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Equilibrium Unemployment, Job Flows and Inflation Dynamics
Trigari, Antonella - 2021
In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. Then, it estimates a set of structural parameters...
Persistent link: https://www.econbiz.de/10013319481
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CBDC and business cycle dynamics in a New Monetarist New Keynesian model
Assenmacher-Wesche, Katrin; Bitter, Lea; Ristiniemi, Annukka - 2023
To study implications of an interest-bearing CBDC on the economy, we integrate a New Monetarist-type decentralised market that explicitly accounts for the means-of-exchange function of bank deposits and CBDC into a New Keynesian model with financial frictions. The central bank influences the...
Persistent link: https://www.econbiz.de/10014314330
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Is increased price flexibility stabilizing? : redux
Bhattarai, Saroj; Eggertsson, Gauti B.; Schoenle, Raphael - 2012
equilibrium (DSGE) model. First, using a simplified version of the model, we show analytically that the results depend on the …-scale DSGE model using post-WWII U.S. data and Bayesian methods and, conditional on the estimates of structural parameters and … flexibility ; aggregate volatility ; systematic monetary policy ; DSGE model ; Bayesian estimation …
Persistent link: https://www.econbiz.de/10009521652
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Identifying the Role of Labor Markets for Monetary Policy in an Estimated DSGE Model
Christoffel, Kai Philipp - 2016
structurally model matching frictions and rigid wages in line with an optimizing rationale in a New Keynesian closed economy DSGE …
Persistent link: https://www.econbiz.de/10012991186
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Identifying the Role of Labor Markets for Monetary Policy in an Estimated DSGE Model
Christoffel, Kai Philipp; Kuester, Keith; Linzert, Tobias - 2021
structurally model matching frictions and rigid wages in line with an optimizing rationale in a New Keynesian closed economy DSGE …
Persistent link: https://www.econbiz.de/10013317584
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Trend dominance in macroeconomic fluctuations
Shibayama, Katsuyuki - 2015
concern about the convention that the non-stationary data is detrended in standard DSGE-type structural estimation, in the …
Persistent link: https://www.econbiz.de/10011342928
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The role of labor markets for euro area monetary policy
Christoffel, Kai; Küster, Keith; Linzert, Tobias - 2009
In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible labor market would alter the business cycle behaviour...
Persistent link: https://www.econbiz.de/10003832582
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The role of labor markets for euro area monetary policy
Christoffel, Kai; Küster, Keith; Linzert, Tobias - 2009
In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible labor market would alter the business cycle behavior...
Persistent link: https://www.econbiz.de/10003827243
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The Role of Labor Markets for Euro Area Monetary Policy
Christoffel, Kai Philipp - 2009
In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible labor market would alter the business cycle behaviour...
Persistent link: https://www.econbiz.de/10012764518
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The Role of Labor Markets for Euro Area Monetary Policy
Christoffel, Kai Philipp - 2019
In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible labor market would alter the business cycle behavior...
Persistent link: https://www.econbiz.de/10012705990