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This chapter aims to provide a hands-on approach to New Keynesian models and their uses for macroeconomic policy analysis. It starts by reviewing the origins of the New Keynesian approach, the key model ingredients and representative models. Building blocks of current-generation dynamic...
Persistent link: https://www.econbiz.de/10010391304
This chapter aims to provide a hands-on approach to New Keynesian models and their uses for macroeconomic policy analysis. It starts by reviewing the origins of the New Keynesian approach, the key model ingredients and representative models. Building blocks of current-generation dynamic...
Persistent link: https://www.econbiz.de/10014025269
Persistent link: https://www.econbiz.de/10011575063
and fiscal policy instruments in Egypt contribute to economic stability through their effects on inflation, output and …, inflation and debt. Also, it would be neither possible to contrast the outcome of monetary and fiscal authorities commitment to …
Persistent link: https://www.econbiz.de/10012159965
allow money-demand shocks to generate volatility in output and inflation, much as was the case under the money …
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We use a simple New Keynesian model, with firm specific capital, non-zero steady-state inflation, long-run risks and … rate by 150 basis points causes output and inflation volatility to rise around 10% above their steady-state standard … deviations from the policy rule and the results are re-enforced by the presence of non-zero trend inflation. …
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