| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7081 |
| DP7081 Transitory Economic Shocks and Civil Conflict | |
| Antonio Ciccone | |
| 发表日期 | 2008-12-08 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | This paper studies the transmission of shocks and the trade-offs between stabilizing CPI inflation and alternative measures of the output gap in Ramses, the Riksbank's empirical dynamic stochastic general equilibrium (DSGE) model of a small open economy. The main results are, first, that the transmission of shocks depends substantially on the conduct of monetary policy, and second, that the trade-off between stabilizing CPI inflation and the output gap strongly depends on which concept of potential output in the output gap between output and potential output is used in the loss function. If potential output is defined as a smooth trend this trade-off is much more pronounced compared to the case when potential output is defined as the output level that would prevail if prices and wages were flexible. |
| 主题 | International Macroeconomics |
| 关键词 | Impulse responses Instrument rules Open-economy dsge models Optimal monetary policy Output gap Potential output |
| URL | https://cepr.org/publications/dp7081 |
| 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/535918 |
| 推荐引用方式 GB/T 7714 | Antonio Ciccone. DP7081 Transitory Economic Shocks and Civil Conflict. 2008. |
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