An estimated new keynesian dynamic stochastic general equilibrium model of the Euro area /
In recent years a new consensus has emerged in macroeconomics in general and in model building in particular, the so called New Keynesian Paradigm (NKM). This paper applies Bayesian estimation techniques to a time series data set of the euro area and presents estimates of a DSGE model. The purpose o...
| Corporate συγγραφέας: | European Commission : Directorate-General for Economic and Financial Affairs. |
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| Άλλοι συγγραφείς: | Ratto, Marco., Roger, Werner., Veld, Jan in't 1962-, Girardi, Riccardo. |
| Μορφή: | Βιβλίο |
| Γλώσσα: | Greek English |
| Στοιχεία έκδοσης: |
Brussels ; Belgium :
European Commission: Directorate-General for Economic and Financial Affairs,
2005.
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| Σειρά: |
European Economy. Economic papers ;
220. |
| Διαθέσιμο Online: |
http://ec.europa.eu/economy_finance/publications/publication_summary11044_en.htm |
| Ετικέτες: |
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| Περίληψη: |
In recent years a new consensus has emerged in macroeconomics in general and in model building in particular, the so called New Keynesian Paradigm (NKM). This paper applies Bayesian estimation techniques to a time series data set of the euro area and presents estimates of a DSGE model. The purpose of this paper is not to estimate the current version of the QUEST model directly with these methods but rather to estimate a prototype new generation New-Keynesian DSGE model. This model can then serve as a benchmark for an estimation of a QUEST specification. In fact in some dimensions the QUEST model may need to be adjusted to come closer to a DSGE model. |
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| Φυσική περιγραφή: |
45 σ. ; 30 εκ. |
| ISBN: |
92-894-8119-6 |
| ISSN: |
1016-8060 (print) 1725-3187 (online) |
| Σχετικά τεκμήρια: |
Economic Papers |