Graham, LM;
(2003)
Monetary models and technology shocks.
Economics Letters
, 81
(1)
pp. 47-53.
10.1016/S0165-1765(03)00153-8.
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Abstract
Adding 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.
Type: | Article |
---|---|
Title: | Monetary models and technology shocks |
Open access status: | An open access version is available from UCL Discovery |
DOI: | 10.1016/S0165-1765(03)00153-8 |
Keywords: | calibration, dynamic general equilibrium, technology shocks |
UCL classification: | UCL UCL > Provost and Vice Provost Offices UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS |
URI: | https://discovery.ucl.ac.uk/id/eprint/3888 |
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