Search Results - "Sims, Christopher A."

Paper Money by Sims, Christopher A.

“…Drastic changes in central bank operations and monetary institutions in recent years have made previously standard approaches to explaining the determination…”
Get full text

Rational Inattention: Beyond the Linear-Quadratic Case by Sims, Christopher A.

“…This paper shows that moving beyond the linear-quadratic (LQ) Gaussian case is feasible by solving a simple two-period saving problem. The problem is so simple…”
Get full text

Statistical Modeling of Monetary Policy and Its Effects by Sims, Christopher A.

“…The science of economics has some constraints and tensions that set it apart from other sciences. One reection of these constraints and tensions is that, more…”
Get full text

Methods for inference in large multiple-equation Markov-switching models by Sims, Christopher A., Waggoner, Daniel F., Zha, Tao

“…Inference for multiple-equation Markov-chain models raises a number of difficulties that are unlikely to appear in smaller models. Our framework allows for…”
Get full text

Calculating and using second-order accurate solutions of discrete time dynamic equilibrium models by Kim, Jinill, Kim, Sunghyun, Schaumburg, Ernst, Sims, Christopher A.

“…We describe an algorithm for calculating second-order approximations to the solutions to nonlinear stochastic rational expectation models. The paper also…”
Get full text

Solving Linear Rational Expectations Models by Sims, Christopher

“…We describe methods for solving general linear rational expectations models in continuous or discrete timing with or without exogenous variables. The methods…”
Get full text

Bayesian Methods for Dynamic Multivariate Models by Sims, Christopher A., Zha, Tao

“…If dynamic multivariate models are to be used to guide decision-making, it is important that probability assessments of forecasts or policy projections be…”
Get full text

Feedbacks: Financial Markets and Economic Activity by Brunnermeier, Markus, Palia, Darius, Sastry, Karthik A., Sims, Christopher A.

“…Is credit expansion a sign of desirable financial deepening or the prelude to an inevitable bust? We study this question in modern US data using a structural…”
Get full text

When does a central banks? Balance sheet require fiscal support? by Negro, Marco Del, Sims, Christopher A

“…Using a simple, general equilibrium model, we argue that it would be appropriate for a central bank with a large balance sheet composed of long-duration…”
Get full text

Were There Regime Switches in U.S. Monetary Policy? by Sims, Christopher A., Zha, Tao

“…A multivariate regime-switching model for monetary policy is confronted with U.S. data. The best fit allows time variation in disturbance variances only. With…”
Get full text

Discrete Actions in Information-Constrained Decision Problems by JUNG, JUNEHYUK, KIM, JEONG HO (JOHN), MATĚJKA, FILIP, SIMS, CHRISTOPHER A.

“…Individuals are constantly processing external information and translating it into actions. This draws on limited resources of attention and requires…”
Get full text

Implications of rational inattention by Sims, Christopher A.

“…A constraint that actions can depend on observations only through a communication channel with finite Shannon capacity is shown to be able to play a role very…”
Get full text

But Economics Is Not an Experimental Science by Sims, Christopher A.

“…The fact is, economics is not an experimental science and cannot be. “Natural” experiments and “quasi” experiments are not in fact experiments. They are…”
Get full text

Comments and Discussion by BLANCHARD, OLIVIER, SIMS, CHRISTOPHER A.

Get full text

Systematic Monetary Policy and the Effects of Oil Price Shocks by Bernanke, Ben S., Gertler, Mark, Watson, Mark, Sims, Christopher A., Friedman, Benjamin M.

“…An attempt is made to increase understanding of the role of monetary policy in postwar US business cycles. Some modest first steps are taken toward sorting out…”
Get full text

Pitfalls of a Minimax Approach to Model Uncertainty by Sims, Christopher A.

“…Some have suggested that minimax robust approaches are appealing because they are more tractable than methods that put an explicit probability distribution on…”
Get full text

Stepping on a rake: The role of fiscal policy in the inflation of the 1970s by Sims, Christopher A.

“…The inflation of the 1970s in the US is often discussed as if the only type of policy action that could have prevented the inflation were monetary policy…”
Get full text

A Simple Model for Study of the Determination of the Price Level and the Interaction of Monetary and Fiscal Policy by Sims, Christopher A.

“…A representative-agent model with money holdings motivated by transactions costs, a fiscal authority that taxes and issues debt, no production, and a…”
Get full text

When does a central bank׳s balance sheet require fiscal support? by Del Negro, Marco, Sims, Christopher A.

“…Using a simple, general equilibrium model, we argue that it would be appropriate for a central bank with a large balance sheet composed of long-duration…”
Get full text

Comment on: Reflections on the Probability Space Induced by Moment Conditions with Implications for Bayesian Inference by Sims, Christopher A.

“…Because assessing an application-specific prior is difficult and, for scientific inference, often not even desirable, quick and standardized approaches to…”
Get full text