Cargando…
Sectoral Labor Mobility and Optimal Monetary Policy /
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2017.
|
| Colección: | IMF working paper ;
WP/17/40. |
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover; Contents; 1 Introduction; 2 Model; 2.1 Households; 2.2 Firms; 2.3 Fiscal and monetary policy; 2.4 Market clearing conditions and exogenous processes; 2.5 Functional forms; 3 Bayesian estimation; 3.1 Calibration and priors; 3.2 Estimation results; 4 Optimal monetary policy; 4.1 The monetary policy rule; 4.2 Welfare measure; 4.3 Results; 4.3.1 Impulse responses to an inflation shock; 4.3.2 Optimized interest-rate rules; 4.4 Robustness to alternative calibrations and interest rate rules; 5 Conclusion; References; Appendix; A Data; A.1 Durables and Residential Investments.
- A.2 Nondurables and ServicesA. 3 Data transformation for Bayesian estimation; B Symmetric equilibrium; C Steady state; List of Tables; 1 Calibrated parameters; 2 Prior and posterior distributions of estimated parameters; 3 Optimized monetary policy rule: Sticky vs Flexible Durables Prices; 4 Relative standard deviations of inflation, wages and output; 5 Optimized monetary policy rules: robustness to alternative calibrations; 6 Robustness to alternative optimized monetary policy rule; A.1 Data Sources; A.2 Data transformation
- Observables; List of Figures.
- 1 Sectoral labor mobility parameter: prior and posterior densities2 Responses to adurables price markup shock: Ramsey policy; 3 Durables price stickiness and optimal weight on durables inflation: flexible vs. sticky wages.