Journal Article
An estimated DSGE model for the United Kingdom
Abstract: The authors estimate the dynamic stochastic general equilibrium model of Christiano, Eichenbaum, and Evans (2005) on U.K. data. Their estimates suggest that price stickiness is a more important source of nominal rigidity in the United Kingdom than wage stickiness. Their estimates of parameters governing investment behavior are only well behaved when post-1979 observations are included, which reflects government policies until the late 1970s that obstructed the influence of market forces on investment.
Keywords: Economic policy - Great Britain; Equilibrium (Economics) - Mathematical models;
Status: Published in Proceedings of the Thirty-First Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis : Frontiers in Monetary Policy Research
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Bibliographic Information
Provider: Federal Reserve Bank of St. Louis
Part of Series: Review
Publication Date: 2007
Volume: 89
Issue: Jul
Pages: 215-232