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BestMasters

Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty

Authors: Kranz, Tobias

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  • Study in the field of economics
  • Introduction of the New Keynesian framework
  • Mathematical concepts and background information
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eBook $59.99
price for USA in USD (gross)
  • ISBN 978-3-658-15639-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $79.99
price for USA in USD
  • ISBN 978-3-658-15638-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

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 demand shocks and uncertainty. The latter enters the model via second order Taylor approximation instead of linearization. Bringing all equations together results in an equilibrium condition which is simulated with a wide range of parameter values, including possible crisis scenarios. The author finds that accounting for uncertainty – regarding growth and inflation expectations – can lead to lower nominal interest rates set by the central bank.

About the authors

Tobias Kranz obtained his Master of Science degree in Economics at the University of Trier in 2015. He has been working as postgraduate at the chair of Empirical Economics (University of Trier) since 2016.

 

Table of contents (5 chapters)

Table of contents (5 chapters)

Buy this book

eBook $59.99
price for USA in USD (gross)
  • ISBN 978-3-658-15639-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $79.99
price for USA in USD
  • ISBN 978-3-658-15638-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty
Authors
Series Title
BestMasters
Copyright
2017
Publisher
Gabler Verlag
Copyright Holder
Springer Fachmedien Wiesbaden
eBook ISBN
978-3-658-15639-8
DOI
10.1007/978-3-658-15639-8
Softcover ISBN
978-3-658-15638-1
Series ISSN
2625-3577
Edition Number
1
Number of Pages
XIII, 72
Number of Illustrations
19 b/w illustrations
Topics