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New Keynesian DSGE Model

Indeterminate Equilibria in New Keynesian DSGE Model: An Application to the US Great Moderation

Indeterminate Equilibria in New Keynesian DSGE Model: An Application to the US Great Moderation

... simulating model based impulse response functions for the both pre- Volcker period and post 1982 ...standard New Keynesian DSGE Model explicitly, we find that while post 1982 policy ...

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An Algorithm for Solving Simple Sticky Information New Keynesian DSGE Model

An Algorithm for Solving Simple Sticky Information New Keynesian DSGE Model

... price New Keynesian DSGE model is the work horse of modern monetary policy ...the model suffers from several criticisms as identified by Mankiw and Reis ...the model fails to ...

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Assessing the Impacts of Non-Ricardian Households in an Estimated New Keynesian DSGE Model

Assessing the Impacts of Non-Ricardian Households in an Estimated New Keynesian DSGE Model

... sticky-price model with deficit financing by incorporating optimizing and rule-of-thumb ...calibrated model can account for the government spending shock impact on private ...Wouters model and ...

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Zero interest rate policy and asymmetric price adjustment in Japan: an empirical analysis of a nonlinear DSGE model

Zero interest rate policy and asymmetric price adjustment in Japan: an empirical analysis of a nonlinear DSGE model

... standard New Keynesian DSGE model on explaining the unique experi- ence of Japanese economy over the last three ...the model, the projection method is employed in solving the ...the ...

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Financial Vulnerability and Stabilization Policy in Commodity Exporting Emerging Economies

Financial Vulnerability and Stabilization Policy in Commodity Exporting Emerging Economies

... a new Keynesian DSGE model compatible with the structural characteristics of commodity exporting developing economies (financial vulnerability, relatively high pass-through rates, procyclical ...

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Predictive performance of DSGE model for small open economy – the case study of Czech Republic

Predictive performance of DSGE model for small open economy – the case study of Czech Republic

... a model that reached a quality prediction performance for all the ...economy New Keynesian DSGE model for the Czech republic, where Bayesian method are used for their parameters ...

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Estimation of the Basic New Keynesian Model for the Economy of Romania

Estimation of the Basic New Keynesian Model for the Economy of Romania

... of DSGE models stands the Real Business Cycle (RBC) model which derives aggregate relations for the economy from the optimizing decisions of the individual ...of DSGE models lies in the ability to ...

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Macroeconomic fluctuations in a New Keynesian disequilibrium model

Macroeconomic fluctuations in a New Keynesian disequilibrium model

... our model even in case of simula- tions of only small shocks and that the regime shocks change the adjustment dynam- ics in significant ...disequilibrium model with regime switches behaves in an ...

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Dynamics of Sticky Information and Sticky Price Models in a New Keynesian DSGE Framework

Dynamics of Sticky Information and Sticky Price Models in a New Keynesian DSGE Framework

... a New Keynesian dynamic stochastic general equilibrium (DSGE) model, which includes an IS equation and a Taylor-type policy rule for monetary ...information model produces more ...

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Markups and Entry in a DSGE Model

Markups and Entry in a DSGE Model

... With = 0; an increase in the number of producers raises the real price of each variety and the more so the lower the elasticity of substitution . This e¤ect is dampened with > 0: Combining the two equations above and ...

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The Effect of Exchange Rate, Oil Prices and Global Inflation Shocks on Macroeconomic Variables for the Iranian Economy in the form of a DSGE Model

The Effect of Exchange Rate, Oil Prices and Global Inflation Shocks on Macroeconomic Variables for the Iranian Economy in the form of a DSGE Model

... he world economy has experienced a bulk of positive and negative shocks in crude oil prices and exchange rates over the years, and that global inflation has undergone some changes. Such shocks have affected the ...

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A New Keynesian Model with Estimated Shadow Rate for Japan Economy

A New Keynesian Model with Estimated Shadow Rate for Japan Economy

... not new and for a long time, it is not widely used in ...a new perspective to check the unconventional monetary policy of ...the DSGE framework is a new ...NK-DSGE model are ...

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Three essays on monetary policy analysis in Mongolia

Three essays on monetary policy analysis in Mongolia

... This paper estimates the reaction function of the Bank of Mongolia using a Bayesian approach by estimating the New Keynesian dynamic stochastic·general equilibrium DSGE model of a small [r] ...

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Beyond the DSGE straitjacket

Beyond the DSGE straitjacket

... expectations. New Keynesian variants will also allow for some frictions in adjust- ...the new Keynesian DSGE models, for having sacri…ced their theoretical coherence in an attempt to …t ...

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A New Keynesian model of the yield curve with learning dynamics: A Bayesian evaluation

A New Keynesian model of the yield curve with learning dynamics: A Bayesian evaluation

... (VAR) model including both latent factors and observable macroeconomic variables (see Ang and Piazzesi ...linearized New- Keynesian models, as in Hördahl, Tristani, and Vestin (2006) and Rudebusch ...

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How applicable are the new keynesian DSGE models to a typical low income economy?

How applicable are the new keynesian DSGE models to a typical low income economy?

... the DSGE models, economists continue to introduce di¤erent ...the New Keynesian assumptions of imperfect competition where economic agents have some form of market power in input and output markets ...

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Autoregression Based Estimation of the New Keynesian Phillips Curve

Autoregression Based Estimation of the New Keynesian Phillips Curve

... Autoregression-Based Estimation of the New Keynesian Phillips Curve* Abstract We propose an estimation method of the new Keynesian Phillips curve NKPC based on a univariate noncausal aut[r] ...

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Instability in the basic New Keynesian model under limited information

Instability in the basic New Keynesian model under limited information

... basic New Keynesian model has been proposed, among other authors, by Woodford (2001a, 2003), Gali (2008b), De Grauwe ...This model is one of the contemporary mainstream macro models. In ...

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Estimating the New Keynesian Model by Bootstrap Method for Johor Economy Tourism

Estimating the New Keynesian Model by Bootstrap Method for Johor Economy Tourism

... of Keynesian Model (KM) is exposed to large error value as well as wide confidence intervals, which may affect the accuracy of the ...with Keynesian Model to obtain accu- rate estimation ...

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The employment distribution and the creation of financial dependence

The employment distribution and the creation of financial dependence

... A fall in national income has varied consequences for the working population: some carry on working as normal, others become unemployed. Those excluded from work lose their main income source and must usually rely on ...

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