Results 11 to 20 of about 501 (184)
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
doaj +3 more sources
A DSGE Model for the Slovenian Economy: Model Estimates and Application
Economic and Business Review, 2019 The paper presents the estimation of a dynamic stochastic general equilibrium (DSGE) model for the Slovenian economy and its applications. The model, which is built in the tradition of New Keynesian models, closely follows the structure of the model ...
Andrej Kuštrin
doaj +4 more sources
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
openaire +2 more sources
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
openaire +2 more sources
Applied Economics, 2015 We use available methods for testing macro models to evaluate a model of China over the period from Deng Xiaoping’s reforms up until the crisis period. Bayesian ranking methods are heavily influenced by controversial priors on the degree of price/wage rigidity.
Dai, Li, Minford, Patrick, Zhou, Peng
openaire +7 more sources
The Econometrics of DSGE Models [PDF]
SSRN Electronic Journal, 2009 In this paper, I review the literature on the formulation and estimation of dynamic stochastic general equilibrium (DSGE) models with a special emphasis on Bayesian methods. First, I discuss the evolution of DSGE models over the last couple of decades.
openaire +7 more sources
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
doaj +7 more sources
On Identification of Bayesian DSGE Models [PDF]
Journal of Business & Economic Statistics, 2011 In recent years there has been increasing concern about the identification of parameters in dynamic stochastic general equilibrium (DSGE) models. Given the structure of DSGE models it may be difficult to determine whether a parameter is identified.
Koop, Gary +2 more
openaire +11 more sources
Predictive Likelihood Comparisons with DSGE and DSGE-VAR Models [PDF]
SSRN Electronic Journal, 2013 This paper shows how to compute the h-step-ahead predictive likelihood for any subset of the observed variables in parametric discrete time series models estimated with Bayesian methods. The subset of variables may vary across forecast horizons and the problem thereby covers marginal and joint predictive likelihoods for a fixed subset as special cases.
Warne, Anders +2 more
openaire +3 more sources
Potential Output in DSGE Models [PDF]
SSRN Electronic Journal, 2011 In view of the increasing use of Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic projections and the policy process, this paper examines, both conceptually and empirically, alternative notions of potential output within DSGE models.
Igor Vetlov +4 more
openaire +4 more sources