Constructing and estimating a realistic optimizing model of monetary policy

By Jinill Kim. 2000

299 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/b504b7d0b31eefc7e494d51e54be51a2e7d6de84

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

Citations in the corpus

Dynamics of Fiscal Financing in the United States (2009, unknown): “…between productive and unproductive government spending [Aschauer (1989), Baxter and King (1993)], monetary policy behavior [Leeper and Sims (1994), Kim (2000)], and the possibility of fiscal foresight [Leeper, Walker, and Yang (2009)] , is a short list of further complications worthy of modeling…”
A Method for Taking Models to the Data (2004, background): “Many researchers, however, including Kydland and Prescott (1982), argue that models of this type are too stylized to explain many features of the data, making traditional econometric methods inapplicable. Indeed, one dimension along which the real business cycle model is quite stylized lies in its a”
Why Does Private Consumption Rise After a Government Spending Shock (2007, unknown): “This method has been used to estimate dynamic stochastic general-equilibrium models by (among others) McGrattan (1994), McGrattan, Rogerson, and Wright (1997), Kim (2000), Ireland (2001), Bouakez, Cardia, and Ruge-Murcia (2002), and Dib (2003).”
Comparing New Keynesian Models of the Business Cycle: A Bayesian Approach (2005, background): “As discussed in Leeper and Zha (2000), estimation of reduced-form equations or partial equilibrium models su¤ers from identi cation problems.”
Endogenous Money or Sticky Prices? (2002, methodology): “…shock like the one in McCallum and Nelson (1999) that enters into the Euler equation linking a representative household s consumption growth to the real interest rate, a preference shock like the one in 10 Kim (2000) that acts like a shock to money demand, and a shock to the monetary policy rule.”
Does inflation increase after a monetary policy tightening? Answers based on an estimated DSGE model ☆ (2007, background): “Classical approaches which use full-information maximum likelihood and general equilibrium models, such as Kim (2000) and Ireland (2001), also benefit from this advantage.”
Testing for Indeterminacy: An Application to U. S. Monetary Policy (2007, unknown): “In other words, since the household is the recipient of the firms’ residual payments it directs firms to make decisions based on the households intertemporal rate of substitution (see Kim [19]).”
The general equilibrium effects of fiscal policy: Estimates for the Euro area (2007, background): “25 Both Perotti (2005) and Mountford and Uhlig (2005) consider innovations to two variables: government spending (including purchases of good and services the public wage bill and government investment) and net taxes (i.”
An estimated dynamic stochastic general equilibrium model of the euro area. NBB Working Paper Nr. 35 (2002, methodology): “Following Kollmann (1997) and Erceg, Henderson and Levin (2000), the model exhibits both sticky nominal prices and wages that adjust following a Calvo mechanism.”
Estimating Dynamic Equilibrium Economies: Linear versus Nonlinear Likelihood (2005, background): “Examples include the seminal paper of Sargent (1989) and, more recently, Bouakez et al. (2002), DeJong et al. (2000), Dib (2001), Fern´ andez-Villaverde and Rubio-Ram´ orez (2003), Hall (1996), Ireland (2002), Kim (2000) , Landon-Lane (1999), Lubik and Schorfheide (2003), McGrattan et al. (1997), M”
A Microfounded Sectoral Model for Open Economies (2007, background): “Calvo’s price adjustment model is extremely tractable and also very popular in DSGE models such as Rotemberg (1987), Hairault and Portier (1993), Kimball (1995), King and Watson (1996), King and Wolman (1996), Rotemberg (1996), Yun (1996), Ireland (1997), Woodford (1998) and Kim (2000).”
Shocks and Frictions in Us Business Cycles: A Bayesian DSGE Approach (2007, background): “In particular the standard errors of the productivity, monetary policy and price mark-up shocks 15 This picture does not change very much when we do not allow for a positive effect of productivity on exogenous spending 16 See for instance Rotemberg (2003) for arguments favoring a slow appearance of ”
Loss function‐based evaluation of DSGE models (2000, methodology): “Examples of thtis modeling approach are Leeper and Sims (1994), Kim (2000), and Dejong et al.”
MACROECONOMIC EFFECTS OF GREATER COMPETITION IN THE SERVICE SECTOR: THE CASE OF ITALY (2010, background): “AC t ≡ κW 2 ( Wt (j) /Wt−1 (j) (Wt−1/Wt−2) indW − 1 )2 Lt (19)”
Money in an Estimated Business Cycle Model of the Euro Area (2006, unknown): “The estimation procedure follows Hansen and Sargent (2000), Kim (2000) and Ireland (2001), who propose a maximum likelihood method to exploit the crossequation restrictions implied by the stationary solution of the model (2.5)-(2.13).”