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Persistent stochastic shocks in a new Keynesian model with uncertainty
Kranz, Tobias - 2016
be derived by quadratic approximation. This leaves uncertainty in the basic three-equation model. After adding exogenous … AR(1) processes, I examine the results by numerical simulation. First, I derive a reduced-form solution for the nominal …, impulse response functions show the adjustments over time after a cost shock. As a result, accounting for uncertainty can lead …
Persistent link: https://www.econbiz.de/10011479496
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Calibrating the equilibrium condition of a New Keynesian model with uncertainty
Kranz, Tobias - In: Review of economics 68 (2017) 2, pp. 117-151
Persistent link: https://www.econbiz.de/10011943970
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Testing the monetary policy rule in the US : a reconsideration of the Fed's behaviour
Minford, Patrick; Ou, Zhirong - 2009
Keynesian model ; the "target rule" ; Taylor-type rules ; Bootstrap simulation ; VAR ; Indirect inference ; Wald statistic …
Persistent link: https://www.econbiz.de/10003882196
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The New Keynesian approach to dynamic general equilibrium modeling : models, methods, and macroeconomic policy evaluation
Schmidt, Sebastian; Wieland, Volker - 2012
whether particular policy recommendations are robust to model uncertainty. Such robustness analysis is illustrated by …
Persistent link: https://www.econbiz.de/10010391304
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Lumpy Investment and Monetary Policy : A Comparative Analysis in a DSGE New-Keynesian Framework
Coco, Alberto - 2014
This paper analyses the theoretical and policy implications of assuming firm-specific lumpy investment behaviour by firms and compares such implications to those occurring when adopting different investment specifications in a new-Keynesian framework. We develop numerical simulations of the...
Persistent link: https://www.econbiz.de/10013059715
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Uncovered interest parity with foreign exchange interventions under exchange rate peg and inflation targeting : the case of Ukraine
Grui, Anton - 2020
In this study, I modify the uncovered interest parity condition to account for foreign exchange interventions in the context of a small open economy. This is done in a framework of a semistructural New Keynesian model. I examine the case of Ukraine, which de facto transitioned to inflation...
Persistent link: https://www.econbiz.de/10012262254
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Chapter 22. The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods and Macroeconomic Policy Evaluation
Schmidt, Sebastian; Wieland, Volker - In: Handbook of computable general equilibrium modeling : …, (pp. 1439-1512). 2013
whether particular policy recommendations are robust to model uncertainty. Such robustness analysis is illustrated by …
Persistent link: https://www.econbiz.de/10014025269
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Uncertain Forward Guidance
Haberis, Alex - 2017
We explore the effects of forward guidance at the zero lower bound when there is uncertainty over the lift-off date …
Persistent link: https://www.econbiz.de/10012959532
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Stability and Identification with Optimal Macroprudential Policy Rules
Chatelain, Jean-Bernard - 2014
This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest...
Persistent link: https://www.econbiz.de/10013055547
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Can we identify the Fed's preferences?
Chatelain, Jean-Bernard; Ralf, Kirsten - 2017
Using US data, we estimate optimal policy with a probability below one that the Fed reneges on its commitment ("limited credibility") versus discretionary policy where the Fed reneges on its commitment at all periods with a probability equal to one ("zero credibility"). The transmission...
Persistent link: https://www.econbiz.de/10011695111