Results 91 to 100 of about 19,619 (152)

Monetary policy in an uncertain world: Probability models and the design of robust monetary rules. [PDF]

The past forty years or so has seen a remarkable transformation in macro-models used by central banks, policymakers and forecasting bodies. This papers describes this transformation from reduced-form behavioural equations estimated separately, through to
Levine, Paul
core  

Effect of Financial Frictions on Monetary Policy Conduct: A Comparative Analysis of DSGE Models with and without Financial Frictions

Economies
In this study, we explored the impact of bank leverage and financial frictions on the transmission of real and financial shocks. Two new Keynesian dynamic stochastic general equilibrium (DSGE) models, with and without financial frictions, were employed ...
Salha Ben Salem, Sonia Sayari, Moez Labidi   +2 more
doaj   +1 more source

Hysteresis in economics: Analysis of the relationship between business cycles, economic growth, and economic policy

Вестник Пермского университета: Серия Экономика
Introduction. The article analyzes the relationship between business cycles and economic growth, and reviews the evolution of this issue from the traditional denial of any connection to an alternative theory known as hysteresis.
Anastasiia Alexsandrovna Pankratova
doaj   +1 more source

Bayesian Estimation of DSGE Models [PDF]

We survey Bayesian methods for estimating dynamic stochastic general equilibrium (DSGE) models in this article. We focus on New Keynesian (NK)DSGE models because of the interest shown in this class of models by economists in academic and policy-making ...
James M Nason, Pablo A Guerron-Quintana
core  

The Impact Mechanism of Non-Economic Policies on Social and Investor Disagreement in China: A Dual Analysis Based on Empirical Evidence and DSGE Models

Systems
This study investigates the integration of non-economic policies into the framework for assessing macroeconomic coherence as applied by the Chinese government, with a particular focus on green policies.
Jianing Liu, Junjun Ma, Yafei Tai
doaj   +1 more source

Back to square one: identification issues in DSGE models [PDF]

We investigate identifiability issues in DSGE models and their consequences for parameter estimation and model evaluation when the objective function measures the distance between estimated and model impulse responses.
Fabio Canova, Luca Sala
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Complexity and monetary policy [PDF]

, 2012
The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the state of the economy defines the monetary policy landscape.
Orphanides, Athanasios, Wieland, Volker
core   +1 more source

Take your model bowling: forecasting with general equilibrium models [PDF]

During the past two decades, dynamic stochastic general equilibrium (DSGE) models have taken center stage in academic macroeconomics. Nonetheless, these models are still rarely used in policy-making and forecasting.
Frank Schorfheide, Marco Del Negro
core  

Combining Multivariate Density Forecasts Using Predictive Criteria [PDF]

This paper combines multivariate density forecasts of output growth, inflation and interest rates from a suite of models. An out-of-sample weighting scheme based on the predictive likelihood as proposed by Eklund and Karlsson (2007) and Andersson and ...
Hugo Gerard, Kristoffer Nimark
core   +3 more sources

The Time Varying Volatility of Macroeconomic Fluctuations [PDF]

In this paper we investigate the sources of the important shifts in the volatility of U.S. macroeconomic variables in the postwar period. To this end, we propose the estimation of DSGE models allowing for time variation in the volatility of the ...
Alejandro Justiniano, Northwestern University   +1 more
core   +3 more sources