A sticky-information general equilibrium model for policy analysis

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dc.contributor.authorReis, Ricardo
dc.date.accessioned2019-11-01T00:04:30Z
dc.date.available2019-11-01T00:04:30Z
dc.date.issued2009
dc.descriptionFollowing on Keynes’s desire that economists be as useful as dentists, Lucas (1980) argues that this would amount to the following: “Our task, as I see it, is to write a FORTRAN program that will accept specific economic policy rules as ‘input’ and will generate as ‘output’ statistics describing the operating characteristics of time series we care about, which are predicted to result from these policies.” Starting with Kydland and Prescott (1982), and with Rotemberg and Woodford (1997) in the context of monetary policy, the computer program that Lucas asked for has taken the form of dynamic stochastic general equilibrium (DSGE) models. This paper follows the seminal work of Taylor (1979) in using one of these models to ask a series of hypothetical monetary policy questions.
dc.file.nameBCCh-sbc-v13-p227_283
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 227-283
dc.identifier.isbn978-956-7421-32-9
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3752
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking, Analysis, and Economic Policies, no. 13
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectPOLÍTICA ECONÓMICAes_ES
dc.subjectPOLÍTICA MONETARIAes_ES
dc.subjectMODELOS ESTOCÁSTICOSes_ES
dc.titleA sticky-information general equilibrium model for policy analysis
dc.type.docArtículo

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