کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7383202 1480431 2018 48 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Price puzzle in a small open New Keynesian model
ترجمه فارسی عنوان
پازل قیمت در یک مدل کینزی کوچک باز
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
Some recent studies have highlighted the role of exchange rate pass-through in resolving the price puzzle. In this paper, based on both closed form solution and calibration of a dynamic stochastic general equilibrium (DSGE) model, we show that even if the exchange rate pass-through was not present, factors such as (i) a sufficiently high degree of openness of the economy, (ii) the cost of price adjustment, (iii) a high interest rate elasticity of aggregate demand, or (iv) an anticipated monetary shock (i.e., the news shock) can solve the price puzzle. Furthermore, we show that our main results continue to hold in the case of both a simple Taylor rule as well as a combination of monetary policy regimes.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Quarterly Review of Economics and Finance - Volume 69, August 2018, Pages 29-42
نویسندگان
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