This paper reviews Bayesian methods that have been developed in recent years to estimate and evaluate dynamic stochastic general equilibrium (DSGE) models. We consider the estimation of linearized DSGE models, the evaluation of models based on Bayesian model checking, posterior odds comparisons,...

This paper reviews Bayesian methods that have been developed in recent years to estimate and evaluate dynamic stochastic general equilibrium (DSGE) models. We consider the estimation of linearized DSGE models, the evaluation of models based on Bayesian model checking, posterior odds comparisons,...

This dissertation investigates questions that arise when we estimate the dynamic stochastic general equilibrium (DSGE) models. Chapter 1 proposes a model-based approach of estimating the capital stock. We specify a dynamic stochastic general equilibrium (DSGE) model with capital utilization to...

Accounting for observed fluctuations in aggregate employment, consumption, and real wage using the optimality conditions of a representative household often requires preferences that are incompatible with economic priors (e.g., Mankiw, Rotemberg, and Summers 1985). This discrepancy between the...

Accounting for observed uctuations in aggregate employment, consumption, and real wage using optimality conditions of a representative household often requires preferences that are incompatible with economic priors (e.g., Mankiw, Rotemberg, and Summers, 1985). This discrepancy between the...

Accounting for observed fluctuations in aggregate employment, consumption, and real wage using the optimality conditions of a representative household requires preferences that are incompatible with economic priors. In order to reconcile theory with data, we construct a model with heterogeneous...

Korean Abstract: 본 연구에서는 석유시장과 신재생에너지 시장의 동향을 파악하고 주요국의 에너지정책 변화에 대하여 살펴봄으로써, 국제 에너지시장의 변화 양상이 우리 경제의 에너지 수급에 영향을 미칠 수 있는 경로에...

In advanced economies FinTech firms are focused on enhancing the efficiency and profitability of financial institutions. Financial inclusion, however, is an important dimension relevant to emerging economies. FinTech can alleviate these difficulties posed by limited access to financial...