Brent
Bundick Welcome Research Experience Code CV |
Research Thanks for your interest in my work! Currently, my KC Fed webpage is the best place to find my current research. The remainder of this page contains work that does not appear on that page. |
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Working
Papers Real Fluctuations at the Zero Lower Bound Aggregate
demand becomes upward sloping when the economy is stuck
at the zero lower bound. Thus, the economy may
respond very
differently to real shocks. A positive technology
shock which
shifts aggregate supply downward can cause a large
contraction in
output. However, these differential responses to
shocks emerge
when the central bank follows a standard Taylor rule (TR)
subject to
the zero lower bound. This rule implies that the
central
bank stops responding to the state of the economy at the
zero lower
bound. This assumption is inconsistent with the
recent behavior
by
monetary policymakers. The responses to shocks may
not
be so different if the
central bank follows a history-dependent
(HD) rule, which continues to respond the economy using
expectations
about future policy.
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Discussions Discussion of Monetary Policy Slope & the Stock Market By Andreas Neuhierl and Michael Weber Midwest Finance Association Annual Meeting, March 2018 Discussion of Learning in the Oil Futures Market: Evidence & Macroeconomic Implications By Sylvain Leduc, Kevin Moran, and Robert Vigfusson Federal Reserve System Energy Conference, September 2017 Discussion of Oil Volatility Risk By Lin Gao, Steffen Hitzemann, Ivan Shaliastovich, & Lai Xu American Finance Association Meeting, January 2017 Discussion of Global Dynamics at the Zero Lower Bound By William T. Gavin, Benjamin D. Keen, Alexander Richter, & Nathaniel Throckmorton Federal Reserve System Macroeconomics Meeting, April 2014 |