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Product quality, measured inflation and monetary policy
Rodnyansky, Alexander; Van der Ghote, Alejandro; Wales, … - 2022
This paper proposes a tractable New Keynesian (NK) economy with endogenous adjustment in product quality that nests the canonical framework. Endogenous quality choice reduces the slope of the traditional NK Phillips curve and ampliffes the economy's response to productivity shocks. This leads to...
Persistent link: https://www.econbiz.de/10013277166
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The growth and welfare analysis of patent and monetary policies in a Schumpeterian economy
Huang, Chienyu; Yang, Yibai; Cheng, Chu-Chuan - In: International review of economics & finance : IREF 52 (2017), pp. 409-426
Persistent link: https://www.econbiz.de/10011791362
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Interactive effects of monetary policy and patent protection : the role of endogenous innovation size
Lu, You-Xun - In: Economic modelling 113 (2022), pp. 1-11
Persistent link: https://www.econbiz.de/10013349250
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A monetary business cycle model with unemployment
Alexopoulos, Michelle - In: Journal of economic dynamics & control 31 (2007) 12, pp. 3904-3940
Persistent link: https://www.econbiz.de/10003569852
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Predicting the effects of federal reserve policy in a sticky-price model : an analytical approach
McGrattan, Ellen R. - 1999
potentially large but short-lived response in output. Shocks to government spending and technology lead to persistent changes in … output but the percentage change in output is predicted to be smaller than the percentage changes in spending or technology …, government spending, and technology shocks. These comparisons confirm the theoretical findings. In response to observed changes …
Persistent link: https://www.econbiz.de/10001447236
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Technology persistence and monetary policy
Pancrazi, Roberto; Vukotic, Marija - 2013
Persistent link: https://www.econbiz.de/10009779067
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On quality bias and inflation targets
Schmitt-Grohé, Stephanie; Uribe, Martín - 2009
Persistent link: https://www.econbiz.de/10003909819
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Inflation, endogenous quality increment, and economic growth
Hu, Ruiyang; Yang, Yibai; Zheng, Zhijie - In: Mathematical social sciences 114 (2021), pp. 72-86
Persistent link: https://www.econbiz.de/10013268040
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Vertical Differentiation in Monetary Search-Theorectic Models-Revisited
Chang, Chia-Ying - 2010
In this article, the discussion on quality levels in the monetary search theoretical model is extended. By having quality levels endogenously determined, we found that whether money holders have quality preferences is crucial to the results. While the effect of the fraction of money on quality...
Persistent link: https://www.econbiz.de/10013149151
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Product Quality, Measured Inflation and Monetary Policy
Rodnyansky, Alexander; Van der Ghote, Alejandro; Wales, … - 2021
This paper proposes a tractable New Keynesian (NK) economy with endogenous adjustment in product quality that nests the canonical framework. Endogenous quality choice reduces the slope of the traditional NK Phillips curve and amplifies the economy's response to productivity shocks. This leads to...
Persistent link: https://www.econbiz.de/10013247090