KORENOK, OLEG; SWANSON, NORMAN R. - In: Journal of Money, Credit and Banking 39 (2007) 6, pp. 1481-1508
In this paper, we add to the literature on the assessment of how well data simulated from new-Keynesian dynamic stochastic general equilibrium (DSGE) models reproduce the dynamic features of historical data. In particular, we evaluate sticky price, sticky price with dynamic indexation, and...