Results 1 to 10 of about 446 (143)
Sankey diagrams for macroeconomics: A teaching complement bridging undergraduate and graduate Macro [PDF]
Heliyon, 2022 There is a widespread call in the academy to teach macroeconomics more homogeneously at the graduate and undergraduate levels. Current state-of-the-art research in macroeconomics obliges teachers of graduate courses to focus on dynamic stochastic general
Gonzalo F. de-Córdoba +1 more
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On the Low Degree of Entropy Implied by the Solutions of Modern Macroeconomic Models [PDF]
Entropy, 2022 The non-causal (“forward-looking”) solution used routinely in academic macroeconomics may represent a violation of a law of entropy, namely that the direction of time is one way (from the past and towards the present), and that the variance of economic ...
Ragnar Nymoen
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DSGE Models and Central Banks [PDF]
Economics: Journal Articles, 2008 AbstractOver the past 15 years there has been remarkable progress in the specification and estimation of dynamic stochastic general equilibrium (DSGE) models. Central banks in developed and emerging market economies have become increasingly interested in their usefulness for policy analysis and forecasting. This paper reviews some issues and challenges
Camilo E. Tovar
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Model Validation and DSGE Modeling
Econometrics, 2022 The primary objective of this paper is to revisit DSGE models with a view to bringing out their key weaknesses, including statistical misspecification, non-identification of deep parameters, substantive inadequacy, weak forecasting performance, and ...
Niraj Poudyal, Aris Spanos
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Bootstrapping DSGE Models [PDF]
SSRN Electronic Journal, 2016 This paper explores the potential of bootstrap methods in the empirical evalu- ation of dynamic stochastic general equilibrium (DSGE) models and, more generally, in linear rational expectations models featuring unobservable (latent) components. We consider two dimensions. First, we provide mild regularity conditions that suffice for the bootstrap Quasi-
Angelini, Giovanni +2 more
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Production Structure and Multiple Equilibria - A DSGE Perspective [PDF]
SHS Web of Conferences, 2023 This paper integrates the Austrian school’s production structure theory and financial market theory, considers the impact of heterogeneity of firms’ production cycles on economic fluctuations, constructs a DSGE model that incorporates production ...
Hu Quan, Wang Siwei
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Some notes on problematic issues in DSGE models [PDF]
Ekonomski Anali, 2016 We review some of the problematic issues in DSGE models, which are currently much discussed in the economics profession. All of these issues are concerned with the DSGE models’ (in)ability to match aspects of macroeconomic variables’ observed ...
Slanicay Martin +2 more
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DSGE Model-Based Forecasting [PDF]
SSRN Electronic Journal, 2012 Abstract Dynamic stochastic general equilibrium (DSGE) models use modern macroeconomic theory to explain and predict comovements of aggregate time series over the business cycle and to perform policy analysis. We explain how to use DSGE models for all three purposes – forecasting, story-telling, and policy experiments – and review their forecasting ...
Marco Del Negro, Frank Schorfheide
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Analysis of the Transmission Mechanism of Public Investments: The Case of the DSGE Model [PDF]
Финансовый журнал, 2023 This paper attempts to assess the impact of public investment within the framework of a simple DSGE model calibrated on Russian data. To this end, three versions of the DSGE model were constructed.
Anton I. Votinov +2 more
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Journal of Economic Perspectives, 2018 The outcome of any important macroeconomic policy change is the net effect of forces operating on different parts of the economy. A central challenge facing policymakers is how to assess the relative strength of those forces. Economists have a range of tools that can be used to make such assessments.
Lawrence Christiano +2 more
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