Replication data for: Optimal Monetary Policy Rules in an Estimated Sticky-Information Model
Principal Investigator(s): View help for Principal Investigator(s) Ricardo Reis
Version: View help for Version V1
Name | File Type | Size | Last Modified |
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AEJ_final | 10/12/2019 07:09:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 03:09:PM |
SIBE.zip | application/zip | 27.9 KB | 10/12/2019 03:09:PM |
SIGE.zip | application/zip | 12.7 KB | 10/12/2019 03:09:PM |
SIPR.zip | application/zip | 47.7 KB | 10/12/2019 03:09:PM |
Project Citation:
Reis, Ricardo. Replication data for: Optimal Monetary Policy Rules in an Estimated Sticky-Information Model. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114044V1
Project Description
Summary:
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This paper uses a dynamic stochastic general equilibrium (DSGE)
model with sticky information as a laboratory to study monetary
policy. It characterizes the model's predictions for macro dynamics
and optimal policy at prior parameters, and then uses data on
five US macroeconomic series to update the parameters and provide
an estimated model that can be used for policy analysis. The
model answers a few policy questions. How does sticky information
affect optimal monetary policy? What is the optimal interest rate
rule? What is the optimal elastic price-level targeting rule? How
does parameter uncertainty affect optimal policy? Are the conclusions
for the Euro area different? (JEL E13, E31, E43, E52)
Scope of Project
JEL Classification:
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E13 General Aggregative Models: Neoclassical
E31 Price Level; Inflation; Deflation
E43 Interest Rates: Determination, Term Structure, and Effects
E52 Monetary Policy
E13 General Aggregative Models: Neoclassical
E31 Price Level; Inflation; Deflation
E43 Interest Rates: Determination, Term Structure, and Effects
E52 Monetary Policy
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