Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/212141 
Autor:innen: 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
Bank of Finland Research Discussion Papers No. 20/2009
Verlag: 
Bank of Finland, Helsinki
Zusammenfassung: 
We estimate a new-Keynesian DSGE model with the cost channel to assess its ability to replicate the price puzzle ie the inflationary impact of a monetary policy shock typically arising in VAR analysis. In order to correctly identify the monetary policy shock, we distinguish between a standard policy rate shifter and a shock to trend inflation ie the time-varying inflation target set by the Fed. While offering some statistical support to the cost channel, our estimated model clearly implies a negative inflation reaction to a tightening of monetary policy. We offer a discussion of the possible sources of mismatch between the VAR evidence and our own.
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-952-462-525-8
Dokumentart: 
Working Paper

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