@article{Rigidities:891,
      recid = {891},
      author = {Dib, Ali},
      title = {An Estimated Canadian DSGE Model with Nominal and Real  Rigidities},
      publisher = {Bank of Canada},
      address = {2001},
      pages = {1 online resource (iii, 44 pages)},
      abstract = {This paper develops a dynamic, stochastic,  general-equilibrium (DGSE) model for the Canadian economy  and evaluates the real effects of monetary policy shocks.  To generate high and persistent real effects, the model  combines nominal frictions in the form of costly price  adjustment with real rigidities modelled as convex costs of  adjusting capital and employment. The structural parameters  identifying transmission channels are estimated  econometrically using a maximum-likelihood procedure with a  Kalman filter. The estimated nominal and real rigidities  impart substantial real and persistent effects following a  monetary policy shock. Furthermore, the results show that  the monetary authority has accommodated technology shocks  and has successfully insulated the Canadian economy from  demand-side disturbances, by responding to technology and  money demand shocks.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/891},
      doi = {https://doi.org/10.34989/swp-2001-26},
}