Oil Shocks in New Keynesian Models: Positive and Normative Implications

منو

" Oil Shocks in New Keynesian Models: Positive and Normative Implications "

Document Type	:	Latin Dissertation
Language of Document	:	English
Record Number	:	149217
Doc. No	:	ET21009
Main Entry	:	Jian Chang, M.A.
Title Proper	:	Oil Shocks in New Keynesian Models: Positive and Normative Implications
Note	:	This document is digital این مدرک بصورت الکترونیکی می باشد
Abstract	:	Chapter 1 investigates optimal monetary policy response towards oil shocksin a New Keynesian model. We find that optimal policy, in general, becomescontractionary in response to an adverse oil shock. However, the optimal policy ruleand the inflation-output trade-off depend on the specific structure of the model.The benchmark economy consists of a flexible-price energy sector and a sticky-price manufacturing sector. We show that optimal policy is to stabilize the coreprice level. We then show that after incorporating a less oil-dependent sticky-price.
Subject	:	Electericl tess
	:	برق
electronic file name	:	TL44156.pdf
Title and statement of responsibility and	:	Oil Shocks in New Keynesian Models: Positive and Normative Implications [Thesis]