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Browsing Department of Economics (ECO) by Author "ELLISON, Martin"
Now showing items 1-4 of 4
Title:Regime-Dependent Impulse Response Functions in a Markov-Switching Vector Autoregression Model
Author(s):EHRMANN, Michael; ELLISON, Martin; VALLA, NatachaDate:2003Type of Publication:ArticleAbstract:This paper combines both Markov-switching and structural identifying restrictions in a vector autoregression model. The resulting regime-dependent impulse response functions show how the reaction of variables in the model ...
Title:Learning, Uncertainty and Central Bank Activism in An Economy With Strategic Interactions
Author(s):ELLISON, Martin; VALLA, NatachaDate:2001Type of Publication:ArticleAbstract:In this paper we examine the optimal level of central bank activism in a standard model of monetary policy with uncertainty, learning and strategic interactions. We calibrate the model using G7 data and find that the ...
Title:Sticky Prices and Volatile Output
Author(s):ELLISON, Martin; SCOTT, A.Date:2000Type of Publication:ArticleAbstract:We examine the effect of introducing a specific type of price stickiness into a stochastic growth model, subject to a cash in advance constraint. As in previous studies, we find the introduction of price rigidities provides ...