Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty

• Main Author: Kranz, Tobias (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Wiesbaden : Springer Fachmedien Wiesbaden : Imprint: Springer Gabler, 2017.
• Series: BestMasters
• Subjects: Economic theory.; Macroeconomics.; Economics.; Macroeconomics/Monetary Economics//Financial Economics.; Economic Theory/Quantitative Economics/Mathematical Methods.

The book introduces the New Keynesian framework, historically through a literature overview and through a step-by-step derivation of a New Keynesian Phillips curve, an intertemporal IS curve, and a targeting rule for the central bank. This basic version is then expanded by introducing cost and deman...

Table of Contents:

• Historical recapitulation of DSGE Modeling
• Derivation of a basic New Keynesian Model
• Augmentation with persistent shocks and uncertainty
• Comparative statics and a wide range of numerical simulations
• Mathematical concepts and background information in the appendix.