scholarly journals Comparing New Keynesian Models in the Euro Area: A Bayesian Approach

2003 ◽  
Author(s):  
Pau Rabanal ◽  
Juan Francisco Rubio-Ramirez
Keyword(s):  
Euro Area ◽  
Bayesian Approach ◽  
New Keynesian ◽  
New Keynesian Models

scholarly journals Comparing new Keynesian models in the Euro area: a Bayesian approach

2007 ◽  
Vol 10 (1) ◽  
pp. 23-40 ◽  
Author(s):  
Pau Rabanal ◽  
Juan F. Rubio-Ramírez
Keyword(s):  
Euro Area ◽  
Bayesian Approach ◽  
New Keynesian ◽  
New Keynesian Models

scholarly journals Asset Returns, the Business Cycle and the Labor Market

2013 ◽  
Vol 14 (3) ◽  
pp. 372-397 ◽  
Author(s):  
Burkhard Heer ◽  
Alfred Maußner
Keyword(s):  
Labor Market ◽  
Business Cycle ◽  
Equity Premium ◽  
Working Hours ◽  
New Keynesian ◽  
Monetary Shocks ◽  
Productivity Shocks ◽  
New Keynesian Models ◽  
The Business Cycle ◽  
Sticky Wages

Abstract We review the labor market implications of recent real-business cycle and New Keynesian models that successfully replicate the empirical equity premium. We document the fact that all models reviewed in this article that do not feature either sticky wages or immobile labor between two production sectors as in Boldrin et al. (2001) imply a negative correlation of working hours and output that is not observed empirically. Within the class of Neo-Keynesian models, sticky prices alone are demonstrated to be less successful than rigid nominal wages with respect to the modeling of the labor market stylized facts. In addition, monetary shocks in these models are required to be much more volatile than productivity shocks to match statistics from both the asset and labor market.

Effective Monetary Policy Strategies in New Keynesian Models: A Reexamination

2015 ◽  
Vol 29 (1) ◽  
pp. 289-344 ◽  
Author(s):  
Hess Chung ◽  
Edward Herbst ◽  
Michael T. Kiley
Keyword(s):  
Monetary Policy ◽  
New Keynesian ◽  
New Keynesian Models ◽  
Policy Strategies

scholarly journals Inflation in the Great Recession and New Keynesian Models

2014 ◽  
Author(s):  
Marco Del Negro ◽  
Marc Giannoni ◽  
Frank Schorfheide
Keyword(s):  
Great Recession ◽  
New Keynesian ◽  
The Great Recession ◽  
New Keynesian Models

scholarly journals New Keynesian Models: Not Yet Useful for Policy Analysis

2008 ◽  
Author(s):  
V.V. Chari ◽  
Patrick Kehoe ◽  
Ellen McGrattan
Keyword(s):  
Policy Analysis ◽  
New Keynesian ◽  
New Keynesian Models

MPCs, MPEs, and Multipliers: A Trilemma for New Keynesian Models

2021 ◽  
pp. 1-41
Author(s):  
Adrien Auclert ◽  
Bence Bardóczy ◽  
Matthew Rognlie
Keyword(s):  
Labor Supply ◽  
New Keynesian ◽  
Fiscal Multipliers ◽  
New Keynesian Models ◽  
Sticky Wages

Abstract We show that New Keynesian models with frictionless labor supply face a challenge: given standard parameters, they cannot simultaneously match plausible estimates of marginal propensities to consume (MPCs), marginal propensities to earn (MPEs), and fiscal multipliers. A HANK model with sticky wages provides a solution to this trilemma.

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