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This study describes a compact dynamic stochastic general equilibrium (DSGE) model fitted for the Swiss economy with Bayesian techniques. The model features two economies (small home economy, large foreign economy), five types of agents (households, producers of tradables, producers of...
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industrialized and developing economies after the 2008 recession. However, the direction of shock spillovers during recessions and …
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In this paper a new method of constructing the leading economic index is presented. Its main advantage is the ability to distinguish domestic and foreign factors influencing the growth of economy and it is performed via dynamic hierarchical factor modelling. An application is carried out with...
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historical shock and forecast-error-variance decompositions, and assessing its forecasting performance against a suite of …
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