Binder, Michael; Lieberknecht, Philipp; Quintana, Jorge; … - 2017
For some time now, structural macroeconomic models used at central banks have been predominantly New Keynesian DSGE … comparative approach to investigate the characteristics of this new generation of New Keynesian DSGE models and document an … types of financial frictions and monetary policy causes larger effects, on average. The New Keynesian DSGE models we analyze …