I am trying to make a new keynesian model and calibrate these parameters towards the uk between the years of 1974 and 2016, but I am struggling to find these values. Where can I find the data for this? I have also heard that we can use empirically standard values, but I am not sure as to where I should look for them.
That is not straightforward. Some of the steady state values usually follow from the structural parameter values assigned or are based on long-run averages. The tricky part are shock processes, which are typically not observed. Either, you have some evidence outside of the model you can use (like values from other papers) or you need to estimate them with the model.
