Search Results - subject:"dynamic stochastic general equilibrium models"

Monetary policy in an uncertain world: probability models and the design of robust monetary rules

Levine, Paul - In: Indian Growth and Development Review 5 (2012) 1, pp. 70-88

Purpose – The purpose of this paper is to describe the transformation of macro‐modelling from reduced form behavioural equations estimated separately, through to contemporary microfounded dynamic stochastic general equilibrium (DSGE) models estimated by systems methods. It is argued that...

Persistent link: https://www.econbiz.de/10014758958

On the Validity of the Theoretical Bases of Inflation Targeting and New Keynesian General Equilibrium Models

J. PLUSHCHEVSKAYA. - In: VOPROSY ECONOMIKI 5 (2012)

contemporary mainstream economics, inflation targeting and New Keynesian dynamic stochastic general equilibrium models … general equilibrium models. The reason for doubts lies mainly in the lack of confidence in the new neoclassical synthesis … the indisputability of advantages of inflation targeting and its theoretical basis: the New Keynesian dynamic stochastic …

Persistent link: https://www.econbiz.de/10010860831

A method for solving general equilibrium models with incomplete markets and many financial assets

Evans, Martin D.D.; Hnatkovska, Viktoria - In: Journal of Economic Dynamics and Control 36 (2012) 12, pp. 1909-1930

This paper presents a numerical method for solving stochastic general equilibrium models with dynamic portfolio choice. The method can be applied to models with heterogeneous agents, time-varying investment opportunity sets, and incomplete asset markets. We illustrate the method using a...

Persistent link: https://www.econbiz.de/10010580803

Policy focus: Monetary policy in an uncertain world: probability models and the design of robust monetary rules

Levine, Paul - In: Indian Growth and Development Review 5 (2012) 1, pp. 70-88

Purpose – The purpose of this paper is to describe the transformation of macro-modelling from reduced form behavioural equations estimated separately, through to contemporary microfounded dynamic stochastic general equilibrium (DSGE) models estimated by systems methods. It is argued that...

Persistent link: https://www.econbiz.de/10010551606

A method for solving general equilibrium models with incomplete markets and many financial assets

Evans, Martin D. D.; Hnatkovska, Viktoria - In: Journal of economic dynamics & control 36 (2012) 12, pp. 1909-1930

Persistent link: https://www.econbiz.de/10009701907

Monetary policy in an uncertain world : probability models and the design of robust monetary rules

Levine, Paul - In: Indian growth and development review 5 (2012) 1, pp. 70-88

Persistent link: https://www.econbiz.de/10009551646

Frequency Domain Analysis of Medium Scale DSGE Models with Application to Smets and Wouters (2007)

Qu, Zhongjun; Tkachenko, Denis - Department of Economics, Boston University - 2011

The paper considers parameter identification, estimation and inference in medium scale DSGE models from a frequency domain perspective using the framework developed in Qu and Tkachenko (2010). The analysis uses Smets and Wouters (2007) as an illustrative example, motivated by the fact that it...

Persistent link: https://www.econbiz.de/10010779487

Bayesian Estimation of DSGE models: Is the Workhorse Model Identified?

Caglar, Evren; Chadha, Jagjit S.; Shibayama, Katsuyuki - School of Economics, University of Kent - 2011

Koop, Pesaran and Smith (2011) suggest a simple diagnostic indicator for the Bayesian estimation of the parameters of a DSGE model. They show that, if a parameter is well identified, the precision of the posterior should improve as the (artificial) data size T increases, and the indicator checks...

Persistent link: https://www.econbiz.de/10009399650

Macroeconomic Implications of the Underground Sector: Challenging the Double Business Cycle Approach

Granda Carvajal, Catalina - Department of Economics, University of Connecticut - 2011

Within the literature on business cycles featuring shadow economic activities, there is an approach based on the arguable premise that fluctuations in the official and unofficial sectors are negatively correlated. The present paper develops a real business cycle model that does not impose such...

Persistent link: https://www.econbiz.de/10009151644

Expectativas, relaciones intersectoriales y ciclo económico

Sáez, Francisco; Alvarez, Fernando; Morales, Jesús; … - In: Ensayos económicos 63 (2011), pp. 97-147

Persistent link: https://www.econbiz.de/10011508661