Michael Plante
Biographic Data
| ID | 5737247 |
|---|---|
| NAME | Michael Plante |
| GIVEN NAMES | Michael |
| FAMILY NAME | Plante |
| SIGNATURE | PLANTE M |
| AFFILIATIONS | Federal Reserve Bank of Dallas |
| ORCID | 0000-0003-0604-105X |
| VERIFIED | Yes |
| TOTAL WORKS | 5 |
| TOTAL CITATIONS | 7 |
| AUTHOR COUNT | 5 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1995 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 1 |
Estimating Macroeconomic News and Surprise Shocks
A common VAR approach is to identify responses to TFP news shocks by maximizing the variance share of TFP over a long horizon. We find that these TFP max share estimators tend to be biased in large samples when applied to data generated from DSGE models with shock processes that match TFP moments in the data, especially in the presence of TFP measurement error. We propose an alternative max share news estimator that reduces this bias and the RMSE…
Macroeconomic Responses to Uncertainty Shocks: The Perils of Recursive Orderings
A common practice in empirical macroeconomics is to examine alternative recursive orderings of the variables in structural vector autoregressive (VAR) models. When the implied impulse responses look similar, the estimates are considered trustworthy. When they do not, the estimates are used to bound the true response without directly addressing the identification challenge. A leading example of this practice is the literature on the effects of unc…
The Zero Lower Bound and Endogenous Uncertainty
This paper documents a strong negative correlation between macroeconomic uncertainty and real GDP growth since the Great Recession. Prior to that event the correlation was weak, even when conditioning on recessions. At the same time, many central banks reduced their policy rate to its zero lower bound (ZLB), which we contend contributed to the strong correlation between macroeconomic uncertainty and real GDP growth. To test that theory, we use a …
The long-run macroeconomic impacts of fuel subsidies
"Things to Cover Walls": Ellsworth Kelly's Paris Paintings and the Tradition of Mural Decoration
The long-run macroeconomic impacts of fuel subsidies
The Zero Lower Bound and Endogenous Uncertainty
This paper documents a strong negative correlation between macroeconomic uncertainty and real GDP growth since the Great Recession. Prior to that event the correlation was weak, even when conditioning on recessions. At the same time, many central banks reduced their policy rate to its zero lower bound (ZLB), which we contend contributed to the strong correlation between macroeconomic uncertainty and real GDP growth. To test that theory, we use a …
"Things to Cover Walls": Ellsworth Kelly's Paris Paintings and the Tradition of Mural Decoration
The long-run macroeconomic impacts of fuel subsidies
The Zero Lower Bound and Endogenous Uncertainty
This paper documents a strong negative correlation between macroeconomic uncertainty and real GDP growth since the Great Recession. Prior to that event the correlation was weak, even when conditioning on recessions. At the same time, many central banks reduced their policy rate to its zero lower bound (ZLB), which we contend contributed to the strong correlation between macroeconomic uncertainty and real GDP growth. To test that theory, we use a …
Macroeconomic Responses to Uncertainty Shocks: The Perils of Recursive Orderings
A common practice in empirical macroeconomics is to examine alternative recursive orderings of the variables in structural vector autoregressive (VAR) models. When the implied impulse responses look similar, the estimates are considered trustworthy. When they do not, the estimates are used to bound the true response without directly addressing the identification challenge. A leading example of this practice is the literature on the effects of unc…
Estimating Macroeconomic News and Surprise Shocks
A common VAR approach is to identify responses to TFP news shocks by maximizing the variance share of TFP over a long horizon. We find that these TFP max share estimators tend to be biased in large samples when applied to data generated from DSGE models with shock processes that match TFP moments in the data, especially in the presence of TFP measurement error. We propose an alternative max share news estimator that reduces this bias and the RMSE…
Economics (4 works) · Econometrics (3 works) · Market Dynamics and Volatility (3 works) · Monetary Policy and Economic Impact (3 works) · Computer Science (2 works) · Global Financial Crisis and Policies (2 works) · Keynesian economics (2 works) · Mathematics (2 works) · Art (1 works) · Art history (1 works)