Acta Universitatis Danubius. Œconomica, Vol. 13, No. 1
Abstract
The paper proposes the analysis of a Basic New Keynesian model with imperfect
competition in goods market and price adjustment mechanism for the macroeconomic context of
Romania, as an emerging country. Given the vulnerabilities of the economy of Romania at the
beginning and during the recent global economic and financial crisis, there is an increased interest to
identify models that can explain the main features of Romania macroeconomic data and to put an eye
on shocks that are really necessary to describe the stochastic dynamic of macroeconomic variables.
References
Basu, S.; Fernald, J. & Kimball, M. (2004). Are Technology Improvements Contractionary?.
American Economic Review, 96, no. 5, pp. 1418–1448.
Canova, F. (2007). Methods for Applied Macroeconomic Research. New Jersey: Princeton University
Press, pp. 1-45.
Gali, J. (2015). Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New
Keynesian Framework and Its Applications (Second Edition). Princeton University Press, pp. 41-70.
Gali, Jordi & Rabanal, Pau (2004). Technology Shocks and Aggregate Fluctuations: How Well Does
the RBC Model Fit Postwar U.S. Data?. NBER Macroeconomics Annual 2004, pp. 225–288.
Gali, J. (1999). Technology, Employment, and the Business Cycle: Do Technology Shocks Explain
Aggregate Fluctuations? American Economic Review, 89, no. 1, pp. 249–271.
Kimball, M. (1995). The quantitative analytics of the basic neo-monetarist model. Journal of Money,
Credit and Banking, 27(4), pp. 1241-1277.
Rotemberg, Julio (1982). Monopolistic Price Adjustment and Aggregate Output. Review of Economic
Studies, 49, pp. 517-531.
Sargent, T.J. (1989). Two models of measurements and the Investment Accelerator. Journal of
Political Economy, 97:2, pp. 251-287.
American Economic Review, 96, no. 5, pp. 1418–1448.
Canova, F. (2007). Methods for Applied Macroeconomic Research. New Jersey: Princeton University
Press, pp. 1-45.
Gali, J. (2015). Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New
Keynesian Framework and Its Applications (Second Edition). Princeton University Press, pp. 41-70.
Gali, Jordi & Rabanal, Pau (2004). Technology Shocks and Aggregate Fluctuations: How Well Does
the RBC Model Fit Postwar U.S. Data?. NBER Macroeconomics Annual 2004, pp. 225–288.
Gali, J. (1999). Technology, Employment, and the Business Cycle: Do Technology Shocks Explain
Aggregate Fluctuations? American Economic Review, 89, no. 1, pp. 249–271.
Kimball, M. (1995). The quantitative analytics of the basic neo-monetarist model. Journal of Money,
Credit and Banking, 27(4), pp. 1241-1277.
Rotemberg, Julio (1982). Monopolistic Price Adjustment and Aggregate Output. Review of Economic
Studies, 49, pp. 517-531.
Sargent, T.J. (1989). Two models of measurements and the Investment Accelerator. Journal of
Political Economy, 97:2, pp. 251-287.
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Published
2021-06-04
How to Cite
Collective Authors. (2021). Acta Universitatis Danubius. Œconomica, Vol. 13, No. 1: Array. Acta Universitatis Danubius. Œconomica, 13(1). Retrieved from https://dj.univ-danubius.ro/index.php/AUDOE/article/view/1126
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