This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost...

This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost...

Dieses vorläufige Papier beinhaltet keinerlei neuen Erkenntnisse, sondern fasst lediglich einige zentrale Aspekte der makroökonomischen Lerntheorie (siehe Evans, Honkajohja (2001)) knapp zusammen. Es wird der Frage nachgegangen ob rationale Erwartungsgleichgewichte lernbar sind. Lernen...

This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost...

Dieses vorläufige Papier beinhaltet keinerlei neuen Erkenntnisse, sondern fasst lediglich einige zentrale Aspekte der makroökonomischen Lerntheorie (siehe Evans, Honkajohja (2001)) knapp zusammen. Es wird der Frage nachgegangen ob rationale Erwartungsgleichgewichte lernbar sind. Lernen...

This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost...

This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost...

This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost...

This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking firm, in which banks de-cide on their loan supply in the light of uncertainty about the future course of monetary policy. Applying a vector error correction model (VECM),we...