The cross-correlation between output and nominal variables in new keynesian models calibrated to Brazil and the U.S.
This paper investigates if the interaction between habit formation and a forward-looking Taylor rule can mimic the observed dynamic correlations between output and nominal variables (inflation and interest rates) in Brazil and in the U.S. I carry out the analysis in a new Keynesian model under stick...
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| Format: | Article |
| Language: | Portuguese |
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Universidade de São Paulo
2011-12-01
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| Series: | Economia Aplicada |
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| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1413-80502011000400001 |
