Peersman, Gert (contributor); Straub, Roland (contributor) - 2004
the model by Ireland (2002).
The representative agent follows the same utility function as in the RBC model:
maxg69
0 … criteria of three or less shocks are rejected. Impulse
responses and error bands are computed based on Monte Carlo integration … Review, 45(7), 1121-1150.
[17] Ireland, P., 2002, "Technology Shocks in the New Keynesian Model", mimeo, Boston
College.
[18 …