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Taking Multi-Sector Dynamic General Equilibrium Models to the Data
Dixon, Huw; Kara, Engin - 2011
We estimate and compare two models, the Generalized Taylor Economy (GTE) and the Multiple Calvo model (MC); that have … to those of the standard models such as the Calvo and its popular variant, using the ad hoc device of indexation. The …
Persistent link: https://www.econbiz.de/10010500190
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Taking multi-sector dynamic general equilibrium models to the data
Dixon, Huw; Kara, Engin - 2011
We estimate and compare two models, the Generalized Taylor Economy (GTE) and the Multiple Calvo model (MC); that have … models ; Calvo ; Taylor ; price-setting … to those of the standard models such as the Calvo and its popular variant, using the ad hoc device of indexation. The …
Persistent link: https://www.econbiz.de/10009310938
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Monetary policy rules : model uncertainty meets design limits
Dück, Alexander; Verona, Fabio - 2023
Optimal monetary policy studies typically rely on a single structural model and identification of model-specific rules that minimize the unconditional volatilities of inflation and real activity. In our proposed approach, we take a large set of structural models and look for the model-robust...
Persistent link: https://www.econbiz.de/10014364060
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Asymmetric monetary policy rules for the euro area and the US
Maih, Junior; Mazelis, Falk; Motto, Roberto; … - 2021
We analyse the implications of asymmetric monetary policy rules by estimating Markovswitching DSGE models for the euro area (EA) and the US. The estimations show that until mid-2014 the ECB's response to inflation was more forceful when inflation was above 2% than below 2%. Since then, the ECB's...
Persistent link: https://www.econbiz.de/10012650006
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Asymmetric monetary policy rules for the euro area and the US
Maih, Junior; Mazelis, Falk; Motto, Roberto; … - 2021
We analyse the implications of asymmetric monetary policy rules by estimating Markovswitching DSGE models for the euro area (EA) and the US. The estimations show that until mid-2014 the ECB's response to in ation was more forceful when in ation was above 2% than below 2%. Since then, the ECB's...
Persistent link: https://www.econbiz.de/10012617047
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Generalized Taylor and generalized Calvo price and wagesetting: Micro evidence with macro implications
Dixon, Huw; Le Bihan, Hervé - 2011
The Generalized Calvo and the Generalized Taylor models of price and wage-setting are, unlike the standard Calvo and … Taylor counter-parts, exactly consistent with the distribution of durations observed in the data. Using price and wage micro … monetary policy transmission by embedding these calibrated models in a standard DSGE model. The Generalized Taylor model is …
Persistent link: https://www.econbiz.de/10010288804
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Taking multi-sector dynamic general equilibrium models to the data
Dixon, Huw; Kara, Engin - 2012
We estimate and compare two models, the Generalized Taylor Economy (GTE) and the Multiple Calvo model (MC), that have … to those of the standard models such as the Calvo and its popular variant, using the ad hoc device of indexation. The …
Persistent link: https://www.econbiz.de/10010288832
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Taking Multi-Sector Dynamic General Equilibrium Models to the Data
Dixon, Huw; Kara, Engin - İktisat Bölümü, İktisadi ve İdari Bilimler Fakültesi - 2011
We estimate and compare two models, the Generalized Taylor Economy (GTE) and the Multiple Calvo model (MC); that have … to those of the standard models such as the Calvo and its popular variant, using the ad hoc device of indexation. The …
Persistent link: https://www.econbiz.de/10009327804
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Taking Multi-Sector Dynamic General Equilibrium Models to the Data
Dixon, Huw David; Kara, Engin - Economics Section, Cardiff Business School - 2012
We estimate and compare two models, the Generalized Taylor Economy (GTE) and the Multiple Calvo model (MC), that have … to those of the standard models such as the Calvo and its popular variant, using the ad hoc device of indexation. The …
Persistent link: https://www.econbiz.de/10010799037
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Taking Multi-Sector Dynamic General Equilibrium Models to the Data
Dixon, Huw; Kara, Engin - School of Economics, Finance and Management, University … - 2011
We estimate and compare two models, the Generalized Taylor Economy (GTE) and the Multiple Calvo model (MC) that have … to those of the standard models such as the Calvo and its popular variant, using the ad hoc device of indexation. The …
Persistent link: https://www.econbiz.de/10009145764