Confrontando un modelo DSGE con los datos
, 2020 In this document we try to answer a key question in macroeconomic modeling. How much does a stochastic model of general equilibrium reproduce the data? To answer this question we use three metrics. First, we compare the statistical moments of the model with the data. Second, we perform a simulation of the cycles.
openaire +1 more source
Optimal Monetary Policy Under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach [PDF]
We study the design of optimal monetary policy under uncertainty in a dynamic stochastic general equilibrium model. We use a Markov jump-linear-quadratic (MJLQ) approach to study policy design, proxying the uncertainty by different discrete modes in a ...
Lars E.O. Svensson, Noah Williams
core
Macroeconomic and Welfare Effects of Public Infrastructure Investment in Five Latin American Countries [PDF]
It has been widely documented that investment in infrastructure is important for economic growth, but little work has been done in relation to the impact of infrastructure investment on other macroeconomic variables.
Carlos Gustavo Machicado
core
Monetary policy in Brazil : evidence from new measures of monetary shocks [PDF]
, 2017 Este artigo deriva novas medidas de choques de política monetária para o Brasil. Em primeiro lugar, um conjunto de choques é construído inspirado na metodologia de Romer e Romer (2004), utilizando tanto previsões públicas quanto privadas. As previsões do
Costa Filho, Adonias Evaristo da
core +2 more sources
Política Monetária e Preço dos Imóveis no Brasil: Uma Análise a partir de um Modelo DSGE
Revista Brasileira de Economia, 2018 Este artigo avalia se o comportamento recente do Banco Central do Brasil sugere que a politica monetaria tem reagido a mudancas nos precos das habitacoes. Para responder a esta questao, utilizam-se duas estrategias. Num primeiro momento, sao estimadas funcoes de reacao utilizando metodos de equacoes simples por meio de Minimos Quadrados Ordinarios e ...
Silva, Marcelo Eduardo Alves da +1 more
openaire +3 more sources
ESTIMATION OF A TIME VARYING NATURAL INTEREST RATE FOR PERU [PDF]
Following the approach of MÈsonnier and Renne (2007), we estimate a Natural Rate of Interest (NRI) using quarterly Peruvian data for the period 1996:3-2008:3.
Alberto Humala, Gabriel Rodríguez
core
The Consumption-Real Exchange Rate Anomaly: Non-Traded Goods, Incomplete Markets and Distribution Services [PDF]
The real exchange rate is volatile and tends to move in opposite direction with respect to relative consumption across countries. Chari, Kehoe and McGrattan (CKM, 2002) refer to the inability of models to replicate the last stylized fact as the ...
Jorge Selaive, Vicente Tuesta
core
NEW KEYNESIAN MODELS FOR CHILE DURING THE INFLATION TARGETING REGIME: A STRUCTURAL APPROACH [PDF]
Knowing the frictions that are present in the economy is a key step towards the efficient design of policy actions. In particular, price and wage rigidities determine the degree of tradeoff between output and inflation stabilization that central banks ...
Felipe Liendo +2 more
core
Um modelo DSGE para análise de desigualdade de renda
Tese (doutorado)—Universidade de Brasília, Departamento de Economia, Brasília, 2017. ; Esta tese de doutorado apresentada à Universidade de Brasília consiste na construção de um modelo Dinâmico de Equilíbrio Geral e Estocástico (DSGE) para analisar os efeitos da desigualdade de renda na economia brasileira.
openaire +1 more source
Non-Ricardian Aspects of Fiscal Policy in Chile [PDF]
This paper examines non-Ricardian effects of government spending shocks in the Chilean economy. We first provide evidence on those effects based on vector autoregressions. We then show that such evidence can be accounted for by a model that features: (i)
Jordi Galí +2 more
core +3 more sources