Castelnuovo, Efrem; Fanelli, Luca - Dipartimento di Scienze Economiche "Marco Fanno", … - 2013
We propose a novel robust test to assess whether an estimated new-Keynesian model is consistent with a unique stable …) that the new-Keynesian system places on its reduced form solution under determinacy. If the CER are not rejected, we rule … by some Monte Carlo experiments. Finally, we apply our robust test to a new-Keynesian AD/AS model estimated with actual U …