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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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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
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Centering on economic construction to stabilize general socioeconomic conditions while fully promoting economic recovery : outlook, policy simulations, and reform implementation :...
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
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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
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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
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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
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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
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How justified is abandoning money from monetary policy? : evidence from dynamically simulated ARDL
Adil, Masudul Hasan; Hatekar, Neeraj R. - In: Cogent economics & finance 11 (2023) 1, pp. 1-20
The stable money demand function is a crucial policy tool of the monetary policy of any central bank, which links the monetary sector of an economy to its real sector. Notably, after the global financial crisis of 2007-08, the role of money has come to be envisaged as an essential issue while...
Persistent link: https://www.econbiz.de/10014500858
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Would the Bundesbank have prevented the Great Inflation in the United States?
Benati, Luca - 2009
Policy counterfactuals based on estimated structural VARs routinely suggest that bringing Alan Greenspan back in the 1970s’ United States would not have prevented the Great Inflation. We show that a standard policy counterfactual suggests that the Bundesbank–which is near-universally...
Persistent link: https://www.econbiz.de/10011605180