| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7583 |
| DP7583 Immigration and Swiss House Prices | |
| Andreas Fischer; Kathrin Degen | |
| 发表日期 | 2009-11-29 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We calibrate a standard New Keynesian model with three alternative representations of monetary policy- an optimal timeless rule, a Taylor rule and another with interest rate smoothing- with the aim of testing which if any can match the data according to the method of indirect inference. We find that the only model version that fails to be strongly rejected is the optimal timeless rule. Furthermore this version can also account for the widespread finding of apparent 'Taylor rules' and 'interest rate smoothing' in the data, even though neither represents the true monetary policy. |
| 主题 | International Macroeconomics |
| 关键词 | Bootstrap simulation indirect inference monetary policy New keynesian model Taylor-type rules The 'target rule' Var Wald statistic |
| URL | https://cepr.org/publications/dp7583 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536420 |
| 推荐引用方式 GB/T 7714 | Andreas Fischer,Kathrin Degen. DP7583 Immigration and Swiss House Prices. 2009. |
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