Now showing items 1-3 of 3
An estimated new-Keynesian model with unemployment as excess supply of labor
(2010) Documento de trabajo / Lan gaiak,
As one alternative to search frictions, wage stickiness is introduced in a New-Keynesian model to generate endogenous unemployment fluctuations due to mismatches between labor supply and labor demand. The effects on an ...
Data revisions in the estimation of DSGE models
(2011) Documento de trabajo / Lan gaiak,
Revisions of US macroeconomic data are not white-noise. They are persistent, correlated with real-time data, and with high variability (around 80% of volatility observed in US real-time data). Their business cycle effects ...
A portfolio-choice model to analyze the recent gross capital flows between Canada and the US
We calibrate a two-country New Keynesian model with endogenous portfolio choice and valuation effects to discuss the determinants of the increase in Canadian Net Foreign Assets with the US observed after 2012. Furthermore, ...