences, Chair for Economic Policy
publishDate
2015
language
English
author
Langer, Viktoria C. E.
description
Extending and modifying the canonical New Keynesian (NK) model, this study provides a novel approach to examine the impact of anticipated shocks called "news shocks" on business cycles. The analysis shows that news shocks are less stressful for an economy than commonly assumed. The main results are as follows: (1) triggering lower economic fluctuations than unanticipated shocks of equal size news shocks behave in a welfare-enhancing manner, and (2) purely history-dependent monetary policy rules do not constitute an effective monetary instrument to keep welfare losses to a minimum.
url
http://hdl.handle.net/10419/149371
series
Hamburg Contemporary Economic Discussions
seriesStr
Hamburg Contemporary Economic Discussions
Hamburg Contemporary Economic Discussions
series2
Hamburg Contemporary Economic Discussions
series2_facet
Hamburg Contemporary Economic Discussions
up_date
2019-09-18T02:54:22.368Z
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1644980108788760583

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