4 citations · 4 across the 4 of their papers we have counts for
5 papers
Coherence without Rationality at the Zero Lower Bound
Guido Ascari, Sophocles Mavroeidis, Nigel McClung
Standard rational expectations models with an occasionally binding zero lower bound constraint either admit no solutions (incoherence) or multiple solutions (incompleteness). This…
Empirical evidence on the Euler equation for investment in the US
Guido Ascari, Qazi Haque, Leandro M. Magnusson +1
Is the typical specification of the Euler equation for investment employed in DSGE models consistent with aggregate macro data? Using state-of-the-art econometric methods that are…
The public debt multiplier
Alice Albonico, Guido Ascari, Alessandro Gobbi
We study the effects on economic activity of a pure temporary change in government debt and the relationship between the debt multiplier and the level of debt in an overlapping gen…
Monetary-fiscal interactions under price level targeting
Guido Ascari, Anna Florio, Alessandro Gobbi
The adoption of a "makeup" strategy is one of the proposals in the ongoing review of the Fed's monetary policy framework. Another suggestion, to avoid the zero lower bound, is a mo…
The unbearable lightness of equilibria in a low interest rate environment
Guido Ascari, Sophocles Mavroeidis
Structural models with no solution are incoherent, and those with multiple solutions are incomplete. We show that models with occasionally binding constraints are not generically c…