Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5059598 | Economics Letters | 2013 | 4 Pages |
Abstract
This paper shows that the empirically documented disinflationary nature of news shocks is consistent with the implications of a sensibly modified version of a New Keynesian model, even if capital is introduced to the model. The modification proposed in the current paper, however, is different from those already known in the literature. In the presence of capital, the newly proposed modification is better capable of fitting the data.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Ryo Jinnai,