Search Results - Business Economics

Testing models with fat tails via indirect inference

Minford, Patrick; Meenagh, David - 2026

Fat tails can in principle undermine the power of the standard indirect inference test. We examine this issue with Monte Carlo experiments, first for a New Keynesian model solved by the nonlinear algorithm method of Fair and Taylor. Here we find that the standard test has its usual high power,...

Persistent link: https://econbiz.de/10015672849

UK economic growth and inequality from 1870

Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick; … - 2025

Persistent link: https://econbiz.de/10015444957

Why applied macroeconomists should not use Bayesian estimation of DSGE models

Meenagh, David; Minford, Patrick; Xu, Yongdeng - 2025

experiments on two canonical DSGE models (a Real Business Cycle model and a New Keynesian model), that Bayesian estimation may …

Persistent link: https://econbiz.de/10015620049

UK economic growth and inequality from 1870

Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick; … - 2025

This paper examines the long-term relationship between economic growth and inequality in the UK using an endogenous growth model with heterogeneous agents. The model links entrepreneurial incentives to individual wealth, showing how wealth distribution endogenously influences growth. Estimation...

Persistent link: https://econbiz.de/10015329672

Does the fiscal theory of the price level help to explain the us economy?

Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick; … - 2025

Persistent link: https://econbiz.de/10015506773

Why applied macroeconomists should not use Bayesian estimation of DSGE models

Meenagh, David; Minford, Patrick; Xu, Yongdeng - 2025

experiments on two canonical DSGE models (a Real Business Cycle model and a New Keynesian model), that Bayesian estimation may …

Persistent link: https://econbiz.de/10015549860

Inflation persistence in the UK 1993-2019: From months to years

Dixon, Huw; Li, Yiyi; Meenagh, David; Tian, Maoshan - 2024

Persistent link: https://econbiz.de/10014581785

Does the fiscal theory of the price level explain US postwar behaviour?

Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick; … - 2024

Persistent link: https://econbiz.de/10015193946

Inflation persistence in the UK 1993-2019 : from months to years

Dixon, Huw; Li, Yiyi; Meenagh, David; Tian, Maoshan - 2024

In this paper we model monthly UK inflation and find that there is some small but significant autocorrelation, particularly at 12 months. We find that this autocorrelation in monthly inflation leads to significant persistence in the headline annual inflation figure. A one-off shock to monthly...

Persistent link: https://econbiz.de/10014491765

Does the fiscal theory of the price level explain US postwar behaviour?

Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick; … - 2024

We implement a quantitative empirical test of the fiscal theory of the price level (FTPL) model via indirect inference, comparing it to a standard New Keynesian model. The FTPL alternative creates a serious instability problem because it triggers a 'doom loop'in which inflation pushes up...

Persistent link: https://econbiz.de/10015149626

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