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Heterogeneity in Wage Setting Behavior in a New-Keynesian Model
Eijffinger, Sylvester; Uras, Burak R.; Grajales Olarte, A. - Tilburg University, Center for Economic Research - 2015
In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent … heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with … study, Coibion and Gorodnichenko (2011) develop a DSGE model, in which firms follow four different types of price setting …
Persistent link: https://www.econbiz.de/10011220495
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Heterogeneity in wage setting behavior in a New-Keynesian Model
Eijffinger, Sylvester C. W.; Grajales Olarte, Anderson; … - 2015
Persistent link: https://www.econbiz.de/10011350047
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Heterogeneity in wage setting behavior in a New-Keynesian model
Eijffinger, Sylvester C. W.; Grajales-Olarte, Anderson; … - In: Macroeconomic dynamics 24 (2020) 6, pp. 1512-1546
Persistent link: https://www.econbiz.de/10012307288
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Euro area inflation persistence in an estimated nonlinear DSGE model
Amisano, Gianni; Tristani, Oreste - 2007
We estimate the approximate nonlinear solution of a small DSGE model on euro area data, using the conditional particle filter to compute the model likelihood. Our results are consistent with previous findings, based on simulated data, suggesting that this approach delivers sharper inference...
Persistent link: https://www.econbiz.de/10011604800
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Measures of Potential Output from an Estimated DSGE Model of the United States
Juillard, Michel; Kamenik, Ondrej; Kumhof, Michael; … - Česká Národní Banka - 2006
This paper develops a DSGE model for the United States that features rational inflation inertia and persistence. The model is estimated with Bayesian-estimation techniques and time-varying inflation objectives to account for movements between regimes. After showing that the model produces...
Persistent link: https://www.econbiz.de/10005765483
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Euro Area Inflation Persistence in an Estimated Nonlinear DSGE Model
Amisano, Giovanni; Tristani, Oreste - C.E.P.R. Discussion Papers - 2007
We estimate the approximate nonlinear solution of a small DSGE model on euro area data, using the conditional particle filter to compute the model likelihood. Our results are consistent with previous findings, based on simulated data, suggesting that this approach delivers sharper inference...
Persistent link: https://www.econbiz.de/10005067383
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Euro Area Inflation Persistence in an Estimated Nonlinear DSGE Model
Amisano, Gianni; Tristani, Oreste - Rimini Centre for Economic Analysis (RCEA) - 2007
We estimate the approximate nonlinear solution of a small DSGE model on euro area data, using the conditional particle filter to compute the model likelihood. Our results are consistent with previous findings, based on simulated data, suggesting that this approach delivers sharper inference...
Persistent link: https://www.econbiz.de/10005091100
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Heterogeneity in Wage Setting Behavior in a New-Keynesian Model
Eijffinger, Sylvester C. W. - 2015
In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent … heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with … study, Coibion and Gorodnichenko (2011) develop a DSGE model, in which firms follow four different types of price setting …
Persistent link: https://www.econbiz.de/10013025085
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Heterogeneous households in a sticky-price model
Lee, Jae Won - 2009
This paper introduces heterogeneous households into an otherwise standard sticky-price model with industry …-specific labor markets. Households differ in labor incomes and asset markets are incomplete. I show that household heterogeneity … affects equilibrium dynamics nontrivially by amplifying price stickiness endogenously through wealth effects on labor supply …
Persistent link: https://www.econbiz.de/10010282838
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Labor market frictions and monetary policy design
Almosova, Anna - 2016
This paper estimates a New Keynesian DSGE model with search frictions and monetary rules augmented with different labor market indicators. In accordance with a theoretical literature I find that a central bank reacts to a labor market tightness, employment or unemployment. Posterior odds tests...
Persistent link: https://www.econbiz.de/10011572127