Monetary policy in an uncertain world

Autores
Soria, Matias Gonzalo
Año de publicación
2025
Idioma
inglés
Tipo de recurso
tesis de maestría
Estado
versión corregida
Colaborador/a o director/a de tesis
García Cicco, Javier
Descripción
Fil: Soria, Matias Gonzalo. Universidad de San Andrés. Departamento de Economía; Argentina.
Monetary policy has been a central tool for policymakers in contexts of high uncertainty, as well as in periods of relative calm. This article examines how the effects of monetary policy vary under different levels of uncertainty. A New Keynesian DSGE model with recursive preferences is solved using perturbation methods, and its response to a monetary policy shock is characterized under the presence of stochastic volatility. The model is contrasted with the data by estimating the same responses through local projections regressions. Both exercises suggest that monetary shocks have more pronounced effects under high uncertainty. The article concludes by discussing extensions aimed at improving the model’s fit with the data.
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc-nd/4.0/
Repositorio
Repositorio Digital San Andrés (UdeSa)
Institución
Universidad de San Andrés
OAI Identificador
oai:repositorio.udesa.edu.ar:10908/25652
Acceder
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network_acronym_str RDUDESA
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network_name_str Repositorio Digital San Andrés (UdeSa)
spelling Monetary policy in an uncertain worldSoria, Matias GonzaloFil: Soria, Matias Gonzalo. Universidad de San Andrés. Departamento de Economía; Argentina.Monetary policy has been a central tool for policymakers in contexts of high uncertainty, as well as in periods of relative calm. This article examines how the effects of monetary policy vary under different levels of uncertainty. A New Keynesian DSGE model with recursive preferences is solved using perturbation methods, and its response to a monetary policy shock is characterized under the presence of stochastic volatility. The model is contrasted with the data by estimating the same responses through local projections regressions. Both exercises suggest that monetary shocks have more pronounced effects under high uncertainty. The article concludes by discussing extensions aimed at improving the model’s fit with the data.Universidad de San Andrés. Departamento de EconomíaGarcía Cicco, Javier2025-09-05T16:09:27Z2025-09-05T16:09:27Z2025-07Tesisinfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/updatedVersionhttp://purl.org/coar/resource_type/c_bdccinfo:ar-repo/semantics/tesisDeMaestriaapplication/pdfapplication/pdfhttps://repositorio.udesa.edu.ar/handle/10908/25652enginfo:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-nd/4.0/reponame:Repositorio Digital San Andrés (UdeSa)instname:Universidad de San Andrés2025-10-16T10:11:57Zoai:repositorio.udesa.edu.ar:10908/25652instacron:Universidad de San AndrésInstitucionalhttp://repositorio.udesa.edu.ar/jspui/Universidad privadaNo correspondehttp://repositorio.udesa.edu.ar/oai/requestmsanroman@udesa.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:23632025-10-16 10:11:58.103Repositorio Digital San Andrés (UdeSa) - Universidad de San Andrésfalse
dc.title.none.fl_str_mv Monetary policy in an uncertain world
title Monetary policy in an uncertain world
spellingShingle Monetary policy in an uncertain world
Soria, Matias Gonzalo
title_short Monetary policy in an uncertain world
title_full Monetary policy in an uncertain world
title_fullStr Monetary policy in an uncertain world
title_full_unstemmed Monetary policy in an uncertain world
title_sort Monetary policy in an uncertain world
dc.creator.none.fl_str_mv Soria, Matias Gonzalo
author Soria, Matias Gonzalo
author_facet Soria, Matias Gonzalo
author_role author
dc.contributor.none.fl_str_mv García Cicco, Javier
dc.description.none.fl_txt_mv Fil: Soria, Matias Gonzalo. Universidad de San Andrés. Departamento de Economía; Argentina.
Monetary policy has been a central tool for policymakers in contexts of high uncertainty, as well as in periods of relative calm. This article examines how the effects of monetary policy vary under different levels of uncertainty. A New Keynesian DSGE model with recursive preferences is solved using perturbation methods, and its response to a monetary policy shock is characterized under the presence of stochastic volatility. The model is contrasted with the data by estimating the same responses through local projections regressions. Both exercises suggest that monetary shocks have more pronounced effects under high uncertainty. The article concludes by discussing extensions aimed at improving the model’s fit with the data.
description Fil: Soria, Matias Gonzalo. Universidad de San Andrés. Departamento de Economía; Argentina.
publishDate 2025
dc.date.none.fl_str_mv 2025-09-05T16:09:27Z
2025-09-05T16:09:27Z
2025-07
dc.type.none.fl_str_mv Tesis
info:eu-repo/semantics/masterThesis
info:eu-repo/semantics/updatedVersion
http://purl.org/coar/resource_type/c_bdcc
info:ar-repo/semantics/tesisDeMaestria
format masterThesis
status_str updatedVersion
dc.identifier.none.fl_str_mv https://repositorio.udesa.edu.ar/handle/10908/25652
url https://repositorio.udesa.edu.ar/handle/10908/25652
dc.language.none.fl_str_mv eng
language eng
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Universidad de San Andrés. Departamento de Economía
publisher.none.fl_str_mv Universidad de San Andrés. Departamento de Economía
dc.source.none.fl_str_mv reponame:Repositorio Digital San Andrés (UdeSa)
instname:Universidad de San Andrés
reponame_str Repositorio Digital San Andrés (UdeSa)
collection Repositorio Digital San Andrés (UdeSa)
instname_str Universidad de San Andrés
repository.name.fl_str_mv Repositorio Digital San Andrés (UdeSa) - Universidad de San Andrés
repository.mail.fl_str_mv msanroman@udesa.edu.ar
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score 12.712165

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