Technology shocks in the New Keynesian model

Review of Economics and Statistics

Volumn 86, Issue 4, 2004, Pages 923-936

  Ireland, Peter N ^a  

^a NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 11144258906     PISSN: 00346535     EISSN: None     Source Type: Journal    
DOI: 10.1162/0034653043125158     Document Type: Review

References (36)

1. Ball, Laurence, and N. Gregory Mankiw, "The NAIRU in Theory and Practice," Journal of Economic Perspectives 16 (Fall 2002), 115-136.
2. Basu, Susanto, John Fernald, and Miles Kimball, "Are Technology Improvements Contractionary?" Federal Reserve Board international finance discussion paper no. 625 (Washington, 1998).
3. Blanchard, Olivier Jean, and Charles M. Kahn, "The Solution of Linear Difference Models under Rational Expectations," Econometrica 48 (July 1980), 1305-1311.
4. Calvo, Guillermo A., "Staggered Prices in a Utility-Maximizing Frame-work," Journal of Monetary Economics 12 (September 1983), 383-398.
5. Clarida, Richard, Jordi Gali, and Mark Gertler, "The Science of Monetary Policy: A New Keynesian Perspective," Journal of Economic Literature 37 (December 1999), 1661-1707.
6. _ "Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory," Quarterly Journal of Economics 115 (February 2000), 147-180.
7. Cooley, Thomas P., and Gary D. Hansen, "The Inflation Tax in a Real Business Cycle Model," American Economic Review 79 (September 1989), 733-748.
8. Driscoll, John C., "On the Microfoundations of Aggregate Demand and Aggregate Supply," Brown University manuscript (Providence, RI, 2000).
9. Francis, Neville, and Valerie A. Ramey, "Is the Technology-Driven Real Business Cycle Hypothesis Dead? Shocks and Aggregate Fluctuations Revisited," University of California at San Diego manuscript (2003).
10. Fuhrer, Jeffrey C., and George R. Moore, "Monetary Policy Trade-offs and the Correlation between Nominal Interest Rates and Real Output," American Economic Review 85 (March 1995), 219-239.
11. Gali, Jordi, "Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?" American Economic Review 89 (March 1999), 249-271.
12. _ "New Perspectives on Monetary Policy, Inflation, and the Business Cycle," National Bureau of Economic Research working paper no. 8767 (2002).
13. Gali, Jordi, and Mark Gertler, "Inflation Dynamics: A Structural Econometric Analysis," Journal of Monetary Economics 44 (October 1999), 195-222.
14. Gali, Jordi, J. David Lopez-Salido, and Javier Valles, "Technology Shocks and Monetary Policy: Assessing the Fed's Performance," Journal of Monetary Economics 50 (May 2003), 723-743.
15. Hamilton, James D., Time Series Analysis (Princeton: Princeton University Press, 1994).
16. Ireland, Peter N., "Interest Rates, Inflation, and Federal Reserve Policy since 1980," Journal of Money, Credit, and Banking 32 (August 2000, Part 1), 417-434.
17. _ "Sticky-Price Models of the Business Cycle: Specification and Stability," Journal of Monetary Economics 47 (February 2001), 3-18.
18. _ "Money's Role in the Monetary Business Cycle," Boston College manuscript (Chestnut Hill, MA, 2002a).
19. _ "Technology Shocks in the New Keynesian Model," Boston College, Department of Economics, working paper no. 536 (Chestnut Hill, MA, 2002b).
20. Kerr, William, and Robert G. King, "Limits on Interest Rate Rules in the IS Model," Federal Reserve Bank of Richmond Economic Quarterly 82 (Spring 1996), 47-75.
21. Kim, Chang-Jin, and Charles R. Nelson, "Has the U.S. Economy Become More Stable? A Bayesian Approach Based on a Markov-Switching Model of the Business Cycle," this REVIEW, 81 (November 1999), 608-616.
22. King, Robert G., Charles I. Plosser, and Sergio T. Rebelo, "Production, Growth and Business Cycles: I. The Basic Neoclassical Model," Journal of Monetary Economics 21 (January 1988), 195-232.
23. Klein, Paul, "Using the Generalized Schur Form to Solve a Multivariate Linear Rational Expectations Model," Journal of Economic Dynamics and Control 24 (September 2000), 1405-1423.
24. Kydland, Finn E., and Edward C. Prescott, "Time to Build and Aggregate Fluctuations," Econometrica 50 (November 1982), 1345-1370.
25. Long, John B., Jr., and Charles I. Plosser, "Real Business Cycles," Journal of Political Economy 91 (February 1983), 39-69.
26. McCallum, Bennett T., "Price Level Determinacy with an Interest Rate Policy Rule and Rational Expectations," Journal of Monetary Economics 8 (November 1981), 319-329.
27. McCallum, Bennett T., and Edward Nelson, "An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis," Journal of Money, Credit, and Banking 31 (August 1999, part 1), 296-316.
28. McConnell, Margaret M., and Gabriel Perez-Quiros, "Output Fluctuations in the United States: What Has Changed since the Early 1980's?" American Economic Review 90 (December 2000), 1464-1476.
29. Parkin, Michael. "A Comparison of Alternative Techniques of Monetary Control Under Rational Expectations," Manchester School of Economic and Social Studies 46 (September 1978), 252-287.
30. Rotemberg, Julio J., "Sticky Prices in the United States," Journal of Political Economy 90 (December 1982), 1187-1211.
31. Smets, Frank, and Raf Wouters, "An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area," Journal of the European Economic Association 1 (September 2003), 1123-1175.
32. Steinsson, Jon, "Optimal Monetary Policy in an Economy with Inflation Persistence," Journal of Monetary Economics 50 (October 2003), 1425-1456.
33. Stock, James H., and Mark W. Watson, "Has the Business Cycle Changed and Why?" (pp. 159-218), in NBER Macroeconomics Annual 2002 (Cambridge, MA: MIT Press, 2003).
34. Taylor, John B., "Discretion versus Policy Rules in Practice," Carnegie-Rochester Conference Series on Public Policy 39 (December 1993), 195-214.
35. Weil, Philippe, "The Equity Premium Puzzle and the Risk-Free Rate Puzzle," Journal of Monetary Economics 24 (November 1989), 401-421.
36. Woodford, Michael, Interest and Prices: Foundations of a Theory of Monetary Policy (Princeton: Princeton University Press, 2003).