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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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Calibrating the Equilibrium Condition of a New Keynesian Model with Uncertainty
Kranz, Tobias - In: Review of Economics 68 (2017) 2, pp. 117-151
Abstract: This paper presents a theoretical analysis of the simulated impact of uncertainty in a New Keynesian model …. In order to incorporate uncertainty, the basic three-equation framework is modified by higher-order approximation … shock, I find interest rates in the version with uncertainty to be lower in contrast to the case under certainty.  …
Persistent link: https://www.econbiz.de/10014619347
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Uncovered interest parity with foreign exchange interventions under exchange rate peg and inflation targeting: The case of Ukraine
Grui, Anton - 2020
In this study, I modify the uncovered interest parity condition to account for foreign exchange interventions in the context of a small open economy. This is done in a framework of a semistructural New Keynesian model. I examine the case of Ukraine, which de facto transitioned to inflation...
Persistent link: https://www.econbiz.de/10012429367
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Testing the monetary policy rule in the US : a reconsideration of the Fed's behaviour
Minford, Patrick; Ou, Zhirong - 2009
Keynesian model ; the "target rule" ; Taylor-type rules ; Bootstrap simulation ; VAR ; Indirect inference ; Wald statistic …
Persistent link: https://www.econbiz.de/10003882196
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The New Keynesian approach to dynamic general equilibrium modeling : models, methods, and macroeconomic policy evaluation
Schmidt, Sebastian; Wieland, Volker - 2012
whether particular policy recommendations are robust to model uncertainty. Such robustness analysis is illustrated by …
Persistent link: https://www.econbiz.de/10010391304
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Lumpy Investment and Monetary Policy : A Comparative Analysis in a DSGE New-Keynesian Framework
Coco, Alberto - 2014
This paper analyses the theoretical and policy implications of assuming firm-specific lumpy investment behaviour by firms and compares such implications to those occurring when adopting different investment specifications in a new-Keynesian framework. We develop numerical simulations of the...
Persistent link: https://www.econbiz.de/10013059715
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Uncovered interest parity with foreign exchange interventions under exchange rate peg and inflation targeting : the case of Ukraine
Grui, Anton - 2020
In this study, I modify the uncovered interest parity condition to account for foreign exchange interventions in the context of a small open economy. This is done in a framework of a semistructural New Keynesian model. I examine the case of Ukraine, which de facto transitioned to inflation...
Persistent link: https://www.econbiz.de/10012262254
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Chapter 22. The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods and Macroeconomic Policy Evaluation
Schmidt, Sebastian; Wieland, Volker - In: Handbook of computable general equilibrium modeling : …, (pp. 1439-1512). 2013
whether particular policy recommendations are robust to model uncertainty. Such robustness analysis is illustrated by …
Persistent link: https://www.econbiz.de/10014025269
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Testing the Monetary Policy Rule in the US: a Reconsideration of the Fed’s Behaviour
Minford, Patrick; Ou, Zhirong - C.E.P.R. Discussion Papers - 2009
We calibrate a standard New Keynesian model with three alternative representations of monetary policy- an optimal timeless rule, a Taylor rule and another with interest rate smoothing- with the aim of testing which if any can match the data according to the method of indirect inference. We find...
Persistent link: https://www.econbiz.de/10008491715