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Monetary models and technology shocks

Graham, LM; (2003) Monetary models and technology shocks. Economics Letters , 81 (1) pp. 47-53. 10.1016/S0165-1765(03)00153-8. Green open access

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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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