{"id":"https://openalex.org/W2170797650","doi":"https://doi.org/10.1111/j.1468-0084.2006.00440.x","title":"The New Keynesian Model and the Euro Area Business Cycle*","display_name":"The New Keynesian Model and the Euro Area Business Cycle*","publication_year":2006,"publication_date":"2006-12-12","ids":{"openalex":"https://openalex.org/W2170797650","doi":"https://doi.org/10.1111/j.1468-0084.2006.00440.x","mag":"2170797650"},"language":"en","primary_location":{"id":"doi:10.1111/j.1468-0084.2006.00440.x","doi":"https://doi.org/10.1111/j.1468-0084.2006.00440.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1468-0084.2006.00440.x","pdf_url":null,"source":{"id":"https://openalex.org/S92565720","display_name":"Oxford Bulletin of Economics and Statistics","issn_l":"0305-9049","issn":["0305-9049","1468-0084"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","dongbi-c","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Oxford Bulletin of Economics and Statistics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5012897141","display_name":"Miguel Casares","orcid":"https://orcid.org/0000-0002-3672-4196","observed_orcids":["https://orcid.org/0000-0002-3672-4196"]},"institutions":[{"id":"https://openalex.org/I175051016","display_name":"Universidad P\u00fablica de Navarra (UPNA)","ror":"https://ror.org/02z0cah89","country_code":"ES","type":"education","lineage":["https://openalex.org/I175051016"]}],"countries":["ES"],"is_corresponding":true,"raw_author_name":"Miguel Casares","raw_affiliation_strings":["Departamento de Economi\u0301a, Universidad Pu\u0301blica de Navarra, Pamplona, Spain (e-mail: [email protected] )","Departamento de Econom\u00eda, Universidad P\u00fablica de Navarra, Pamplona, Spain (e-mail: [email protected])"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Departamento de Economi\u0301a, Universidad Pu\u0301blica de Navarra, Pamplona, Spain (e-mail: [email protected] )","institution_ids":["https://openalex.org/I175051016"]},{"raw_affiliation_string":"Departamento de Econom\u00eda, Universidad P\u00fablica de Navarra, Pamplona, Spain (e-mail: [email protected])","institution_ids":["https://openalex.org/I175051016"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5012897141"],"corresponding_institution_ids":["https://openalex.org/I175051016"],"apc_list":{"value":3840,"currency":"USD","value_usd":3840},"apc_paid":null,"fwci":1.2664,"has_fulltext":false,"cited_by_count":8,"citation_normalized_percentile":{"value":0.88357363,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":96},"biblio":{"volume":"69","issue":"2","first_page":"209","last_page":"244"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.0017999999690800905,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.00039999998989515007,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/new-keynesian-model","display_name":"New Keynesian model","score":0.9909999966621399},{"id":"https://openalex.org/keywords/endogenous-capital-accumulation","display_name":"endogenous capital accumulation","score":0.9909999966621399},{"id":"https://openalex.org/keywords/impulse-response-functions","display_name":"impulse response functions","score":0.8709999918937683},{"id":"https://openalex.org/keywords/variance-decomposition","display_name":"variance decomposition","score":0.8140000104904175},{"id":"https://openalex.org/keywords/model-calibration","display_name":"model calibration","score":0.699999988079071}],"concepts":[{"id":"https://openalex.org/C10688316","wikidata":"https://www.wikidata.org/wiki/Q936174","display_name":"New Keynesian economics","level":3,"score":0.8442664742469788},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8264665603637695},{"id":"https://openalex.org/C83873408","wikidata":"https://www.wikidata.org/wiki/Q192311","display_name":"Business cycle","level":2,"score":0.7170971632003784},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.5554547905921936},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.5553231239318848},{"id":"https://openalex.org/C89715816","wikidata":"https://www.wikidata.org/wiki/Q7915763","display_name":"Variance decomposition of forecast errors","level":2,"score":0.5538178086280823},{"id":"https://openalex.org/C159877910","wikidata":"https://www.wikidata.org/wiki/Q2202883","display_name":"Autoregressive model","level":2,"score":0.547211229801178},{"id":"https://openalex.org/C72279823","wikidata":"https://www.wikidata.org/wiki/Q1139726","display_name":"Impulse response","level":2,"score":0.5446438789367676},{"id":"https://openalex.org/C2776036281","wikidata":"https://www.wikidata.org/wiki/Q48769818","display_name":"Constraint (computer-aided design)","level":2,"score":0.49756935238838196},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.47787967324256897},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.4593731164932251},{"id":"https://openalex.org/C196083921","wikidata":"https://www.wikidata.org/wiki/Q7915758","display_name":"Variance (accounting)","level":2,"score":0.44726812839508057},{"id":"https://openalex.org/C2778774626","wikidata":"https://www.wikidata.org/wiki/Q220841","display_name":"Phillips curve","level":3,"score":0.43351277709007263},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3715311288833618},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.3610866069793701},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.08846911787986755},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C134306372","wikidata":"https://www.wikidata.org/wiki/Q7754","display_name":"Mathematical analysis","level":1,"score":0.0},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C2524010","wikidata":"https://www.wikidata.org/wiki/Q8087","display_name":"Geometry","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/j.1468-0084.2006.00440.x","doi":"https://doi.org/10.1111/j.1468-0084.2006.00440.