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ML vs GMM estimates of hybrid macroeconomic models (with an application to the "new Phillips curve")

Jondeau, Eric (contributor); Le Bihan, Hervé (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001827864

Evaluating Monetary Policy Rules in Estimated Forward-Looking Models : A Comparison of US and German Monetary Policies

Jondeau, Eric - 2010

In this paper, we estimate two small, forward-looking, macroeconomic models for the US and Germany and we compare the implied optimal monetary policy rules. Both models have a standard structure: an I-S curve, a Phillips curve, a short term interest-rate rule and a long term interest rate...

Persistent link: https://www.econbiz.de/10013134840

Ml vs GMM Estimates of Hybrid Macroeconomic Models (with an Application to the 'New Phillips Curve')

Jondeau, Eric; Le Bihan, Hervé - 2003

Many macroeconomic models involve hybrid equations, in which some variables are a function of both their lags and their expected future value. The hybrid "New Keynesian" Phillips Curve is a prominent expample. Estimates of such hybrid models have produced conflicting empirical results: Studies...

Persistent link: https://www.econbiz.de/10014088634

Ml vs GMM Estimates of Hybrid Macroeconomic Models (with an Application to the New Phillips Curve)

Jondeau, Eric; Le Bihan, Hervé - 2010

Many macroeconomic models involve hybrid equations, in which some variables are a function of both their lags and their expected future value. The hybrid "New Keynesian" Phillips Curve is a prominent example. Estimates of such hybrid models have produced conflicting empirical results: Studies...

Persistent link: https://www.econbiz.de/10014187933