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Chapter 25. The Staying Power of Staggered Wage and Price Setting Models in Macroeconomics

Taylor, J.B. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 2009-2042). 2016

After many years, many critiques, and many variations, the staggered wage and price setting model is still the most common method of incorporating nominal rigidities into empirical macroeconomic models used for policy analysis. The aim of this chapter is to examine and reassess the staggered...

Persistent link: https://www.econbiz.de/10014024272

Some unconventional properties of New Keynesian DSGE Models

Heijdra, Ben J.; Kwaak, Christiaan van der - In: De economist : quarterly review of the Royal … 171 (2023) 2, pp. 139-183

Persistent link: https://www.econbiz.de/10014314646

Ambiguous business cycles, recessions and uncertainty : a quantitative analysis

Piccillo, Giulia; Poonpakdee, Poramapa - 2023

This paper investigates the effects of uncertainty on the macro economy by replicating its micro effects on individual subjective beliefs. In our model, the representative household has smooth ambiguity preferences and is uncertain about which scenario the economy will be in the next period:...

Persistent link: https://www.econbiz.de/10014364652

Expectation shocks and business cycles

Memon, Sonan - 2023

Persistent link: https://www.econbiz.de/10014320137

On the significance of quality-of-capital news shocks

Herrera, Luis; Vázquez, Jesús - In: Economic modelling 124 (2023), pp. 1-14

Persistent link: https://www.econbiz.de/10014463173

Price-setting heterogeneity and robust monetary policy in a two-sector DSGE model of a small open economy

Górajski, Mariusz; Kuchta, Zbigniew; … - In: Economic modelling 122 (2023), pp. 1-20

Persistent link: https://www.econbiz.de/10014388635

Brazilian macroeconomic dynamics redux : shocks, frictions, and unemployment in SAMBA model

Fasolo, Angelo Marsiglia; Araujo, Eurilton; Jorge, … - In: Latin American journal of central banking : LAJCB 5 (2024) 2, pp. 1-36

This paper documents the recent changes in the structure and estimation procedures of the SAMBA model, providing a complete description of the decision problems that each economic agent faces, the first order conditions that solve those problems, and the new techniques employed to estimate the...

Persistent link: https://www.econbiz.de/10015055215

Ambiguous Business Cycles

Ilut, Cosmin L. - 2012

using first-order approximations. In our estimated medium-scale DSGE model, a loss of confidence about productivity works …

Persistent link: https://www.econbiz.de/10013109445

Ambiguous Business Cycles

Ilut, Cosmin L. - 2012

using first-order approximations. In our estimated medium-scale DSGE model, a loss of confi dence about productivity works …

Persistent link: https://www.econbiz.de/10013111852

Supply, Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model

Dees, Stephane - 2013

This paper estimates and solves a multi-country version of the standard DSGE New Keynesian (NK) model. The country … restrictions implied by the NK theory. The multi-country DSGE NK model is then solved to provide estimates of identified supply … through error spillover effects. Bootstrapped error bands are also provided for the cross country responses of a shock to the …

Persistent link: https://www.econbiz.de/10013094653