Nominal and real rigidities in monetary stochastic dynamic general equilibrium models of the business cycle [Elektronische Ressource] / von Michael Gail

Nominal and Real Rigidities inMonetary Stochastic DynamicGeneral Equilibrium Models of theBusiness CycleHabilitationsschriftzur Erlangung der Lehrbefugnis im FachVolkswirtschaftslehredurch den Fachbereich Wirtschaftswissenschaftender Universität SiegenvonDr. Michael GailSiegen, Juni 2004Contents1 Introduction 11.1 AdvancesinMacroeconomicTheory................... 11.2 TheEmpiricsoftheBusinesCycle. 31.3 Nominal and Real Rigidities and the Propagation of Monetary PolicyShocks...................................151.4 PlanoftheBook.202 Price Staggering in a Monetary Stochastic Dynamic General Equi-librium Model with Labor 232.1 Introduction................................232.2 TheModels....242.2.1 TheHousehold...............242.2.2 TheFinishedGoodsProducingFirm.......292.2.3 TheIntermediateGoodsProducingFirm............302.2.4 MarketClearingConditionsandOtherEquations32.2.5 TheMonetaryAuthority.....................32.2.6 TheSteadyState.......342.2.7 Calibration.................352.3 ImpulseResponseFunctions................362.3.1 CIA-Model.......362.3.1.1 GHHPreferences..372.3.1.2 CRRAPreferences...................392.3.2 MIU-Model..........402.3.2.1 GHHPreferences.........402.3.2.2 CRRAPreferences............422.4 BusinesCycleProperties.............432.5 Conclusions..............46ICONTENTS II3 Price Staggering in a Monetary Stochastic Dynamic General Equi-librium Model with Labor and Capital 603.1 Introduction...........................