Optima Monetary Policy Rules: A New Keynesian Model With Labor MarketFrictions and Worker Heterogeneity
| Project/Area Number |
23730197
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Economic theory
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| Research Institution | International University of Japan |
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Principal Investigator |
LIN Ching yang 国際大学, 国際関係学研究科, 講師 (70582287)
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| Project Period (FY) |
2011 – 2012
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| Project Status |
Completed (Fiscal Year 2012)
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| Budget Amount *help |
¥4,030,000 (Direct Cost: ¥3,100,000、Indirect Cost: ¥930,000)
Fiscal Year 2012: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2011: ¥2,600,000 (Direct Cost: ¥2,000,000、Indirect Cost: ¥600,000)
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| Keywords | マクロ経済学 / 動学一般均衡モデル / 金融政策 / 労働経済学 / サーチ及びマッチング / DSGEモデルDSEGモデル / 金融政策ルール |
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| Research Abstract |
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
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Report
(3 results)
Research Products
(11 results)
