کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
968403 931540 2007 24 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Monetary policy in the New-Keynesian model: An application to the Euro Area
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Monetary policy in the New-Keynesian model: An application to the Euro Area
چکیده انگلیسی

This paper analyzes monetary policy in a stylized New-Keynesian model. A number of issues are focused upon: (i) optimal monetary policy under commitment or discretion versus ad-hoc monetary policy based on simple rules, (ii) the effects of fiscal policies and foreign variables on monetary policy, (iii) the effects of fiscal deficit and interest rate smoothing objectives and the role of forward-backward linkages in the model. The model is estimated for the Euro Area. Using simulations of the estimated model, it is analyzed how these aspects might affect monetary policy of the ECB and macroeconomic fluctuations in the Euro Area.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Policy Modeling - Volume 29, Issue 6, November–December 2007, Pages 879–902
نویسندگان
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