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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

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

Interactive macroeconomics : a pluralist simulator

Prante, Franz J.; Barmucci, Alessandro; Hein, Eckhard; … - 2019

The aim of our contribution is to present an innovative instrument to teach macroeconomics at the undergraduate and master level. We develop a digital learning platform to present and explore some controversies at the very foundations of macroeconomic theory. For this purpose, we explicitly...

Persistent link: https://www.econbiz.de/10011994508

Simple Monetary Policy Rules Under Model Uncertainty

Isard, Peter; Laxton, Douglas; Eliasson, Ann-Charlotte - 2021

Using stochastic simulations and stability analysis, the paper compares how different monetary rules perform in a moderately nonlinear model with a time-varying nonaccelerating-inflation-rate-of-unemployment (NAIRU). Rules that perform well in linear models but implicitly embody backward-looking...

Persistent link: https://www.econbiz.de/10013317691

Propelling steady growth and high-quality development through deeper reform and more comprehensive opening up : outlook, policy simulations, and reform implementation : a summary of the Annual SUFE Macroeconomic Report (2021-2022)

Huang, Kevin X. D.; Tian, Guoqiang; Zhao, Lin - In: International studies of economics 17 (2022) 1, pp. 2-20

China's economy underwent a steady recovery in 2021. Investment grew steadily with structural improvement. Exports and imports surged while trade surplus expanded. On the other hand, although labor market conditions improved, income distribution worsened, contributing to sluggish growth in...

Persistent link: https://www.econbiz.de/10013454213

Centering on economic construction to stabilize general socioeconomic conditions while fully promoting economic recovery : outlook, policy simulations, and reform implementation : a summary of the annual SUFE macroeconomic report (2022-2023)

Huang, Kevin X. D.; Tian, Guoqiang; Wang, Xiaowen - In: International studies of economics 18 (2023) 1, pp. 2-20

the year, rising income uncertainty set off by the pandemic shock continued depressing household consumption and housing …

Persistent link: https://www.econbiz.de/10014288667

Empirical determination of aggregate demand and supply curves: The example of the RWI Business Cycle Model

Heilemann, Ullrich; Findeis, Hagen - In: Economic Modelling 29 (2012) 2, pp. 158-165

comparisons. This paper uses the AD/AS–IS/LM apparatus to analyse the simulation properties of the RWI (Rheinisch …

Persistent link: https://www.econbiz.de/10011048911

On Building Economic Development Patterns for Russia and Belorussia on the Basis of LAM-3 Econometric Model

Charemza, Wojciech; Makarova, Makarova , Svetlana; … - In: Applied Econometrics 2 (2006) 2, pp. 124-139

The article deals with the results of econometric model building for Russian and Belorussian economic development using the LAM-3 methodology. LAM-3 is the most recent version of the Long-run Adjustment Model that is used for quarter-to-quarter modeling and forecasting to show the economic...

Persistent link: https://www.econbiz.de/10009275457

Heterodox shocks

Hannsgen, Greg - 2013 - Revised version

Should shocks be part of our macro-modeling tool kit - for example, as a way of modeling discontinuities in fiscal policy or big moves in the financial markets? What are shocks, and how can we best put them to use? In heterodox macroeconomics, shocks tend to come in two broad types, with some...

Persistent link: https://www.econbiz.de/10009752205

A Matlab Simulator for Debt and Interest Payment Dynamics

Quilis, Enrique M. - 2016

In this paper we present a MATLAB simulator designed to estimate the future path of debt and interest payments. The code represents in a compact way the joint dynamics of debt liabilities and interest payments as a function of five elements: the initial outstanding debt, the primary funding, the...

Persistent link: https://www.econbiz.de/10012991596