Optimal monetary policy in a New Keynesian model with animal spirits and financial markets

DOI10.1016/J.JEDC.2016.01.003MaRDI QIDQ1656771zbMATH OpenOpenAlexFDO

Authors Matthias Lengnick, Hans-Werner Wohltmann

Publication date 10 August 2018

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL http://hdl.handle.net/10419/104967

zbMATH Keywords

agent-based financial marketsmicrofoundationNew Keynesian macroeconomicsoptimal monetary policyunconventional monetary policy

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cites work

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• Animal spirits in the foreign exchange market
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• Four Alternative Policies to Restore Balance of Payments Equilibrium
• Heterogeneity of agents, transactions costs and the exchange rate
• Heterogeneous beliefs and routes to chaos in a simple asset pricing model
• Heterogeneous speculators, endogenous fluctuations and interacting markets: a model of stock prices and exchange rates
• Inflation-targeting rules: history-dependent or forward-looking?
• Interactions between the real economy and the stock market: a simple agent-based approach
• LEARNING TO FORECAST AND CYCLICAL BEHAVIOR OF OUTPUT AND INFLATION
• Schumpeter meeting Keynes: a policy-friendly model of endogenous growth and business cycles
• Stock market conditions and monetary policy in a DSGE model for the U.S.
• Structural stochastic volatility in asset pricing dynamics: estimation and model contest
• The bull and bear market model of Huang and Day: some extensions and new results
• The effectiveness of Keynes-Tobin transaction taxes when heterogeneous agents can trade in different markets: a behavioral finance approach

Cited in

(7)

• Volatility effects of news shocks in New Keynesian models with optimal monetary policy
• Monetary policy transmission in a model with animal spirits and house price booms and busts
• Robustly optimal monetary policy in a New Keynesian model with housing
• Real and financial interacting markets: a behavioral macro-model
• Leaning against the wind in the New Keynesian model with heterogeneous expectations
• Integrating real and financial markets in an agent-based economic model: An application to monetary policy design
• Optimal monetary policy in a New Keynesian model with job search

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