Results 81 to 90 of about 37,604 (320)
Macroeconomic forecasting during recessions and expansions in the US and the euro area
Economic Inquiry, EarlyView.Abstract This study systematically evaluates forecasting performance of 11 Dynamic Stochastic General Equilibrium (DSGE) and 2 Bayesian Vector Autoregression (BVAR) models during recessions and expansions in the US and the euro area. Results show that no single model dominates: parsimonious models perform well in stable periods and at short horizons ...
Jan Čapek +2 more
wiley +1 more source
Stability and Identification with Optimal Macroprudential Policy Rules [PDF]
, 2014 This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing
Chatelain, Jean-Bernard, Ralf, Kirsten
core +7 more sources
Can Central Bank Digital Currencies Promote the Internationalization of Currencies?
European Financial Management, EarlyView.ABSTRACT Using multinational data (2000–2023), this study employed system GMM and fixed‐effects models to examine CBDC's impact on currency internationalization through a framework measuring ‘market acceptance’ and ‘policy drive.’ The results indicated that CBDC advancement significantly promotes currency internationalization.
Haodong Gu
wiley +1 more source
Book Review of Introduction to Dynamic Macroeconomic General Equilibrium Models. (2nd Ed) Wilmington, DE: Vernon Press, 2015. 282pp ISBN: 978-1-62273-030-8 (Hardcover) written by Josh L. Torres [PDF]
, 2017 The book is very well structured to support practical skills development in understanding DSGE modelling through exercises to graduate a user knowledge on macroeconomic application relevant for policy decisions through use of scientific programs like ...
Jackson, Emerson Abraham
core +1 more source
, 2017 Current grammar-based NeuroEvolution approaches have several shortcomings. On the one hand, they do not allow the generation of Artificial Neural Networks (ANNs composed of more than one hidden-layer. On the other, there is no way to evolve networks with
Assuncao Filipe +7 more
core +1 more source
Non‐stationary Hours in a DSGE Model [PDF]
Journal of Money, Credit and Banking, 2006 The time series fit of dynamic stochastic general equilibrium (DSGE) models often suffers from restrictions on the long‐run dynamics that are at odds with the data. Using Bayesian methods we estimate a stochastic growth model in which hours worked are stationary and a modified version with permanent labor supply shocks. If firms can freely adjust labor
Yongsung Chang +2 more
openaire +3 more sources
How Does Progressivity Affect the Tax Cut Multiplier?
International Economic Review, EarlyView.ABSTRACT How does the targeting of personal income tax cuts affect the output multiplier? This paper provides quantitative evidence using a heterogeneous‐agent New‐Keynesian model calibrated to match US distributions of income, wealth, marginal tax rates, and marginal propensities to consume.
Christian Gillitzer
wiley +1 more source
Macroeconomic Effects of Maritime Transport Costs Shocks: Evidence from the South Korean Economy
Mathematics, 2023 In the aftermath of the COVID-19 pandemic, the dramatic increase in maritime transport costs might potentially exert detrimental impacts on the macroeconomy, especially for countries that heavily rely on international trade for their consumption and ...
Xingong Ding, Yong-Jae Choi
doaj +1 more source
Shadow banking and financial regulation: A small-scale DSGE perspective
Journal of Economic Dynamics and Control, 2019 This paper estimates a small-scale DSGE model of the US economy with interacting traditional and shadow banks. We find that shadow banks amplify the transmission of structural shocks by helping escape constraints from traditional intermediaries.
P. Fève, Alban Moura, O. Pierrard
semanticscholar +1 more source
Macroeconomic forecasting in the euro area using predictive combinations of DSGE models
International Journal of Forecasting, 2020 We provide a comprehensive assessment of the predictive ability of combinations of Dynamic Stochastic General Equilibrium (DSGE) models for GDP growth, inflation and the interest rate in the euro area.
J. Čapek +3 more
semanticscholar +1 more source