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Monetary models and technology shocks

By Liam Graham

Abstract

Adding variable capital utilisation to a dynamic new Keynesian framework gives a model which can produce realistic responses to both technology and monetary shocks. This requires the assumption of a much lower level of nominal rigidity than is usual

Topics: calibration, dynamic general equilibrium, technology shocks, monetary shocks JEL Classifications, E32, E37
Year: 2002
OAI identifier: oai:CiteSeerX.psu:10.1.1.194.7361
Provided by: CiteSeerX
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