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An estimated dynamic stochastic general equilibrium model for Estonia [PDF]
, 2009 This paper presents an estimated open economy dynamic stochastic general equilibrium model for Estonia. The model is designed to highlight the main driving forces behind the Estonian business cycle and to understand how euro area economic shocks and its monetary policy affect the small open economy of Estonia. The model described in this paper is a two-
Paolo Gelain, Dmitry Kulikov
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The Scientific Foundation of Dynamic Stochastic General Equilibrium (DSGE) Models
Public Choice, 2010DSGE-models provide a coherent framework of analysis. This coherence is brought about by restricting acceptable behavior of agents to dynamic utility maximization and rational expectations. The problem of the DSGE-models (and more generally of macroeconomic models based on rational expectations) is that they assume extraordinary cognitive capabilities ...
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A stochastic estimated version of the Italian dynamic General Equilibrium Model
Economic Modelling, 2020Abstract This paper aims at identifying the main drivers of the Italian economic cycle. To this end, we estimate a small-open economy model based on a dual labor market, which captures the main features of the Italian economy. Our results indicate that labor market rigidities are important structural features of the Italian economy, but they provide ...
Nicola Acocella +7 more
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A Stochastic Dynamic General Equilibrium Model for Greece
1996In this paper we develop a stochastic dynamic general equilibrium model of the Greek economy, in the real business cycle modelling tradition. Household preferences depend on private and public consumption and leisure. Government finances its investment, consumption and transfer payments by means of a proportional income tax rate.
Kollintzas, Tryphon +1 more
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Estimation of dynamic stochastic general equilibrium models (in Russian) [PDF]
Quantile, 2014 This essay is a survey of the main econometric approaches to estimation of the dynamic stochastic general equilibrium (DSGE) models widely used by central banks and federal reserves. The paper discusses in detail the main econometric problems arising in inferences about the parameters of the log-linearized DSGE models.
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Smoothing the shocks of a dynamic stochastic general equilibrium model [PDF]
, 2005 In some ways, the recession of 2001 and the recovery that followed it were unique: During the recession, the contraction in measured output was driven almost entirely by a retrenchment in business capital spending while consumer spending and residential investment remained positive. And the recovery was marked by moderate, uneven gross domestic product
Andrew Bauer +2 more
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Macroprudential Regulation in Dynamic Stochastic General Equilibrium Models
2017This thesis studies the efficiency of macroprudential policies for financial and macroeconomic stabilization relying on a New Keynesian dynamic stochastic general equilibrium model with financial frictions. The focus is countercyclical regulation of loan-to-value ratios of mortgage borrowers and banks.
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Dynamic and Stochastic General Equilibrium (DSGE) Models: An Introduction [PDF]
, 2010 Dynamic and Stochastic General Equilibrium (DSGE) models have become a frequent choice of modeling methodology for complex dynamic and stochastic phenomena in different branches of economics. They are increasingly used by decision-makers to analyze various policy decisions or to generate rigorous forecasts.
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A Dynamic Stochastic General Equilibrium Model for India
2015Over the last decade, the Dynamic Stochastic General Equilibrium (DSGE) framework has become a workhorse for macroeconomic analysis in both academic and policy circles. Following this emerging trend, we aim to expand our research capacity in macroeconomics at NCAER by introducing a baseline DSGE model for the Indian economy.
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Dynamic Stochastic General Equilibrium Models (DSGE): An Introduction [PDF]
Ensayos Económicos, 2010 Dynamic and Stochastic General Equilibrium (DSGE) models have become a frequent choice of modeling methodology for complex dynamic and stochastic phenomena in different branches of economics. They are increasingly used by decision-makers to analyze various policy decisions or to generate rigorous forecasts.
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