In recent years local projections have become a more and more popular methodology for the estimation of impulse …

.S. output shock as it does to a corresponding euro area shock. The pivotal role of the U.S.A. in shaping the global business …

scale of a DSGE model and that of the time series data used for its estimation generally creates identfication problems …, introduces estimation bias and distorts the results of policy analysis. On the constructive side, we prove that the use of mixed … frequency data, combined with a proper estimation approach, can alleviate the temporal aggregation bias, mitigate the …

estimation can have serious consequences for identification, estimation and interpretation of the impulse response functions …. However, the use of mixed frequency data, combined with a proper estimation approach, can alleviate the temporal aggregation …

shocks driving macroeconomic uncertainty. Forcing these non-existing shocks in estimation produces a downward bias in the …

vastly different results. In this paper, we overcome this by estimating a DSGE model using a structural Bayesian estimation …