This paper estimates the effects of technology shocks in VAR models of the U.S., identified by imposing restrictions on … the sign of impulse responses. These restrictions are consistent with the implications of a popular class of DSGE models …. Contrary to most of the related VAR evidence, results are not sensitive to a number of specification assumptions, including …

information is then exploited to restrict the oil price response in a VAR. Impulse responses suggest that such shocks reduce …

This paper analyzes the macroeconomic effects on the U.S. economy of news about oil supply by estimating a VAR … following a shock. Hence, differently from the VAR literature on oil shocks we do not need to rely on recursive identification …

The paper assesses the performance of medium-term forecasts of euro-area GDP and inflation obtained with a DSGE model … and with the Eurosystem projections; the same real time assumptions underlying the latter are used to condition the DSGE … overall more accurate than that of simple autoregressive models. The DSGE model shows a relatively better performance in …

improve upon a standard rule in terms of macroeconomic stabilization in a DSGE with both a firms' balance-sheet channel and a …