María-Dolores, Ramón; Vázquez Pérez, Jesús - Departamento de Fundamentos del Análisis Económico … - 2005
This paper estimates a standard version of the New Keynesian monetary (NKM) model under alternative specifications of the monetary policy rule using U.S. and Eurozone data. The estimation procedure implemented is a classical method based on the indirect inference principle. An unrestricted VAR...