You might also like

More about Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty

• Book details
• Synopsis
• Trending among others

You get 154 loyalty points

Book synopsis

The book introduces the New Keynesian framework, historically through a literature overview and through a step-by-step derivation of a New Keynesian Phillips curve, an intertemporal IS curve, and a targeting rule for the central bank. This basic version is then expanded by introducing cost and demand shocks and uncertainty. The latter enters the model via second order Taylor approximation instead of linearization. Bringing all equations together results in an equilibrium condition which is simulated with a wide range of parameter values, including possible crisis scenarios. The author finds that accounting for uncertainty - regarding growth and inflation expectations - can lead to lower nominal interest rates set by the central bank.

Book details

Book category Books in English Economics, finance, business & management Economics Economic theory & philosophy

• Full title: Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty
• Author: Tobias Kranz
• Language: English
• Binding: Paperback
• Number of pages: 72
• EAN: 9783658156381
• ISBN: 3658156384
• ID: 14115128
• Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
• Weight: 1258 g
• Dimensions: 210 × 148 × 8 mm
• Date of publishing: 27. September 2016

Trending among others

---

---

---