Interest rate effects of demographic changes in a New-Keynesian life-cycle framework [PDF]
This paper develops a small-scale DSGE model which embeds a demographic structure within a monetary policy framework. We extend the tractable, though non-monetary overlapping-generations model of Gertler (1999) and present a small synthesis model which ...
Kara, Engin, von Thadden, Leopold
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Moment matching versus Bayesian estimation: Backward-looking behaviour in the new-Keynesian three-equations model [PDF]
The paper considers an elementary New-Keynesian three-equations model and contrasts its Bayesian estimation with the results from the method of moments (MM), which seeks to match the model-generated second moments of inflation, output and the interest ...
Franke, Reiner +2 more
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Unemployment, Job Flows and Hours in a New Keynesian Model [PDF]
New Keynesian models attempt to account for economic fluctuations under nominal rigidities without modelling unemployment. They struggle to generate observed output and inflation persistence.
Richard Holt
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A Dynamic, Keynesian Model of Development [PDF]
The Harrod-Domar growth model is extended in a way that introduces the possibility of persistent excess capacity as a potential source of slow growth. This extended model has five growth rates, which must be equal for there to be a full-employment, full ...
Michael P. Shields, Richard Grabowski
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Nexus between financial integration, capital market development and economic performance: Does institutional structure matters? [PDF]
Heliyon, 2023 Iheanacho E, Okere KI, Onoh JO.
europepmc +1 more source
Agent-based financial markets and New Keynesian macroeconomics: A synthesis [PDF]
We combine a simple agent-based model of financial markets with a standard New Keynesian macroeconomic model via two straightforward channels. The result is a macroeconomic model that allows for the endogenous development of stock price bubbles.
Lengnick, Matthias +1 more
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The new Keynesian Phillips curve: empirical results for Luxembourg [PDF]
The New Keynesian Phillips curve (NPC) differs from the conventional expectations-augmented Phillips curve in that it is forward-looking and links inflation to a measure of marginal cost instead of unemployment or the output gap.
Ieva Rubene, Paolo Guarda
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Identifying the New Keynesian Phillips Curve [PDF]
Phillips curves are central to discussions of inflation dynamics and monetary policy. New Keynesian Phillips curves describe how past inflation, expected future inflation, and a measure of real marginal cost or an output gap drive the current inflation ...
Gregor W. Smith, James M. Nason
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Learning increases growth and reduces inequality in shared noisy environments. [PDF]
PNAS Nexus, 2023 Kemp JT, Bettencourt LMA.
europepmc +1 more source
Perfect Competition and the Keynesian Cross:Revisiting Tobin [PDF]
I look at an exogenous decrease in the desire to save in a two-sector-two-period overlapping generations model, where the consumption good is capital-intensive and the elasticities of substitution in production are "small".
Partha Sen
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