کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5099524 | 1377013 | 2008 | 47 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Limited participation and exchange rate dynamics: Does theory meet the data?
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
کنترل و بهینه سازی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Limited participation and exchange rate dynamics: Does theory meet the data? Limited participation and exchange rate dynamics: Does theory meet the data?](/preview/png/5099524.png)
چکیده انگلیسی
The paper explores the empirical dimensions of a New Open Economy Macronomy model characterized by credit market frictions. We find that these frictions are essential for the model to match a large set of moments of German data. Moreover, the simulated impulse response functions to supply and nominal shocks are consistent with VAR findings. Since the model is estimated on moments rather than on conditional IRFs, this underlines the ability of the model to match the data. Finally, monetary shocks do not seem to be the primary driving force behind the aggregate dynamics, which is consistent with the VAR literature.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 32, Issue 4, April 2008, Pages 1041-1087
Journal: Journal of Economic Dynamics and Control - Volume 32, Issue 4, April 2008, Pages 1041-1087
نویسندگان
Frédéric Karamé, Lise Patureau, Thepthida Sopraseuth,