Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 30 Apr 2018 My Price 7.00

AS/AD graph

Relating DSGE and AS/AD for a financial friction shock: Consider the complete dynamic response of the economy to a temporary rise in financial frictions in the AS/AD framework.

(a) Draw the AS/AD graph associated with this shock.

(b) Plot the impulse response function of GDP to this shock, according to the AS/AD model. You do not need to worry about numbers on the vertical axis; just show the general pattern as the economy moves after the shock and eventually returns to steady state.

(c) Plot the impulse response function of inflation to this shock, according to the AS/AD model.

(d) Compare your results in these two stylized plots to the impulse response function from the Smets-Wouters model shown in Figure 15.13.

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Apr 2018 09:04 PM My Price 7.00

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