Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty

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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 ...
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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 ...
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  • Formats: pdf
  • ISBN: 9783658156398
  • Publication Date: 27 Sept 2016
  • Publisher: Springer Fachmedien Wiesbaden
  • Product language: English
  • Drm Setting: DRM