Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 25 for “"New Keynesian model"”.
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Endogenous Shocks in the New Keynesian Model
The New Keynesian literature has recently devoted considerable attention to endogenous shocks to the Phillips curve. One reason for such scrutiny is their ability to generate a meaningful tradeoff between inflation and the output gap without resorting to ad hoc exogenous shocks. Chapter 1 surveys …
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Empirical study of new Keynesian model using cointegrated VAR : what New Zealand data tell us
Econometric analysis of rational expectations models has been a widely studied topic in the macro-econometric literature. This thesis looks in particular at evaluating Neokeynesian model (NKM) with respect to its conformity with the data. Among the available econometric techniques, this thesis …
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A Re-Examination Of Money And Business Cycles
… dynamic stochastic general equilibrium (DSGE) models have become the predominant tool of modern macroeconomics and, in particular, monetary policy research. Generally speaking, the basic New Keynesian model is the standard framework for analysis. This framework uses optimizing agents and firms …
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Essays in monetary and fiscal policy
This thesis is composed by four chapters on New Keynesian macroeconomics. Chapter 1 develops a small New Keynesian model augmented with a steady state level of public debt and a share of rule-of-thumb consumers (ROTC henceforth) as in Galí et al. (2004; 2007). This chapter focuses on the …
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Three Essays on Monetary Policy Rules
… aspects of monetary policy rules using the New-Keynesian model. Chapter one discuss monetary policy rules that best achieves the goal of the inflation targeting framework, namely, price stability and output gap stabilization. Previous literature suggests that domestic inflation targeting is …
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Essays on optimal monetary policy under rule-of-thumb behaviour by price setters
… policy. We start with a canonical log-linearised New Keynesian model, which we extend by allowing a fraction of price setters to follow a rule-of-thumb when setting a new price. We consider different specifications for the rule-of-thumb. In all models, steady-state distortions are assumed to be …
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Essays on redistributive fiscal policies and macroeconomics
… of such policies. I construct a continuous-time New Keynesian model with heterogeneous overlapping generations which allows for arbitrary MPC heterogeneity. I characterize the output multipliers of fiscal transfers, and show that the role of MPCs is mainly to determine the timing of the fiscal …
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ESSAYS ON MONETARY POLICY
… in the empirically validated business cycle model of Smets and Wouters under commitment and discretion. Once the preferences do not coincide with each other, discretionary policies that target the price-level or the change in the output gap outperform the standard loss function. Chapter 2 …
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Fiscal and Monetary Policies and Stock Market
… rule to destabilize asset markets in the New Keynesian model. They show that money authority responds to future productivity news shock in the wrong way by using inflation forecasting targeting rule. In the first part of this study, I identify the stock market booms in the United States …
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El impacto de shocks contractivos de política monetaria en un modelo DSGE estimado con métodos bayesianos para Chile
El presente modelo corresponde a un New Keynesian Model DSGE estimado mediante métodos Bayesianos intentando explicar el impacto que presenta un shock contractivo de política monetaria sobre el ciclo real de la economía Chilena. Al igual que Gerali, A. et. Al. (2010), trabajo que utilizamos como …
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Essays in Monetary and Macroprudential Policies
… Using a medium scale general equilibrium New Keynesian business cycle model with macroprudential policy and news shocks I study the effectiveness of various combinations of the monetary and macroprudential policies. I incorporate defaults both in the banking sector and households. The …
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Essays in Monetary Policy and Growth
… the optimal policy prescribed by the textbook New Keynesian model in which firms are permitted to adjust their prices only randomly and exogenously. The key intuition is that stabilizing inflation causes shocks to spill over across sectors, needlessly increasing the number of firms that must …
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Three Essays On Monetary Policy In Economies With Financial Frictions
… develop Dynamic Stochastic General equilibrium models with financial frictions. In the first chapter, we develop a model to analytically determine the appropriate price index to target in the presence of financial frictions (where a fraction of households are constrained to consume their wage …
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Essays on the Monetary Policy Transmission Mechanism
… The first chapter, Credit Constraints in a New Keynesian Framework: A Simple Theoretical Analysis, studies how financial frictions alter equilibrium outcomes. I show that collateral borrowing constraints have general equilibrium effects that operate via four channels; borrowers' collateral …
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Essays in Macroeconomics and Heterogeneity
… of monetary policy through the lens of a New Keynesian model. The standard textbook New Keynesian model relies on counter-cyclical profits for monetary policy to have an effect as recently pointed out by Broer et al. (2020). This paper first tests this hypothesis by adding oligopolistic …
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Essays on Sovereign Default
… currency is likely to devalue. I construct a New Keynesian model with inflationary default risk, where governments trade off containing distortionary inflation via foreign currency debt with consumption insurance via local currency debt. The model indicates that inflationary default risk is …
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Essays on macroeconomics and risk premium
… for young and old entrepreneurs. We propose a model that captures both the life cycle patterns and limited idiosyncratic insurance observed in the Thai data. An expansion in idiosyncratic insurance will reduce the idiosyncratic risk premium, increasing the proportion of wealth invested in risky …
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Essays in Macroeconomics and Climate Change Mitigation
… policies using a multi-sector equilibrium model with intersectoral input–output linkages and worker heterogeneity calibrated to different countries. The introduction of carbon taxes leads to changes in relative prices and inputs reallocation, including labor. For the United States, reaching …
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Divisia Monetary Aggregates and Monetary Policy in a Small Open Economy
… using a recently developed micro founded DSGE model. I extend the New Keynesian model for a small open economy from the work of Faia and Monacelli in a similar manner to Belongia and Ireland by introducing private financial institutions, which create deposits as an imperfect substitute for …
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Essays in Macroeconomics
… price and wage-setting implications of monopsony models with nominal rigidities. I develop a New Keynesian model with wage posting and on-the-job search. I show how wage markdowns are related to the importance of hiring costs, and those are estimated to be an order of magnitude larger than …
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