The aim of the dissertation is to investigate the implication of limited asset market partecipation and habit formation in consumption for the monetary policy in new keynesian DSGE models. It emerges that the combination of this two ingredients has important implication on the stability properties of the model and its performance in replicating the business cycle dynamics.
(2010). Three essays on Rt consumers, habit formation and the business cycle. (Tesi di dottorato, Università degli Studi di Milano-Bicocca, 2010).
Three essays on Rt consumers, habit formation and the business cycle
MOTTA, GIORGIO ENRICO
2010
Abstract
The aim of the dissertation is to investigate the implication of limited asset market partecipation and habit formation in consumption for the monetary policy in new keynesian DSGE models. It emerges that the combination of this two ingredients has important implication on the stability properties of the model and its performance in replicating the business cycle dynamics.
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