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The scientific foundation of dynamic stochastic general equilibrium (DSGE) models

Public Choice, 2010
DSGE-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 ...
P. Grauwe
semanticscholar   +2 more sources

“Write Your Model Almost as You Would on Paper and Dynare Will Take Care of the Rest!” A History of the Dynare Software

Œconomia, 2023
According to its creator Michel Juillard, Dynare is a “pre-processor and a collection of routines” aimed at solving and estimating non-linear rational expectation models.
Béatrice Cherrier, Aurélien Saïdi, Francesco Sergi   +2 more
doaj   +1 more source

MONETARY POLICY OPTIMIZATION BASED ON THE DSGE MODEL OF KAZAKHSTAN'S ECONOMY

Хабаршысы. Экономика сериясы, 2019
The model describes the economy in the short term (excluding investments), in the case of inflation targeting policy and represents a system of 15 linearized equations for key macroeconomic indicators of the main economy sectors: households ...
D.Shults, A.Kyssykov
doaj   +1 more source

IS INTERNATIONAL MONETARY POLICY COORDINATION FEASIBLE FOR THE ASEAN-5 + 3 COUNTRIES?

Buletin Ekonomi Moneter dan Perbankan, 2023
We examine the feasibility of international monetary policy coordination among the ASEAN-5 + 3 countries using the two-production-factor Dynamic Stochastic General Equilibrium (DGSE) models.
Eric Alexander Sugandi
doaj   +1 more source

To Freeze or Not to Freeze? Epidemic Prevention and Control in the DSGE Model Using an Agent-Based Epidemic Component

Entropy, 2020
The ongoing COVID-19 pandemic has raised numerous questions concerning the shape and range of state interventions the goals of which are to reduce the number of infections and deaths.
Jagoda Kaszowska-Mojsa, Przemysław Włodarczyk   +1 more
doaj   +1 more source

Evaluating the role of intellectual capital in the effect of the productivity impulse on macroeconomic components: the approach of the dynamic equilibrium financial model with an emphasis on recursive preferences [PDF]

جستارهای اقتصادی, 2021
In view of the limitations of recent modeling in Iran's economy, especially in financial economics, where behaviors contrary to economic theories had observed, the gap of participation of intellectual capital in economic models is significant, likewise ...
Fereshte Baghbanzade, Hashem Zare
doaj   +1 more source

Should the Dynamic Stochastic General Equilibrium (DSGE) Model be taught to Undergraduate Students of Economics?

Papeles, 2019
In this article we present the consequences of introducing the advanced teaching of the DSGE (Dynamic Stochastic General Equilibrium) models to undergraduate economics programs.
Álvaro Moreno Rivas
doaj   +1 more source

Problems in Developing a Comprehensive Toolkit for Macro-economic, Inter-regional, Inter-sectoral Analysis and Forecasting [PDF]

Экономика региона, 2020
The study reviews approaches to macro-economic and macro-territorial modelling presented in international and Russian economic publications. We focus on opportunities to improve forecasting the development of economic system in Russia ...
Valery A. Kryukov, Alexandr O. Baranov, Victor N. Pavlov, Victor I. Suslov, Nikita I. Suslov   +4 more
doaj   +1 more source

Money and Monetary Policy in Dynamic Stochastic General Equilibrium Models [PDF]

SSRN Electronic Journal, 2007
We compare two methods of motivating money in New Keynesian dynamic stochastic general equilibrium models—money‐in‐the‐utility function and the cash‐in‐advance (CIA) constraint—as well as two ways of modelling monetary policy: the interest rate feedback rule and money growth rules.
Bhattacharjee, Arnab, Thoenissen, Christoph   +1 more
openaire   +2 more sources

Assessment of the parameters of dynamic stochastic general equilibrium model of Kazakhstan economy using Bayesian estimation

Вестник Пермского университета: Серия Экономика, 2019
The transition of central banks to the inflation targeting policy has increased the importance to apply dynamic stochastic general equilibrium models (DSGE-models) for the assessment of social and economic effects of decisions, and to justify their ...
Dmitriy Nikolaevich Shults, Askar Baurzhanovich Kysykov   +1 more
doaj   +1 more source