Evaluating a monetary business cycle model with unemployment for the euro area

Nicolas Groshenny

No 173, Working Paper Research from National Bank of Belgium

Abstract: This paper estimates a medium-scale DSGE model with search unemployment by matching model and data spectra. Price mark-up shocks emerge as the main source of business-cycle fluctuations in the euro area. Key factors in the propagation of these disturbances are a high degree of inflation indexation and a persistent response of monetary policy to deviations from the inflation target

Keywords: DSGE models; business cycles; frequency-domain analysis (search for similar items in EconPapers)
JEL-codes: C51 C52 E32 (search for similar items in EconPapers)
Pages: 49 pages
Date: 2009-07
New Economics Papers: this item is included in nep-cba, nep-dge, nep-eec, nep-mac, nep-mon and nep-opm
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Citations: View citations in EconPapers (3)

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Working Paper: Evaluating a monetary business cycle model with unemployment for the euro area (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:nbb:reswpp:200907-27

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