An open economy new Keynesian macroeconomic model: The case of Turkey
نویسندگان
چکیده
منابع مشابه
The Effect of External Shocks on Macroeconomic Variables for the Iranian Economy in the form of New Keynesian DSGE Model
One of the important issues that have been the focus of economists in developed and developing countries for the last several decades is the study of the effect of External Shocks on macroeconomic variables of those countries.In this paper In order to investigate the effect of external shocks including world oil price, exchange rate and global inflation shocks on macroeconomic variables of Ira...
متن کاملThe ‘ New Keynesian ’ Phillips curve : closed economy versus open economy
The paper extends Woodford’s [Optimizing models with nominal rigidities, Chapter 3 of Interest and prices: foundations of a theory of monetary policy, Princeton University, 2000; unpublished manuscript] analysis of the closed economy Phillips curve to an open economy with both commodity trade and capital mobility. We show that consumption smoothing, which comes with the opening of the capital m...
متن کاملThe role of net foreign assets in a New Keynesian small open economy model
This paper develops a small open economy, sticky-price model that determines a unique, stable long-run asset position for households as function of their incentive to anticipate or postpone consumption and labor effort across periods. This is accomplished by adopting an overlapping-generations structure in which new households with no assets enter the economy in each period. The same characteri...
متن کاملEnvironmental policy and macroeconomic dynamics in a new Keynesian model
This paper studies the dynamic behavior of an economy under different environmental policy regimes in a New Keynesian model with nominal and real uncertainty. We find the following results: (i) an emissions cap policy is likely to dampen macroeconomic fluctuations; (ii) staggered price adjustment alters significantly the performance of the environmental policy regime put in place; (iii) the opt...
متن کاملMacroeconomic fluctuations in a New Keynesian disequilibrium model
The global financial crisis that has struck in 2008 and the ensuing global recession of 2009–2012 have led to a renewed interest in macroeconomic adjustment and macroeconomic management. At a paradigmatic level, standard approaches—be they more of a neo-classical or Keynesian nature—appear to be inadequate to explain the complete patterns and persistence of fluctuations seen during the crisis. ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: İktisat İşletme ve Finans
سال: 2011
ISSN: 1308-4658,1300-610X
DOI: 10.3848/iif.2011.305.2978