Bayesian approaches to the estimation of DSGE models are becoming increasingly popular. Prior knowledge is normally …

-founded macroeconometric frame-work. First, using Bayesian techniques, we estimate a two-country dynamic stochastic general equilibrium (DSGE …

(CCyB) rules in small open economy estimated medium scale DSGE. We find that rules based on the credit gap create a trade …

In this paper we review the methodology of forecasting with log-linearised DSGE models using Bayesian methods. We focus … nonstructural benchmarks, such as Bayesian vector autoregressions (BVARs). Overall, the empirical evidence indicates that the NAWM …

aggregate. The impulse responses show that a positive shock to foreign liquidity leads for the euro area to a permanent increase …

In view of the increasing use of Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic projections … within DSGE models. Furthermore, it provides historical estimates of potential output/output gaps on the basis of selected … DSGE models developed by the European System of Central Banks' staff. These estimates are compared to the corresponding …

depends on the shock considered). Nevertheless, although in addition the model with financial frictions better describes Euro …