The Paper provides new tools for the evaluation of DSGE models, and applies it to a large-scale New Keynesian dynamic stochastic general equilibrium (DSGE) model with price and wage stickiness and capital accumulation. Specifically, we approximate the DSGE model by a vector autoregression (VAR),...

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,...

We propose a new approach to imposing economic constraints on time-series forecasts of the equity premium. Economic constraints are used to modify the posterior distribution of the parameters of the predictive return regression in a way that better allows the model to learn from the data. We...

Dynamic Stochastic General Equilibrium (DSGE) models are now considered attractive by the profession not only from the theoretical perspective but also from an empirical standpoint. As a consequence of this development, methods for diagnosing the fit of these models are being proposed and...

In Bayesian analysis of dynamic stochastic general equilibrium (DSGE) prior distributions for some of the taste-and-technology parameters can be obtained from microeconometric or pre-sample evidence, but it is difficult to elicit priors for the parameters that govern the law of motion of...

The paper uses a new database on Anti-Dumping measures worldwide to assess whether the 1995 Uruguay Round Agreement on AD sunset reviews had any effect. Estimates from a count of revocations for a panel of AD-using countries over 1979-2005 show that a five-year cycle is more apparent after the...

This paper focuses on developing countries that export for the first time to the OECD and obtains several important results on export dynamic, linking exports experience and exports survival. Using product level data at the SITC 5 digit level for 114 developing countries on the 1962-2009 period,...

We analyze the duration of patent examination at the European Patent Office (EPO). Our data contain variables that are correlates of the applicants’ and examiners’ assessments of a patent’s economic and technical relevance as well as ex post-application citation measures which indicate the...