| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19360 |
| 来源ID | Working Paper 19360 |
| Identifying Taylor Rules in Macro-Finance Models | |
| David Backus; Mikhail Chernov; Stanley E. Zin | |
| 发表日期 | 2013-08-22 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | Identification problems arise naturally in forward-looking models when agents observe more than economists. We illustrate the problem in several New Keynesian and macro-finance models in which the Taylor rule includes a shock unseen by economists. We show that identification of the rule's parameters requires restrictions on the form of the shock. A state-space treatment verifies that this works when we observe the state of the economy and when we infer it from observable macroeconomic variables or asset prices. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy ; Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w19360 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577034 |
| 推荐引用方式 GB/T 7714 | David Backus,Mikhail Chernov,Stanley E. Zin. Identifying Taylor Rules in Macro-Finance Models. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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