Now showing items 1-3 of 3

  • Does US monetary policy respond to oil and food prices? 

    Kara, E (Elsevier, 2017-01-07)
    © 2016 Elsevier LtdA common view is that US monetary policy does not respond to changes in volatile energy and food prices. Despite this view, the popular New Keynesian models assume Taylor-type rules under which the ...
  • The Fiscal Multiplier in a Liquidity Constrained New Keynesian Economy 

    Kara, E; Sin, J (Wiley, 2016-07-11)
    We study the effects of fiscal policy on the macroeconomy using a liquidity constrained New Keynesian model in which government bonds are liquid and private financial assets are only partially liquid. We find that the ...
  • The reset inflation puzzle and the heterogeneity in price stickiness 

    Kara, E (Elsevier, 2015-08-11)
    New Keynesian models have been criticised on the grounds that they require implausibly large price shocks to explain inflation. Bils et al. (2012) show that, while these shocks are needed to reduce the excessive inflation ...