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Is increased price flexibility stabilizing? : redux
Bhattarai, Saroj; Eggertsson, Gauti B.; Schoenle, Raphael - 2012
We study the implications of increased price flexibility on aggregate output volatility in a dynamic stochastic general … flexibility ; aggregate volatility ; systematic monetary policy ; DSGE model ; Bayesian estimation … effect of demand shocks on output if interest rates do not respond strongly to infl ation, while higher flexibility amplifies …
Persistent link: https://www.econbiz.de/10009521652
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Is increased price flexibility stabilizing? : redux
Bhattarai, Saroj; Eggertsson, Gauti B.; Schoenle, Raphael - 2014
Persistent link: https://www.econbiz.de/10010254378
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Why does the cyclical behavior of real wages change over time?
Huang, Kevin X. D.; Liu, Zheng; Phaneuf, Louis - In: The American economic review 94 (2004) 4, pp. 836-856
Persistent link: https://www.econbiz.de/10002381952
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Why does the cyclical behavior of real wages change over time?
Huang, Kevin X. D. (contributor); Liu, Zheng (contributor);  … - 2002 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001801030
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Smoothing the stocks of a dynamic stochastic general equilibrium model
Bauer, Andrew; Haltom, Nicholas; Rubio-Ramírez, Juan … - In: Economic review 90 (2005) 2, pp. 35-47
Persistent link: https://www.econbiz.de/10003033305
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Firm-Specific Capital, Nominal Rigidities and the Business Cycle
Altig, David - 2009
Macroeconomic and microeconomic data paint conflicting pictures of price behavior. Macroeconomic data suggest that inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which resolves this apparent micro - macro conflict. Our...
Persistent link: https://www.econbiz.de/10012721840
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Firm-Specific Capital, Nominal Rigidities and the Business Cycle
Altig, David; Christiano, Lawrence J.; Lindé, Jesper; … - 2021
Macroeconomic and microeconomic data paint conflicting pictures of price behavior. Macroeconomic data suggest that inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which resolves this apparent micro - macro conflict. Our...
Persistent link: https://www.econbiz.de/10013245531
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Firm-Specific Capital, Nominal Rigidities and the Business Cycle
Altig, David - 2005
Macroeconomic and microeconomic data paint conflicting pictures of price behavior. Macroeconomic data suggest that inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which resolves this apparent micro - macro conflict. Our...
Persistent link: https://www.econbiz.de/10012467653
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Firm-Specific Capital, Nominal Rigidities and the Business Cycle
Altig, David; Christiano, Lawrence J.; Lindé, Jesper - 2010
This paper formulates and estimates a three-shock US business cycle model. The estimated model accounts for a substantial fraction of the cyclical variation in output and is consistent with the observed inertia in inflation. This is true even though firms in the model reoptimize prices on...
Persistent link: https://www.econbiz.de/10014197143
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On the design and estimation of optimal monetary policy in an economy with nominal rigidities
Givens, Gregory E. - 2005
Persistent link: https://www.econbiz.de/10003908803