Results 61 to 70 of about 486 (183)

Policy mix under stress: review of economic reactions to fiscal and monetary policies using DSGE

Entrepreneurship and Sustainability Issues
The paper aims to review the studies with a particular emphasis on the response of selected economies to the central bank's monetary policy and the government's fiscal policy during various economic shocks developed using DSGE models. Countries generally
Joanna Stawska, Paulo Reis Mourao
doaj   +1 more source

Preferred habitat and the term structure of interest rates in DSGE models

Journal of Applied Economics, 2019
The aim of the present study is to use an alternative approach to derive the term structure of interest rates in DSGE models, which is based on the theory of preferred habitat.
Celso J. Costa
doaj   +1 more source

Predictive performance of DSGE model for small open economy – the case study of Czech Republic

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2013
Multivariate time series forecasting is applied in a wide range of economic activities related to regional competitiveness and is the basis of almost all macroeconomic analysis.
Tomáš Jeřábek, Jakub Trojan, Radka Šperková   +2 more
doaj   +1 more source

Frequentist Evaluation of Small DSGE Models [PDF]

Journal of Business & Economic Statistics, 2015
This paper proposes a new evaluation approach for the class of small-scale ‘hybrid’ New Keynesian Dynamic Stochastic General Equilibrium (NK-DSGE) models typically used in monetary policy and business cycle analysis. The empirical assessment of the NK-DSGE model is based on a conditional sequence of likelihood-based tests conducted in a Vector ...
Gunnar Bårdsen, Luca Fanelli
openaire   +3 more sources

The Role of Labour Market Institutions in Shaping Euro Area Monetary Policy Transmission

Oxford Bulletin of Economics and Statistics, EarlyView.
ABSTRACT We examine how labour market institutions shape monetary policy transmission in euro area countries. A theoretical model suggests that higher union density flattens the Phillips curve, amplifying output responses while dampening the inflation effects of monetary shocks. This is empirically confirmed using an interacted panel VAR.
Maximilian Boeck, Christian Glocker
wiley   +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, Taeyoung Doh, Frank Schorfheide   +2 more
openaire   +3 more sources

Stochastic Simulation Model for Forecasting Index‐Linked Public Expenditure

Public Budgeting &Finance, EarlyView.
Abstract This paper introduces a system dynamics (SD) model for analyzing public sector cost growth, where costs are tied to indices. The SD model isolates the effects of automatic indexation, providing probabilistic projections of expenditure growth. It enables testing of alternative indexation strategies and cost‐reduction measures. Findings show how
Miia Rissanen, Jyrki Savolainen, Mikael Collan   +2 more
wiley   +1 more source

DSGE Models for Monetary Policy Analysis [PDF]

SSRN Electronic Journal, 2010
Monetary DSGE models are widely used because they fit the data well and can be used to address important monetary policy questions. We provide a selective review of these developments. Policy analysis with DSGE models requires using data to assign numerical values to model parameters.
Lawrence J. Christiano, Mathias Trabandt, Karl Walentin   +2 more
openaire   +2 more sources

News shocks, consumer confidence and business cycles

Economica, Volume 93, Issue 370, Page 648-676, April 2026.
Abstract We study the causal effects of consumer sentiment shocks on macroeconomic aggregates. By constructing a novel instrument based on major non‐economic news shocks in the USA over 1969–2022, and opinion polls around these events, we identify exogenous changes in consumer confidence.
Syed M. Hussain, Zara Liaqat
wiley   +1 more source

Global Identification of Linearized DSGE Models [PDF]

SSRN Electronic Journal, 2014
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Andrzej Kociecki, Marcin Kolasa
openaire   +4 more sources