- Autor
- Poutineau Jean-Christophe (Université de Rennes, France), Sobczak Karolina (Poznań University of Economics), Vermandel Gauthier (Université de Rennes, France)
- Tytuł
- The Analytics of the New Keynesian 3-equation Model
- Źródło
- Economics and Business Review, 2015, vol. 1 (15), nr 2, s. 110-129, rys., tab., bibliogr. 19 poz.
- Słowa kluczowe
- Neokeynesizm, Gospodarka, Modele wielorównaniowe
Neokeynesian, Economy, Multi-equation models - Uwagi
- summ.
- Abstrakt
- This paper aims at providing a self contained presentation of the ideas and solution procedure of New Keynesian Macroeconomics models. Using the benchmark "3 equation model", we introduce the reader to an intuitive, static version of the model before incorporating more technical aspects associated with the dynamic nature of the model. We then discuss the relative contribution of supply, demand and policy shocks to the fluctuations of activity, inflation and interest rate, depending on the key underlying parameters of the economy.(original abstract)
- Dostępne w
- Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka SGH im. Profesora Andrzeja Grodka
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu - Pełny tekst
- Pokaż
- Bibliografia
-
- Baranowski, P., Gałecka-Burdziak, E., Górajski, M., Malaczewski, M., Szafrański G., 2013, Inflacja a mechanizmy aktualizacji cen. Studium dla Polski, Łódź, Wydawnictwo Uniwersytetu Łódzkiego, Wydawnictwo Naukowe PWN.
- Blanchard, O., Kahn, C.M., 1980, The Solution of Linear Difference Models under Rational Expectations, Econometrica, vol. 48, no. 5: 1305-1311.
- Bludnik, I., 2009, The New Keynesianism - Proclamation of a Consensus?, Poznań University of Economics Review, vol. 9, no. 1: 5-24.
- Bofinger, P., Mayer, E., Wollmershäuser, T., 2006, The BMW Model: A New Framework for Teaching Monetary Economics, Journal of Economic Education, vol. 37, no. 1: 98-117.
- Carlin, W., Soskice, D., 2014, Macroeconomics: Institutions, Instability, and the Financial System, Oxford University Press.
- Clarida, R., Galí, J., Gertler, M., 1999, The Science of Monetary Policy: A New Keynesian Perspective, Journal of Economic Literature, vol. 37, no. 4: 1661-1707.
- Galí, J., 2008, Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, Princeton.
- Galí, J., Gertler, M., López-Salido D., 2001, European Inflation Dynamics, European Economic Review, vol. 45, no. 7: 1237-1270.
- Goodfriend, M., King, R., 1997, The New Neoclassical Synthesis and the Role of Monetary Policy, NBER Macroeconomics Annual, vol. 12: 231-296.
- Klein P., 2000, Using the Generalized Schur Form to Solve a Multivariate Linear Rational Expectations Model, Journal of Economic Dynamics and Control 24(10), September: 1405-1423.
- Miao, J., 2014, Economic Dynamics in Discrete Time, MIT Press.
- Poutineau, J.C., Vermandel, G., 2015a, Cross-border Banking Flows Spillovers in the Eurozone: Evidence from an Estimated DSGE Model, Journal of Economic Dynamics and Control, no. 2: 378-403.
- Poutineau, J.C., Vermandel, G., 2015b, A Primer on Macroprudential Policy, The Journal of Economic Education, forthcoming.
- Romer, D., 1993, The New Keynesian Synthesis, Journal of Economic Perspectives, vol. 7, no. 1: 5-22.
- Sbordone, A.M., 2002, Prices and Unit Labor Costs: Testing Models of Pricing Behavior, Journal of Monetary Economics, vol. 45, no. 2: 265-292.
- Sims, C., 2000, Solving Linear Rational Expectation Models, Working Paper, Department of Economics, Princeton University.
- Smets, F., Wouters, R., 2005, Comparing Shocks and Frictions in US and Euro Area Business Cycles: a Bayesian DSGE Approach, Journal of Applied Econometrics, 20(1).
- Taylor, J. B., 1999, A Historical Analysis of Monetary Policy Rules, in: Taylor, J.B. (ed.), Monetary Policy Rules, University of Chicago Press , Chicago.
- Woodford, M, 2003, Interest and Prices: Foundations of a Theory of Monetary Policy, Princeton University Press, Princeton.
- Cytowane przez
- ISSN
- 2392-1641
- Język
- eng
- URI / DOI
- http://dx.doi.org/10.18559/ebr.2015.2.6
