G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16141
DP16141 Short-term Planning, Monetary Policy, and Macroeconomic Persistence
J David López-Salido; Christopher Gust; Edward Herbst
发表日期2021-05-12
出版年2021
语种英语
摘要This paper estimates a behavioral New Keynesian (NK) model in which households and firms plan over a finite horizon. The finite-horizon (FH) model outperforms rational expectations versions of the NK model as well as other behavioral NK models. In the FH model, households and firms are forward-looking in thinking about events over their planning horizon but are backward looking regarding events beyond that point. This gives rise to substantial aggregate persistence without resorting to additional features such as habit persistence and price contracts indexed to lagged inflation.
主题Monetary Economics and Fluctuations
关键词Finite-horizon planning Learning monetary policy New keynesian model Bayesian estimation
URLhttps://cepr.org/publications/dp16141
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/545115
推荐引用方式
GB/T 7714
J David López-Salido,Christopher Gust,Edward Herbst. DP16141 Short-term Planning, Monetary Policy, and Macroeconomic Persistence. 2021.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[J David López-Salido]的文章
[Christopher Gust]的文章
[Edward Herbst]的文章
百度学术
百度学术中相似的文章
[J David López-Salido]的文章
[Christopher Gust]的文章
[Edward Herbst]的文章
必应学术
必应学术中相似的文章
[J David López-Salido]的文章
[Christopher Gust]的文章
[Edward Herbst]的文章
相关权益政策
暂无数据
收藏/分享

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。