This paper estimates and solves a multi-country version of the standard DSGE New Keynesian (NK) model. The country … restrictions implied by the NK theory. The multi-country DSGE NK model is then solved to provide estimates of identified supply … through error spillover effects. Bootstrapped error bands are also provided for the cross country responses of a shock to the …

equilibrium (DSGE) models. Given the structure of DSGE models it may be difficult to determine whether a parameter is identified … not suffer from this difficulty and are relatively easy to compute. The first applies to DSGE models where the parameters … estimators. These results are illustrated by means of simple DSGE models …

This study develops a stylised DSGE model, that departs in one aspect: it replaces the general equilibrium approach by …

surveys. To explain the joint evolution of realized variables and expectations, we adopt a DSGE-VAR approach, which allows us … to estimate all models in the continuum between the extremes of an unrestricted VAR, on one side, and a DSGE model in … which the cross-equation restrictions are dogmatically imposed, on the other side. Moreover, the DSGE-VAR approach allows us …

paper I present two paradigms that attempt to explain these booms and busts. One is the DSGE-paradigm in which agents have …

a medium-scale new-Keynesian DSGE model with a minimum-distance approach. The DSGE model is shown to be able to …, we identify a steeper new-Keynesian Phillips curve as the key factor behind the DSGE model's ability to replicate the … milder macroeconomic responses to a monetary policy shock estimated with our VAR in presence of high uncertainty. A version …

This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate …

-type staggered price setting approach, which means that the adjustment of the aggregate loan rate to a monetary policy shock is …