A small-scale, but highly-stylized dynamic stochastic general equilibrium model is estimated by the maximum likelihood method using Chinese quarterly data. Model specifications and parameter equalities between various competing model variants are addressed by formal statistical hypothesis tests,...

The goal of this paper is to examine business cycle synchronization between the Czech economy and the euro area via a fully specified DSGE model. Using a two-country DSGE model I decompose the observed variables into the contributions of structural shocks and then compute conditional...