The New Keynesian Model: an empirical application to the euro area economy

Detalhes bibliográficos
Autor(a) principal: Barradas, R.
Data de Publicação: 2014
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: https://ciencia.iscte-iul.pt/id/ci-pub-38143
http://hdl.handle.net/10071/14145
Resumo: This paper empirically applies the New Keynesian Model to the euro area's economy during the period from the first quarter of 1999 to the last quarter of 2008, which is consistent with the scant empirical evidence on this Dynamic Stochastic General Equilibrium model. The New Keynesian Model is estimated using the Generalized Method of Moments, since the model denote hybrid features including backward and forward looking behaviours by economic agents and elements with rational expectations. Although this method of estimation may present some limitations, the New Keynesian Model seems to describe reasonably well the evolution of economic activity, the inflation rate and monetary policy in the euro area. Against this backdrop, the New Keynesian Model may provide an important tool for aiding the governments of euro area countries and the European Central Bank in the adoption and implementation of its policies over time.
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spelling The New Keynesian Model: an empirical application to the euro area economyNew Keynesian ModelIS CurvePhillips CurveTaylor RuleGeneralized Method of MomentsEuro areaThis paper empirically applies the New Keynesian Model to the euro area's economy during the period from the first quarter of 1999 to the last quarter of 2008, which is consistent with the scant empirical evidence on this Dynamic Stochastic General Equilibrium model. The New Keynesian Model is estimated using the Generalized Method of Moments, since the model denote hybrid features including backward and forward looking behaviours by economic agents and elements with rational expectations. Although this method of estimation may present some limitations, the New Keynesian Model seems to describe reasonably well the evolution of economic activity, the inflation rate and monetary policy in the euro area. Against this backdrop, the New Keynesian Model may provide an important tool for aiding the governments of euro area countries and the European Central Bank in the adoption and implementation of its policies over time.FRDN Incorporated2017-07-26T09:27:10Z2014-01-01T00:00:00Z20142017-07-26T09:26:13Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://ciencia.iscte-iul.pt/id/ci-pub-38143http://hdl.handle.net/10071/14145eng1986-4094Barradas, R.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:53:46Zoai:repositorio.iscte-iul.pt:10071/14145Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:27:00.379393Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The New Keynesian Model: an empirical application to the euro area economy
title The New Keynesian Model: an empirical application to the euro area economy
spellingShingle The New Keynesian Model: an empirical application to the euro area economy
Barradas, R.
New Keynesian Model
IS Curve
Phillips Curve
Taylor Rule
Generalized Method of Moments
Euro area
title_short The New Keynesian Model: an empirical application to the euro area economy
title_full The New Keynesian Model: an empirical application to the euro area economy
title_fullStr The New Keynesian Model: an empirical application to the euro area economy
title_full_unstemmed The New Keynesian Model: an empirical application to the euro area economy
title_sort The New Keynesian Model: an empirical application to the euro area economy
author Barradas, R.
author_facet Barradas, R.
author_role author
dc.contributor.author.fl_str_mv Barradas, R.
dc.subject.por.fl_str_mv New Keynesian Model
IS Curve
Phillips Curve
Taylor Rule
Generalized Method of Moments
Euro area
topic New Keynesian Model
IS Curve
Phillips Curve
Taylor Rule
Generalized Method of Moments
Euro area
description This paper empirically applies the New Keynesian Model to the euro area's economy during the period from the first quarter of 1999 to the last quarter of 2008, which is consistent with the scant empirical evidence on this Dynamic Stochastic General Equilibrium model. The New Keynesian Model is estimated using the Generalized Method of Moments, since the model denote hybrid features including backward and forward looking behaviours by economic agents and elements with rational expectations. Although this method of estimation may present some limitations, the New Keynesian Model seems to describe reasonably well the evolution of economic activity, the inflation rate and monetary policy in the euro area. Against this backdrop, the New Keynesian Model may provide an important tool for aiding the governments of euro area countries and the European Central Bank in the adoption and implementation of its policies over time.
publishDate 2014
dc.date.none.fl_str_mv 2014-01-01T00:00:00Z
2014
2017-07-26T09:27:10Z
2017-07-26T09:26:13Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://ciencia.iscte-iul.pt/id/ci-pub-38143
http://hdl.handle.net/10071/14145
url https://ciencia.iscte-iul.pt/id/ci-pub-38143
http://hdl.handle.net/10071/14145
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 1986-4094
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv FRDN Incorporated
publisher.none.fl_str_mv FRDN Incorporated
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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