کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5099447 | 1377008 | 2008 | 23 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The new Keynesian monetary model: Does it show the comovement between GDP and inflation in the U.S.?
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
کنترل و بهینه سازی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: The new Keynesian monetary model: Does it show the comovement between GDP and inflation in the U.S.? The new Keynesian monetary model: Does it show the comovement between GDP and inflation in the U.S.?](/preview/png/5099447.png)
چکیده انگلیسی
This paper analyzes the performance of alternative versions of the new Keynesian monetary (NKM) model in replicating the comovement observed between output and inflation. Following Den Haan [2000. The comovement between output and prices. Journal of Monetary Economics 46, 3-30], we analyze comovement by computing the correlations of VAR forecast errors of the two variables at different forecast horizons. The empirical correlation is negative and marginally significant for the one-ahead forecast horizon, but the correlations are non-significant for the other forecast horizons studied. In contrast, a simple NKM model under a standard parameterization provides a high and significant negative comovement at all forecast horizons. However, a generalized version including habit formation and a forward-looking Taylor rule is able to mimic the observed weak comovement at medium- and long-term forecast horizons.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 32, Issue 5, May 2008, Pages 1466-1488
Journal: Journal of Economic Dynamics and Control - Volume 32, Issue 5, May 2008, Pages 1466-1488
نویسندگان
Ramón MarÃa-Dolores, Jesús Vázquez,