Replicating Mankiw’s Textbook Dynamic Model: A Pedagogical Pathway to New Keynesian models

Faical Lakhchen

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Abstract: This paper presents a detailed replication of the dynamic model introduced in Mankiw's textbook (Chapter 14), the author introduces this model as a bridge between the simple IS-LM framework and the more advanced New Keynesian models. The accompanying Python code, developed for this replication, is made publicly available on my GitHub 1 , providing a resource for students and teachers to gain a foundational understanding of key concepts such as the Phillips curve, the IS curve, and the role of monetary policy in targeting inflation and stabilizing output.

Keywords: Dynamic Macroeconomic Model; New Keynesian Economics; Replication Study; Mankiw Model; Macroeconomic Pedagogy (search for similar items in EconPapers)
Date: 2024-08-26
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Published in 2024

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