著者

飯星 博邦

出版者

首都大学東京大学院社会科学研究科経営学専攻 経営学会

雑誌

経営と制度 (ISSN:13491180)

巻号頁・発行日

no.15, pp.43-52, 2017-03-24

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Using a numerical method for policy function iteration proposed by Richter et al. (2014), a nonlinear new Keynesian model is simulated and extended to a Markov switching version, in order to examine the extent to which degree of confidence of agents change the effects of monetary and fiscal policies. When implementation of a specified policy rule is not strongly believed, economic activities might be more fluctuated, even though agents rationally behave.