Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty is popular PDF and ePub book, written by Tobias Kranz in 2016-09-27, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty can be Read Online from any device for your convenience.
Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty Book PDF Summary
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.
Detail Book of Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty PDF
- Author : Tobias Kranz
- Release : 27 September 2016
- Publisher : Springer
- ISBN : 9783658156398
- Genre : Business & Economics
- Total Page : 81 pages
- Language : English
- PDF File Size : 20,8 Mb
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