Monetary models and technology shocks
AbstractAdding variable capital utilisation to a dynamic new Keynesian (DNK) framework gives a model which can produce realistic responses to both technology and monetary shocks. This requires the assumption of a much lower level of nominal rigidity than is usual.
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Bibliographic InfoPaper provided by University College London in its series Open Access publications from University College London with number http://discovery.ucl.ac.uk/3888/.
Date of creation: 01 Oct 2003
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Publication status: Published in Economics Letters (2003-10-01) v.81, p.47-53
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"The Financial Accelerator in a Quantitative Business Cycle Framework,"
NBER Working Papers
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- Graham, Liam, 2008. "Consumption habits and labor supply," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 382-395, March.
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