Optima Monetary Policy Rules: A New Keynesian Model With Labor MarketFrictions and Worker Heterogeneity

最优货币政策规则:考虑劳动力市场摩擦和工人异质性的新凯恩斯主义模型

基本信息

  • 批准号:
    23730197
  • 负责人:
  • 金额:
    $ 2.58万
  • 依托单位:
  • 依托单位国家:
    日本
  • 项目类别:
    Grant-in-Aid for Young Scientists (B)
  • 财政年份:
    2011
  • 资助国家:
    日本
  • 起止时间:
    2011 至 2012
  • 项目状态:
    已结题

项目摘要

This project studies the optimal monetary policy in a framework with search frictions and worker’s heterogeneity. To do so, firstly I empirically investigate important time series prosperities of unemployment rates and wages for different types of workers. Moreover, I estimate the effects of productivity and monetary policy shocks on these variables. I then develop a dynamic stochastic general equilibrium model and calibrate it based on U.S. data. Our results indicate that model predictions are consistent with most of our empirical findings. Lastly, I examine the performance of several different types of monetary policy rules under this framework. The results imply that a monetary policy which focusing on reducing the fluctuations of both unemployment rates and inflation is optimal.研究分野: 社会科学 科研費の分科・細目:経済学・理論経済学キーワード: マクロ経済学、動学一般均衡モデル、金融政策、労働経済学
This project studies the optimal monetary policy in a framework with search frictions and worker’s heterogeneity. To do so, firstly I empirically investigate important time series prosperities of unemployment rates and wages for different types of workers. Moreover, I estimate the effects of productivity and monetary policy shocks on these variables. I then develop a dynamic stochastic general equilibrium model and calibrate it based on U.S. data. Our results indicate that model predictions are consistent with most of our empirical findings. Lastly, I examine the performance of several different types of monetary policy rules under this framework. The results imply that a monetary policy which focuses on reducing the fluctuations of both unemployment rates and inflation is optimal.

项目成果

期刊论文数量(0)
专著数量(0)
科研奖励数量(0)
会议论文数量(0)
专利数量(0)
Gross worker flows and unemployment dynamics in Japan
日本的总劳动力流动和失业动态
Estimating a Search and Matching Model of the Aggregate Labor Market in Japan
估计日本劳动力市场总量的搜索和匹配模型
Gross worker flows and unemployment dynamics in Japan Original Research
日本的总劳动力流动和失业动态 原创研究
  • DOI:
  • 发表时间:
    2012
  • 期刊:
  • 影响因子:
    2.9
  • 作者:
    Lin C.Y. and Miyamoto;H.;Ching-Yang Lin & Hiroki Miyamoto;Ching-Yang Lin & Hiroaki Miyamoto;Lin,Ching-Yang and Miyamoto,Hiroaki
  • 通讯作者:
    Lin,Ching-Yang and Miyamoto,Hiroaki
International Research Seminar: General equilibrium and optimality in monopolistic competition theory
国际研究研讨会:垄断竞争理论中的一般均衡与最优性
  • DOI:
  • 发表时间:
    2012
  • 期刊:
  • 影响因子:
    0
  • 作者:
  • 通讯作者:
How Do Income and Bequest Taxes Affect Income Inequality? The Role of Parental Transfers
所得税和遗赠税如何影响收入不平等?
  • DOI:
  • 发表时间:
  • 期刊:
  • 影响因子:
    0
  • 作者:
    Lin;Ching-Yang
  • 通讯作者:
    Ching-Yang
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