. For the researcher using Bayesian methods, a lack of identification may not be evident since the posterior of a parameter … the priors assumed on the structural parameters are independent. We suggest two Bayesian identification indicators that do … consistent estimators. These results are illustrated by means of simple DSGE models. -- Bayesian identification ; DSGE models …

in an otherwise standard New-Keynesian closed economy DSGE model. We estimate the model using Bayesian techniques for … the conduct of stabilization policy. -- labor market ; wage rigidity ; bargaining ; Bayesian estimation …

trade result in an asymmetric reaction to an otherwise symmetric shock. In this context, we show that oil price shocks can …

cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

that the employment rate is slow to converge to its steady state value after a monetary shock. The after-effects of a shock … continue to exert an effect on the labor market even long after the shock is over. The sluggishness of the labor market … translates to the product market and thus the output effects of the monetary shock become more persistent. Under reasonable …

financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …