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Estimated general equilibrium models for the evaluation of monetary policy in the US and Europe

Leith, Campbell B.; Malley, James R. - 2002

A persistent criticism of general equilibrium models of monetary policy which incorporate nominal inertia in the form of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In this paper we derive a general equilibrium model based on...

Persistent link: https://www.econbiz.de/10011409738

Estimated general equilibrium models for the evaluation of monetary policy in the US and Europe

Leith, Campbell B.; Malley, James R. - In: European economic review : EER 49 (2005) 8, pp. 2137-2159

Persistent link: https://www.econbiz.de/10003154303

Comparing New Keynesian models of the business cycle: A Bayesian approach

Rabanal, Pau; Rubio-Ramírez, Juan Francisco - In: Journal of monetary economics 52 (2005) 6, pp. 1151-1166

Persistent link: https://www.econbiz.de/10003184628

Estimated general equilibrium models for the evaluation of monetary policy in the US and Europe

Leith, Campbell B.; Malley, James R. - 2002

A persistent criticism of general equilibrium models of monetary policy which incorporate nominal inertia in the form of the New Keynesian Phillips Curce (NKPC) is that they fail to capture the extent of inflation inertia in the data. In this paper we derive a general equilibrium model based on...