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OverviewThe 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. Full Product DetailsAuthor: Tobias KranzPublisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Imprint: Springer Gabler Edition: 1st ed. 2017 Dimensions: Width: 14.80cm , Height: 0.50cm , Length: 21.00cm Weight: 1.258kg ISBN: 9783658156381ISBN 10: 3658156384 Pages: 72 Publication Date: 06 October 2016 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Table of ContentsHistorical 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.ReviewsAuthor InformationTobias 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. Tab Content 6Author Website:Countries AvailableAll regions |
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