Evaluating a monetary business cycle model with unemployment for the euro area

This paper estimates a medium-scale DSGE model with search unemployment by matching model and data spectra. Price mark-up shocks emerge as the main source of business-cycle fluctuations in the euro area. Key factors in the propagation of these disturbances are a high degree of inflation indexation and a persistent response of monetary policy to deviations from the inflation target

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Year of publication:	2009-07
Authors:	Groshenny, Nicolas
Institutions:	Nationale Bank van België/Banque national de Belqique (BNB)
Subject:	DSGE models \| business cycles \| frequency-domain analysis

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Extent:	application/pdf
Series:	Working Paper Research.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 173 49 pages
Classification:	E32 - Business Fluctuations; Cycles ; C51 - Model Construction and Estimation ; C52 - Model Evaluation and Testing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004973363