I estimate a New Keynesian DSGE model based on Ascari et al. [2016] and Justiniano et al. [2010], focusing on investment shocks as a driver of business cycles. Against the backdrop of theoretical contributions that ruled them out for such a role, recent research has identified several mechanisms that explain their contribution. I find the best fit for a model that applies trend growth and trend inflation as well as price and wage setting frictions and positive markups.
Estimation of a New Keynesian DSGE model
HEINEVETTER, SIMON
2020/2021
Abstract
I estimate a New Keynesian DSGE model based on Ascari et al. [2016] and Justiniano et al. [2010], focusing on investment shocks as a driver of business cycles. Against the backdrop of theoretical contributions that ruled them out for such a role, recent research has identified several mechanisms that explain their contribution. I find the best fit for a model that applies trend growth and trend inflation as well as price and wage setting frictions and positive markups.È consentito all'utente scaricare e condividere i documenti disponibili a testo pieno in UNITESI UNIPV nel rispetto della licenza Creative Commons del tipo CC BY NC ND.
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https://hdl.handle.net/20.500.14239/1098