Realized and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom

Material TypeArticleLanguageEnglish
TitleRealized and Optimal Monetary Policy Rules in an Estimated Markov-Switching DSGE Model of the United Kingdom Author(S)XIAOSHAN CHEN (Author)
Abstract  This paper investigates underlying changes in the UK economy over the past 35 years using a small open economy dynamic stochastic general equilibrium model. Using Bayesian analysis, we find UK monetary policy, nominal price rigidity and exogenous shocks, are all subject to regime shifts ...Paginationp1091–1116
SubjectEconomicsDescriptorsEconomics
Journal TitleJournal of Money, Credit, and Banking  
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