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The current monograph compares the predictions of various dynamic stochastic general equilibrium (DSGE) models with a view to developing an improved understanding of observed fluctuations in small open economies. An analytical framework, synthesising both neoclassical and Keynesian approaches, is proposed resulting in the construction of four different DSGE models, the predictions of which can be tested in the context of any small open economy. For definiteness, the current research focuses exclusively on the two small open economies of UK and Canada. A DSGE model with full price and wage flexibility is initially constructed and then modified through nominal wage and price rigidities. The ability of the models to replicate important features of the business cycle activity in UK and Canada is explored through statistical and econometric analysis. Evidence suggests that a monetary shock under a Taylor model with price stickiness can replicate a significant portion of the business cycle activity in both UK and Canada.
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- EditorialLAP Lambert Academic Publishing
- Año de publicación2011
- ISBN 10 3843379807
- ISBN 13 9783843379809
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- Número de páginas220
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NEOCLASSICAL AND KEYNESIAN DYNAMICS FOR A SMALL OPEN ECONOMY
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NEOCLASSICAL AND KEYNESIAN DYNAMICS FOR A SMALL OPEN ECONOMY
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Descripción Taschenbuch. Condición: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -The current monograph compares the predictions of various dynamic stochastic general equilibrium (DSGE) models with a view to developing an improved understanding of observed fluctuations in small open economies. An analytical framework, synthesising both neoclassical and Keynesian approaches, is proposed resulting in the construction of four different DSGE models, the predictions of which can be tested in the context of any small open economy. For definiteness, the current research focuses exclusively on the two small open economies of UK and Canada. A DSGE model with full price and wage flexibility is initially constructed and then modified through nominal wage and price rigidities. The ability of the models to replicate important features of the business cycle activity in UK and Canada is explored through statistical and econometric analysis. Evidence suggests that a monetary shock under a Taylor model with price stickiness can replicate a significant portion of the business cycle activity in both UK and Canada. 220 pp. Englisch. Nº de ref. del artículo: 9783843379809
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NEOCLASSICAL AND KEYNESIAN DYNAMICS FOR A SMALL OPEN ECONOMY : THEORY AND EVIDENCE
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Descripción Taschenbuch. Condición: Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - The current monograph compares the predictions of various dynamic stochastic general equilibrium (DSGE) models with a view to developing an improved understanding of observed fluctuations in small open economies. An analytical framework, synthesising both neoclassical and Keynesian approaches, is proposed resulting in the construction of four different DSGE models, the predictions of which can be tested in the context of any small open economy. For definiteness, the current research focuses exclusively on the two small open economies of UK and Canada. A DSGE model with full price and wage flexibility is initially constructed and then modified through nominal wage and price rigidities. The ability of the models to replicate important features of the business cycle activity in UK and Canada is explored through statistical and econometric analysis. Evidence suggests that a monetary shock under a Taylor model with price stickiness can replicate a significant portion of the business cycle activity in both UK and Canada. Nº de ref. del artículo: 9783843379809
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NEOCLASSICAL AND KEYNESIAN DYNAMICS FOR A SMALL OPEN ECONOMY
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Descripción Condición: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. Autor/Autorin: LITSIOS IOANNISIoannis Litsios is currently a lecturer in the Department of Economics at the University of Essex, U.K. He received his PhD in Economics from the University of Essex and his M.A in Finance and Investment from the Un. Nº de ref. del artículo: 5467840
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NEOCLASSICAL AND KEYNESIAN DYNAMICS FOR A SMALL OPEN ECONOMY
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ISBN 13: 9783843379809
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