Adam, Klaus (contributor); Billi, Roberto M. (contributor) - 2005
commitment in New Keynesian models. A stochastic
forward-looking model with lower bound, calibrated to the U.S. economy … policy in
a benchmark New Keynesian model, featuring monopolistic competition and
sticky prices in the product market (see …)). Following Rotemberg (1987), this is often
referred to as the ‘New Keynesian’ model, that has frequently been studied in
the …