inference method to map from this TV VAR to time variation in implied Dynamic Stochastic General Equilibrium (DSGE) parameters …

and larger in magnitude. We use an estimated DSGE model to show that this change is consistent with a switch from an …

equilibrium model (DSGE). First, it estimates a panel vector autoregresive (VAR) model for output, investment, trade balance …

methodology of constructing Dynamic Stochastic General Equilibrium (DSGE) consistent prior distributions for Bayesian Vector … Ravenna (2007) regarding structural VAR (SVAR) models and the normal prior density of the DSGE parameter vector. In line with … used to rank competing DSGE theories that aim to explain the same observed data (Geweke, 2005). Finally, motivated by the …