Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy

By Lawrence J. Christiano, Martin Eichenbaum, C. Evans. Journal of Political Economy, 2005

6,934 citations recorded by the source corpus.

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Citations in the corpus

The Pricing Behaviour of Firms in the Euro Area: New Survey Evidence (2005, neutral): “…behaviour aside, price stickiness may also stem from firms using some form of rule-of-thumb in setting their price (Galí and Gertler, 1999; and Galí et al., 2001) or from indexation schemes (Christiano et al., 2005) or from stickiness in gathering information (Mankiw and Reis, 2002).”
Disinflation in a DSGE perspective: sacrifice ratio or welfare gain ratio? (2012, background): “In their seminal work, Christiano et al. (2005) (CEE, henceforth) show that a medium-scale New Keynesian model, enlarged to accommodate various nominal and real frictions, matched the business cycle uctuations reasonably well.”
Back to Square One: Identification Issues in DSGE Models (2009, background): “The economy we consider is standard: it features real and nominal frictions, and has been shown to capture well important features both of the US (see Christiano et al., 2005; Dedola and Neri, 2007) and the EU economies (see Smets and Wouters, 2003). The log-linearized optimality conditions of the m”
The Chicago Plan Revisited (2012, methodology): “This simulation, which uses borrower riskiness shocks in a very similar way to Christiano et al. (2011) and Christiano et al.”
Fiscal Foresight and Information Flows (2012, background): “…this model abstracts from nominal considerations, it nonetheless includes many of the features that have proven to be important in fitting DSGE models to data [see, for example, Christiano, Eichenbaum, and Evans (2005), Smets and Wouters (2003, 2007), Adolfson, Laseen, Linde, and Villani (2007)].”
Euler equations and money market interest rates: A challenge for monetary policy models (2007, methodology): “Consider, for example, the impulse response function of the real Euler equation rate implied by the preferences used by Edge (2002) and Christiano et al. (2005).”
The Role of Labor Markets for Euro Area Monetary Policy (2009, positive): “Allowing for the existence of such a wage channel is in line with much of the New Keynesian modeling 2 tradition, e.g. Christiano, Eichenbaum, and Evans (2005) and Smets and Wouters (2003).2 We complement Trigari’s (2006) right-to-manage model with Calvo type wage rigidities.”
Habit Formation in Consumption: A Meta-Analysis (2017, methodology): “…2000; Carroll et al., 2011; Everaert & Pozzi, 2014), some employ micro panel data sets (Dynan, 2000; Collado & Browning, 2007; Alessie & Teppa, 2010), and others use DSGE models (Christiano et al., 2005; Smets & Wouters, 2007), often employing prior values for the habit formation parameter.”
Investment and Value: A Neoclassical Benchmark (2008, positive): “The third model, which we call the CEE model incorporates adjustment costs that penalize changes in the level of investment, as proposed by Christiano, Eichenbaum, and Evans (2005).”
Habit formation, the cross section of stock returns and the cash-flow risk puzzle (2010, methodology): “We focus on the Cohen et al. (2009) measure, as it is directly related to our setting, while the measure of cash-flow risk in Bansal et al.”
New evidence on inflation persistence and price stickiness in the Euro area: Implications for macro modelling (2006, critical): “…finding provides evidence against the theories of non-convex price adjustment costs (Rotemberg 1982), the Calvo models with indexation either to steady-state inflation or past inflation (Yun 1996 and Christiano, Eichenbaum, and Evans 2005) and the sticky information model of Mankiw and Reis (2002).”
On the Fit and Forecasting Performance of New Keynesian Models (2005, methodology): “Examples include Nason and Cogley (1994), Rotemberg and Woodford (1997), Boivin and Giannoni (2003), and Christiano, Eichenbaum, and Evans (2004).”
By How Much Does GDP Rise If the Government Buys More Output? (2009, neutral): “Christiano et al. (2009) find that the government-purchases multiplier in a New Keynesian model becomes large when an economy hits the zero nominal interest bound.”
Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the U.S. Business Cycle (2004, methodology): “Altig et al. (2003) and Christiano, Eichenbaum, and Evans (2003) argue that the model economy for which we seek to design optimal monetary policy can indeed explain the observed responses of inflation, real wages, nominal interest rates, money growth, output, investment, 1Examples of this line of…”