The General-Equilibrium Model of the New Synthesis: What Hypotheses Should We Choose? (notice n° 468606)
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| fixed length control field | 01620cam a2200205 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121053608.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Moyen, Stéphane |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | The General-Equilibrium Model of the New Synthesis: What Hypotheses Should We Choose? |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2008.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 1 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | This article has a twofold purpose. First, it describes the general-equilibrium model of the “new synthesis,” which has rapidly become a true benchmark for macroeconomic analysis in areas such as economic-policy simulation and inflation forecasting. Second, it seeks to identify the contribution of nominal and real rigidities to the good performance of this type of model, using the marginal-likelihood criterion and the inspection of moments of order two. The main results are as follows: (1) the combination of rigid and indexed prices and rigid wages is essential to the quality of the model’s fit to the data; (2) the only hypotheses needed are habit formation for consumption and adjustment costs for investment, the second hypothesis being crucial for reproducing real and nominal dynamics; (3) by introducing strategic complementarity, we can obtain a degree of nominal rigidity closer to that observed on macroeconomic data. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | nominal rigidities |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | real rigidities |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | DSGE models |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Sahuc, Jean-Guillaume |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Economie & prévision | o 183-184 | 2 | 2008-10-13 | p. 15-34 | 0249-4744 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-economie-et-prevision-1-2008-2-page-15?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-economie-et-prevision-1-2008-2-page-15?lang=en&redirect-ssocas=7080</a> |
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