Persistent stochastic shocks in a new Keynesian model with uncertainty / Tobias Kranz.
2017
HB99.7 .K73 2017
Linked e-resources
Linked Resource
Online Access
Concurrent users
Unlimited
Authorized users
Authorized users
Document Delivery Supplied
Can lend chapters, not whole ebooks
Details
Title
Persistent stochastic shocks in a new Keynesian model with uncertainty / Tobias Kranz.
Author
Kranz, Tobias, author.
ISBN
9783658156398 (electronic book)
3658156392 (electronic book)
9783658156381
3658156384
3658156392 (electronic book)
9783658156381
3658156384
Published
Wiesbaden, Germany : Springer Gabler, [2017]
Copyright
©2017
Language
English
Description
1 online resource (xiii, 72 pages) : illustrations.
Item Number
10.1007/978-3-658-15639-8 doi
Call Number
HB99.7 .K73 2017
Dewey Decimal Classification
330.15/6
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. Contents · Historical recapitulation of DSGE Modeling · Derivation of a basic New Keynesian Model · Augmentation with persistent shocks and uncertainty · Comparative statics and a wide range of numerical simulations · Mathematical concepts and background information in the appendix Target Groups · Researchers and graduate students in macroeconomics and monetary policy · Managers and practitioners in the fields of monetary economics The Author Tobias Kranz obtained his Master of Science degree in Economics at the University of Trier in 2015. He has been working as postgraduate at the chair of Empirical Economics (University of Trier) since 2016.
Bibliography, etc. Note
Includes bibliographical references.
Access Note
Access limited to authorized users.
Source of Description
Online resource; title from PDF title page (viewed March 28, 2017).
Series
BestMasters.
Linked Resources
Online Access
Record Appears in
Online Resources > Ebooks
All Resources
All Resources
Table of Contents
Historical recapitulation of DSGE Modeling
Derivation of a basic New Keynesian Model
Augmentation with persistent shocks and uncertainty
Comparative statics and a wide range of numerical simulations
Mathematical concepts and background information in the appendix.
Derivation of a basic New Keynesian Model
Augmentation with persistent shocks and uncertainty
Comparative statics and a wide range of numerical simulations
Mathematical concepts and background information in the appendix.