Dam, Niels Arne; Linaa, Jesper Gregers - Economic Policy Research Unit (EPRU), Økonomisk Institut - 2005
stickiness is remarkably
high.
Keywords: Open economy, Peg, Business cycles, Bayesian estimation
JEL Classi�cations: E3, E4, F4 … equilibrium (dsge)
model for a small open economy and estimate it on Danish data using Bayesian estimation
techniques. Hence, our … pio-
neered the application of Bayesian estimation techniques to a dsge model. Thus, they estimated
a variant of the …