Monetary and Fiscal Policy Rules with Labour Market and Financial Frictions
Lead Research Organisation:
University of Surrey
Department Name: Economics
Abstract
Abstracts are not currently available in GtR for all funded research. This is normally because the abstract was not required at the time of proposal submission, but may be because it included sensitive information such as personal details.
Organisations
Publications
Batini N
(2012)
Successful Austerity in the United States, Europe and Japan
in IMF Working Papers
Cantore C
(2012)
Getting normalization right: Dealing with 'dimensional constants' in macroeconomics
in Journal of Economic Dynamics and Control
Cantore C
(2014)
A Fiscal Stimulus and Jobless Recovery
in The Scandinavian Journal of Economics
Cantore C
(2012)
A fiscal stimulus with deep habits and optimal monetary policy
in Economics Letters
Cristiano Cantore (Author)
Deep versus superficial habit; its all in the persistence
Cristiano Cantore (Author)
CES technology and business cycle fluctuations
Cristiano Cantore (Author)
Fiscal-monetary policy : a DSGE model fit for purpose
Fragetta M
(2011)
THE EFFECTS OF FISCAL POLICY SHOCKS IN SVAR MODELS: A GRAPHICAL MODELLING APPROACH EFFECTS OF FISCAL POLICY SHOCKS IN SVAR MODELS
in Scottish Journal of Political Economy
Fragetta M
(2012)
Identification of monetary policy in SVAR models: a data-oriented perspective
in Empirical Economics
Levine P
(2012)
Endogenous Persistence in an Estimated DSGE Model Under Imperfect Information
in The Economic Journal
| Description | Scientific impact has been achieved through the dissemination of 22 papers, 4 already published, in leading journals, and two forthcoming. The remaining papers were either presented at conferences and/or are discussion papers either out or forthcoming. We presented our main findings in presentations of papers at a very successful end-of-project Conference in September, 2012. Both academics and researchers from the Central Banks of Norway, Portugal and the BoE attended this event. The project has also received media impact. Batini et al. (2012), has received particular attention also by the broad public and enjoyed substantial media coverage. Nicoletta Batini, one of the co-authors, released an interview to the BBC 4 Radio program "Today" on 24 August 2012. Several leading newspapers have reported the findings of the paper (among which "The Daily Telegraph", "Die Zeit", "L'Unita", "La Stampa", "Il fatto quotidiano"). The paper was also the subject of discussion on internet blogs, including those of leading academics. For example, Simon Wren-Lewis at Oxford, in his "Mainly Macro" blog, includes the paper among those he defines as 'some of the best policy orientated empirical macro research at the moment'. Scientific, policy and practical impact were also achieved through short training courses on DSGE modelling at various venues and at a one-week Summer School the University of Surrey, in September 2012. During the course of the project short courses were delivered at the University of Glasgow, July, 2011; the University of Porto, January 2012; Minho University, June 2012; the Peoples' Bank of China (PBOC), October 2012. Given that researchers from Central Banks from including the BoE, the PBOC, the ECB, the Central Banks of Portugal and Nigeria have attended these courses, these events provide an important indirect impact on the policy advice given by researchers to those setting policy. |
| First Year Of Impact | 2011 |
| Sector | Government, Democracy and Justice |
| Impact Types | Economic |
| Description | April 14-18, 2013, RES Easter School, DSGE Modelling and Financial Frictions |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | Yes |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | The School disseminated the DSGE modelling general methodology and its application to the incorporation of a banking sector into such models features central to the output from project ES/H028528/1. PhD students, lecturers and researchers from the Bank of England, the Bank of Portugal and the Treasury attended this School. A result of the latter has been a stimulated interest in the use of DSGE models for policy-making. |
| Year(s) Of Engagement Activity | 2013 |
| Description | January 30-2 February, Winter School on DSGE Modelling for the PhD program, University of Porto |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | Yes |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The School disseminated the DSGE modelling methodology that was central to the output from project ES/H028528/1. Many participants went on to use the modelling skills acquired in their subsequent research |
| Year(s) Of Engagement Activity | 2012 |
| Description | July 5-7, 2011, Summer School on DSGE Modelling for the Scottish PhD program, University of Glasgow |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | Yes |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | The School disseminated the DSGE modelling methodology that was central to the output from project ES/H028528/1. Many participants have subsequently reported that the school provided a gateway to DSGE modelling in their subsequent research. Three researchers from the Bank of England also attended and this stimulated interest in the use of DSGE models at the Bank. |
| Year(s) Of Engagement Activity | 2011 |
| Description | June 20-22, 2012, Summer School on DSGE Modelling at the University of Minho, Braga, Portugal (30 participants) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | Yes |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The School disseminated the DSGE modelling methodology that was central to the output from project ES/H028528/1. Both PhD students and researchers from the Bank of Portugal attended this School. A result of the latter has been a stimulated interest in the use of DSGE models at the Bank. |
| Year(s) Of Engagement Activity | 2012 |
| Description | September 10-13, 2012, First CIMS DSGE Modelling Summer School followed by a 1-day conference. |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | Yes |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The School disseminated the DSGE modelling methodology that was central to the output from project ES/H028528/1. PhD students, lecturers and researchers from a number of Central banks and Ministries attended this School. A result of the latter has been a stimulated interest in the use of DSGE models for policy-making. |
| Year(s) Of Engagement Activity | 2012 |
| Description | September 9-13, 2013, Second CIMS DSGE Modelling Summer School |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | Yes |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The School disseminated the DSGE modelling general methodology and its application to the incorporation of a banking sector and unemployment into such models features central to the output from project ES/H028528/1. PhD students, lecturers and researchers from many central banks and ministries attended this School. A result of the latter has been a stimulated interest in the use of DSGE models for policy-making. |
| Year(s) Of Engagement Activity | 2013 |