| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5479 |
| DP5479 Long-Term Public Debt and the Fiscal Theory of the Price Level | |
| PIETRO REICHLIN; Gaetano Bloise | |
| 发表日期 | 2006-01-24 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper investigates the relationship between monetary policy and the changes experienced by the US economy using a small scale New Keynesian model. The model is estimated with Bayesian techniques and the stability of policy parameter estimates and of the transmission of policy shocks examined. The model fits well the data and produces forecasts comparable or superior to those of alternative specifications. The parameters of the policy rule, the variance and the transmission of policy shocks have been remarkably stable. The parameters of the Phillips curve and of the Euler equations are varying. |
| 主题 | International Macroeconomics |
| 关键词 | New keynesian model Bayesian methods monetary policy Great inflation |
| URL | https://cepr.org/publications/dp5479 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534336 |
| 推荐引用方式 GB/T 7714 | PIETRO REICHLIN,Gaetano Bloise. DP5479 Long-Term Public Debt and the Fiscal Theory of the Price Level. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