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1468-0084.2006.00440.x","pdf_url":null,"source":{"id":"https://openalex.org/S92565720","display_name":"Oxford Bulletin of Economics and Statistics","issn_l":"0305-9049","issn":["0305-9049","1468-0084"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","dongbi-c","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Oxford Bulletin of Economics and Statistics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:bla:obuest:v:69:y:2007:i:2:p:209-244","doi":null,"is_oa":false,"landing_page_url":"http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0084.2006.00440.x","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":57,"referenced_works":["https://openalex.org/W1482312578","https://openalex.org/W1485676192","https://openalex.org/W1504267436","https://openalex.org/W1523310658","https://openalex.org/W1528260510","https://openalex.org/W1968179791","https://openalex.org/W1976140283","https://openalex.org/W1988948335","https://openalex.org/W1995278743","https://openalex.org/W2024892824","https://openalex.org/W2038998530","https://openalex.org/W2045093715","https://openalex.org/W2046336774","https://openalex.org/W2058780864","https://openalex.org/W2074381739","https://openalex.org/W2079558694","https://openalex.org/W2079768115","https://openalex.org/W2087447044","https://openalex.org/W2089853409","https://openalex.org/W2109692546","https://openalex.org/W2116573531","https://openalex.org/W2117360332","https://openalex.org/W2127680685","https://openalex.org/W2134622247","https://openalex.org/W2135814741","https://openalex.org/W2138520443","https://openalex.org/W2140898820","https://openalex.org/W2144395073","https://openalex.org/W2146207816","https://openalex.org/W2149530077","https://openalex.org/W2152569218","https://openalex.org/W2155019058","https://openalex.org/W2890816438","https://openalex.org/W3023652150","https://openalex.org/W3121293400","https://openalex.org/W3121926198","https://openalex.org/W3122152415","https://openalex.org/W3122501817","https://openalex.org/W3122744394","https://openalex.org/W3123139604","https://openalex.org/W3123935426","https://openalex.org/W3124097536","https://openalex.org/W3124603205","https://openalex.org/W3124765495","https://openalex.org/W3124848542","https://openalex.org/W3125561991","https://openalex.org/W3128689411","https://openalex.org/W3150128453","https://openalex.org/W4241115065","https://openalex.org/W4247765758","https://openalex.org/W4247881770","https://openalex.org/W4248368005","https://openalex.org/W4285719527","https://openalex.org/W4302042934","https://openalex.org/W6601657841","https://openalex.org/W6603996408","https://openalex.org/W6637049153"],"related_works":["https://openalex.org/W607172922","https://openalex.org/W162801556","https://openalex.org/W7101193918","https://openalex.org/W2292803511","https://openalex.org/W2603843419","https://openalex.org/W6989750486","https://openalex.org/W2257104352","https://openalex.org/W2165774025","https://openalex.org/W7098040061","https://openalex.org/W7097386974"],"abstract_inverted_index":{"Abstract":[0],"This":[1],"paper":[2],"describes":[3],"a":[4,12,65,93],"New":[5,21],"Keynesian":[6,22],"model":[7,23,33,70],"incorporating":[8],"transactions\u2010facilitating":[9,84],"money":[10,85],"and":[11,46,92],"time\u2010to\u2010build":[13,66],"constraint":[14],"into":[15],"endogenous":[16],"capital":[17],"accumulation.":[18],"The":[19,62],"calibrated":[20],"performs":[24],"almost":[25],"as":[26,28,44],"well":[27,52],"the":[29,55,69,81,98],"estimated":[30],"vector":[31],"autoregressive":[32],"in":[34,53,68],"replicating":[35],"Euro":[36,77],"area":[37,78],"cyclical":[38],"correlations":[39],"between":[40],"key":[41],"variables":[42],"such":[43],"output":[45],"inflation,":[47],"although":[48],"it":[49],"fares":[50],"less":[51,88],"predicting":[54],"procyclical":[56],"dynamics":[57],"of":[58,64,83,95],"nominal":[59],"interest":[60],"rates.":[61],"presence":[63],"requirement":[67],"helps":[71],"to":[72,76],"improve":[73],"its":[74],"fit":[75],"data,":[79],"whereas":[80],"role":[82],"is":[86],"much":[87],"important.":[89],"Impulse\u2013response":[90],"functions":[91],"decomposition":[94],"variance":[96],"complete":[97],"analysis.":[99]},"counts_by_year":[{"year":2021,"cited_by_count":1},{"year":2017,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":1}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}