This paper illustrates the usefulness of sequential Monte Carlo (SMC) methods in approximating DSGE model posterior … examples of multimodal posteriors that are well captured by SMC methods. We then use the online estimation of the DSGE model to …

Stochastic General Equilibrium (DSGE) models are the leading framework that macroeconomists have for dealing with this challenge … in an open and transparent manner. This paper reviews the state of DSGE models before the financial crisis and how DSGE … modelers responded to the crisis and its aftermath. In addition, we discuss the role of DSGE models in the policy process …

Dynamic Stochastic General Equilibrium (DSGE) models are often solved and estimated under specific assumptions as to …

This paper develops and illustrates a simple method to generate a DSGE model-based forecast for variables that do not … dynamic factor model to link the non-core variables to the state variables of the DSGE model. Predictions for the non …-core variables are obtained by applying their measurement equations to DSGE model-generated forecasts of the state variables. Using a …

This paper provides an overview of solution and estimation techniques for dynamic stochastic general equilibrium (DSGE …

(DSGE) models, wherein a particle approximation to the posterior is built iteratively through tempering the likelihood …

We estimate a workhorse DSGE model with an occasionally binding borrowing constraint. First, we propose a new …