The New Keynesian business cycle achievements and challenges
Autor(a) principal: | |
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Data de Publicação: | 2007 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/15546 |
Resumo: | The New-Keynesian (NK) business cycle model has presented itself as a potential “workhorse” model for business cycle analysis. This paper seeks to assess afresh the performance of the baseline NK model and its various extensions. The main theme of the paper is that although the dynamic NK literature has secured a robust defence to criticism arising, inter alia, on account of lack of microfoundations, it still has a long way to go in terms of providing a fully satisfactory model of the business cycle. In this regard, it is conjectured that explicitly accounting for the role of heterogeneity in business- cycle dynamics could lead towards a viable solution. |
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The New Keynesian business cycle achievements and challengesNew KeynesianBusiness cycleHeterogeneityThe New-Keynesian (NK) business cycle model has presented itself as a potential “workhorse” model for business cycle analysis. This paper seeks to assess afresh the performance of the baseline NK model and its various extensions. The main theme of the paper is that although the dynamic NK literature has secured a robust defence to criticism arising, inter alia, on account of lack of microfoundations, it still has a long way to go in terms of providing a fully satisfactory model of the business cycle. In this regard, it is conjectured that explicitly accounting for the role of heterogeneity in business- cycle dynamics could lead towards a viable solution.Springer VerlagRepositório da Universidade de LisboaSaroliya, Gaurav2018-06-01T14:27:15Z2007-082007-08-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/15546engSaroliya, Gaurav (2007). "The New Keynesian business cycle achievements and challenges". Portuguese Economic Journal, 6(2):95-1161617-982X (print)10.1007/s10258-007-0019-8metadata only accessinfo: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:RCAAP2023-03-06T14:45:29Zoai:www.repository.utl.pt:10400.5/15546Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:01:09.976883Repositório 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 business cycle achievements and challenges |
title |
The New Keynesian business cycle achievements and challenges |
spellingShingle |
The New Keynesian business cycle achievements and challenges Saroliya, Gaurav New Keynesian Business cycle Heterogeneity |
title_short |
The New Keynesian business cycle achievements and challenges |
title_full |
The New Keynesian business cycle achievements and challenges |
title_fullStr |
The New Keynesian business cycle achievements and challenges |
title_full_unstemmed |
The New Keynesian business cycle achievements and challenges |
title_sort |
The New Keynesian business cycle achievements and challenges |
author |
Saroliya, Gaurav |
author_facet |
Saroliya, Gaurav |
author_role |
author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Saroliya, Gaurav |
dc.subject.por.fl_str_mv |
New Keynesian Business cycle Heterogeneity |
topic |
New Keynesian Business cycle Heterogeneity |
description |
The New-Keynesian (NK) business cycle model has presented itself as a potential “workhorse” model for business cycle analysis. This paper seeks to assess afresh the performance of the baseline NK model and its various extensions. The main theme of the paper is that although the dynamic NK literature has secured a robust defence to criticism arising, inter alia, on account of lack of microfoundations, it still has a long way to go in terms of providing a fully satisfactory model of the business cycle. In this regard, it is conjectured that explicitly accounting for the role of heterogeneity in business- cycle dynamics could lead towards a viable solution. |
publishDate |
2007 |
dc.date.none.fl_str_mv |
2007-08 2007-08-01T00:00:00Z 2018-06-01T14:27:15Z |
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 |
http://hdl.handle.net/10400.5/15546 |
url |
http://hdl.handle.net/10400.5/15546 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Saroliya, Gaurav (2007). "The New Keynesian business cycle achievements and challenges". Portuguese Economic Journal, 6(2):95-116 1617-982X (print) 10.1007/s10258-007-0019-8 |
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metadata only access info:eu-repo/semantics/openAccess |
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metadata only access |
eu_rights_str_mv |
openAccess |
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application/pdf |
dc.publisher.none.fl_str_mv |
Springer Verlag |
publisher.none.fl_str_mv |
Springer Verlag |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799131100501508096 |