The Analytics of the New Keynesian 3-equation Model
Jean-Christophe Poutineau , Karolina Sobczak , Gauthier Vermandel
AbstractThis paper aims at providing a self contained presentation of the ideas and solution procedure of New Keynesian Macroeconomics models. Using the benchmark "3 equation model", we introduce the reader to an intuitive, static version of the model before incorporating more technical aspects associated with the dynamic nature of the model. We then discuss the relative contribution of supply, demand and policy shocks to the fluctuations of activity, inflation and interest rate, depending on the key underlying parameters of the economy.
|Journal series||Economics and Business Review, [Poznan University of Economics Review], ISSN 2392-1641, e-ISSN 2450-0097, [1643-5877], (B 15 pkt)|
|Publication size in sheets||0.95|
|Keywords in English||dynamic IS curve, impulse response analysis, New Keynesian Macroeconomics, New Keynesian Phillips Curve, output gap, Taylor rule|
|Score|| = 15.0, 30-12-2019, ArticleFromJournal|
= 15.0, 30-12-2019, ArticleFromJournal
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