Evaluating a monetary business cycle model with unemployment for the euro area. NBB Working Paper 173, July 2009
(2009) Evaluating a monetary business cycle model with unemployment for the euro area. NBB Working Paper 173, July 2009.
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Abstract
This paper estimates a medium-scale DSGE model with search unemployment by matching model and data spectra. Price mark-up shocks emerge as the main source of business-cycle fluctuations in the euro area. Key factors in the propagation of these disturbances are a high degree of inflation indexation and a persistent response of monetary policy to deviations from the inflation target.
| Item Type: | Working Paper |
|---|---|
| Public Domain: | No |
| Refereed: | No |
| Status: | Published |
| Authors, Individual: | Groshenny, Nicolas. |
| Title: | Evaluating a monetary business cycle model with unemployment for the euro area. NBB Working Paper 173, July 2009 |
| Language: | English |
| Journals and Series: | Series > National Bank of Belgium (Brussels) > Working Papers |
| Pages: | 49 |
| Month: | July |
| Year: | 2009 |
| Subjects: | Countries > Belgium EU policies and themes > Policies & related activities > employment/labour market > employment/unemployment EU policies and themes > Policies & related activities > economic and financial affairs > general |
| Alternative Locations: | http://www.nbb.be/doc/ts/publications/wp/wp173En.pdf |
| ID Code: | 11769 |
| Deposited By: | Wilkin, Phil |
| Deposited On: | 28 October 2009 |
