Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/323256 
Autor:innen: 
Erscheinungsjahr: 
2014
Quellenangabe: 
[Journal:] Research in Economics [ISSN:] 1090-9451 [Volume:] 68 [Issue:] 1 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2014 [Pages:] 39-56
Verlag: 
Elsevier, Amsterdam
Zusammenfassung: 
We propose a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model where a risk aversion shock enters a separable utility function. We analyze five periods from 1971 through 2011, each lasting for 20 years, to follow over time the dynamics of several parameters such as the risk aversion parameter; the Taylor rule coefficients; and the role of the risk aversion shock in output, inflation, interest rate, and real money balances in the Eurozone. Our analysis suggests that risk aversion was a more important component of output and real money balance dynamics between 2006 and 2011 than it was between 1971 and 2006, at least in the short run.
Schlagwörter: 
Risk aversion shock
Output
Money
Eurozone
New Keynesian model
DSGE models
Bayesian estimation
Euro area
Role of money
JEL: 
E23
E31
E51
D81
E44
E59
DOI der veröffentlichten Version: 
Dokumentart: 
Article
Dokumentversion: 
Accepted Manuscript (Postprint)
Erscheint in der Sammlung:

Datei(en):
Datei
Größe





Publikationen in EconStor sind urheberrechtlich geschützt.