KS1519
April 14, 2024, 8:47am
92
I found the following link where someone has tried to map Monaceeli (2005)'s model and was facing similar issues but I could not find a reply to that question
I am trying to replicate “Monetary Policy in a Low Pass-through Environment” by Monacelli. Largely similar to Gali Monacelli 2005 but with imperfect exchange rate pass-through.
jstor.org/stable/3839027?seq … b_contents
or
ecb.europa.eu/pub/pdf/scpwp … 74e0f7ab1a
I am having trouble identifying the equilibrium conditions as I don’t want to use the combined aggregate demand or supply equations. Instead i would like to be able to make changes (for example) to the euler equation later or view se…