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On identification of Bayesian DSGE models

Koop, Gary; Pesaran, Mohammad Hashem; Smith, Ron P. - 2011

In recent years there has been increasing concern about the identification of parameters in dynamic stochastic general equilibrium (DSGE) models. Given the structure of DSGE models it may be difficult to determine whether a parameter is identified. For the researcher using Bayesian methods, a...

Persistent link: https://www.econbiz.de/10010276281

Price and death

Itaya, Jun-ichi; Ursprung, Heinrich W. - 2008

How does an artist's death impact on the price of his or her works of art? We investigate this question in an infinite-horizon dynamic general equilibrium setting. Employing the open-loop Stackelberg equilibrium concept to describe the interactive behaviour of collectors and artists, we find...

Persistent link: https://www.econbiz.de/10010276895

Production technologies in stochastic continuous time models

Wälde, Klaus - 2009

Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed-form solutions. Closed-form solutions are known for a...

Persistent link: https://www.econbiz.de/10010277094

Envy, guilt, and the Phillips curve

Ahrens, Steffen; Snower, Dennis J. - 2012

We incorporate inequity aversion into an otherwise standard New Keynesian dynamic equilibrium model with Calvo wage contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with relatively high incomes experience guilt. The former seek to raise their...

Persistent link: https://www.econbiz.de/10010286313

The Effects of Monetary Policy Surprises and Fiscal Sustainability Regimes in the Euro Area

Afonso, António; Alves, José; Ionta, Serena - 2023

projection model for the Euro Area (aggregate data), Germany, Italy, and Portugal, we analyze the interaction between both …

Persistent link: https://www.econbiz.de/10014377532

Drivers of Fiscal Sustainability: A Time-Varying Analysis for Portugal

Afonso, António; Coelho, José Carlos - 2023

We assess the drivers of fiscal sustainability in Portugal during the period 1999Q4-2021Q4. We resort to expanding … the debt-to-GDP ratio. Our results show the prevalence of a Ricardian fiscal regime in Portugal. If the (i-g) differential … financial assistance program to Portugal, between 2011Q2 and 2014Q2. …

Persistent link: https://www.econbiz.de/10014469476

Demand for higher education programs: the impact of the Bologna process

Cardoso, Ana Rute; Portela, Miguel; Sá, Carla; … - 2007

restructuring of higher education currently underway, by looking at its implications on the demand for academic programs in Portugal …

Persistent link: https://www.econbiz.de/10010264195

Reduction of employment protection in Europe : a comparative fuzzy-set analysis

Ochel, Wolfgang; Rohwer, Anja - 2009

, Portugal, Spain and Sweden. The article explores the conditions of the reduction of employment protection and takes a closer …

Persistent link: https://www.econbiz.de/10010266025

Sustainability of Portuguese fiscal policy in historical perspective

Marinheiro, Carlos Jose Fonseca - 2005

results suggest that fiscal consolidation efforts must, in fact, be continued in Portugal. …

Persistent link: https://www.econbiz.de/10010275771

Rhineland exit?

Bovenberg, Lans; Teulings, Coen N. - 2008

their outside option. Empirical results for Denmark, Portugal and the United States show that Denmark is closest to the … first-best outcome, while Portugal and the United States deviate in different ways. Coordination in wage bargaining and …

Persistent link: https://www.econbiz.de/10010276828