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New Keynesian models and their fit to the data

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  • Richard Dennis

Abstract

In this Economic Letter, we discuss the basic properties of hybrid New Keynesian models and examine the extent to which they successfully explain U.S. macroeconomic data.

Suggested Citation

  • Richard Dennis, 2004. "New Keynesian models and their fit to the data," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jul9.
    • Handle: RePEc:fip:fedfel:y:2004:i:jul9:n:2004-17
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    References listed on IDEAS

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    1. Ben S. Bernanke & Julio J. Rotemberg (ed.), 1997. "NBER Macroeconomics Annual 1997," MIT Press Books, The MIT Press, edition 1, volume 1, number 026252242x, April.
    2. Ball, Laurence, 1991. "The Genesis of Inflation and the Costs of Disinflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 23(3), pages 439-452, August.
    3. Arturo Estrella & Jeffrey C. Fuhrer, 2002. "Dynamic Inconsistencies: Counterfactual Implications of a Class of Rational-Expectations Models," American Economic Review, American Economic Association, vol. 92(4), pages 1013-1028, September.
    4. Julio J. Rotemberg & Michael Woodford, 1997. "An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy," NBER Chapters, in: NBER Macroeconomics Annual 1997, Volume 12, pages 297-361, National Bureau of Economic Research, Inc.
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