| dc.creator |
Juselius, Mikael |
|
| dc.date |
2008 |
|
| dc.date.accessioned |
2013-10-16T06:58:01Z |
|
| dc.date.available |
2013-10-16T06:58:01Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
Economics: The Open-Access, Open-Assessment E-Journal 2 2008-24 1-26 doi:10.5018/economics-ejournal.ja.2008-24 |
|
| dc.identifier |
http://hdl.handle.net/10419/18037 |
|
| dc.identifier |
ppn:572548109 |
|
| dc.identifier |
http://www.economics-ejournal.org/economics/journalarticles/2008-24 |
|
| dc.identifier |
RePEc:zbw:ifweej:7350 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/18037 |
|
| dc.description |
I apply the Johansen and Swensen (1999, 2004) method of testing exact rational expectations within the cointegrated VAR (Vector Auto-Regressive) model, to testing the New Keynesian (NK) model. This method permits the testing of rational expectation systems, while allowing for non-stationary data. The NK-model is tested on quarterly U.S. and Euro area time series data. I find that the restrictions implied by the core equations of the NK-model are rejected regardless of sample periods or measures of real marginal costs. I also provide a tentative explanation of the results favored by previous researches. |
|
| dc.language |
eng |
|
| dc.publisher |
Kiel Institute for the World Economy (IfW) Kiel |
|
| dc.relation |
economics - The Open-Access, Open-Assessment E-Journal 2008-24 |
|
| dc.rights |
http://creativecommons.org/licenses/by-nc/2.0/de/deed.en |
|
| dc.subject |
C52 |
|
| dc.subject |
E52 |
|
| dc.subject |
E31 |
|
| dc.subject |
C32 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
New Keynesian Phillips curve |
|
| dc.subject |
cointegration |
|
| dc.subject |
vector autoregressive model |
|
| dc.subject |
New-Keynesian Phillips Curve |
|
| dc.subject |
Rationale Erwartung |
|
| dc.subject |
Kointegration |
|
| dc.subject |
VAR-Modell |
|
| dc.subject |
Schätzung |
|
| dc.subject |
USA |
|
| dc.subject |
EU-Staaten |
|
| dc.title |
Testing the New Keynesian Model on U.S. and Euro Area Data |
|
| dc.type |
doc-type:article |
|
| dc.coverage |
1970-2003 |
|
| dc.coverage |
1960-2005 |
|