Detail práce

Monetary Policy Under Behavioral Expectations: An Empirical Validation of the Heuristic Switching Model

Autor: Bc. Sergey Bolshakov
Rok: 2020 - letní
Vedoucí: PhDr. Jiří Kukačka Ph.D.
Konzultant:
Typ práce: Bakalářská
Jazyk: Anglicky
Stránky: 70
Ocenění: Ocenění DOT Award za vynikající bakalářskou práci.
Odkaz: https://is.cuni.cz/webapps/zzp/detail/202751/
Abstrakt: This work takes one of the most prominent behavioral New-Keynesian models
from the shelf and estimates it via the simulated method of moments. The
model exhibits a remarkably good ft to the auto- and cross-covariance profles of the euro area macroeconomic time series, especially compared to the
standard rational expectations model. This result corroborates the claim that
central banks which implement strict infation targeting are better of reacting
to the output gap, on top of infation.
Leden 2022
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