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a new Keynesian dynamic stochastic general equilibrium (DSGE) model to study how an oil price shock impact macroeconomic … aggregates in an oil-rich emerging economy. We consider a positive oil price shock to uncover the extent to which oil price … oil price shock, reveal evidence of Dutch disease and the operation of the Harrod-Balassa-Samuelson effect. We find a …
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precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE … and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a …
Persistent link: https://www.econbiz.de/10013149459
precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE … and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a …
Persistent link: https://www.econbiz.de/10012677522
This paper shows how the average maturity of corporate bonds can affect the transmission of shocks if financial frictions prevail. We modify a standard financial accelerator model à la Bernanke, Gertler, and Gilchrist (1999) and allow for market-based debt which has a market-determined price....
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