Real Business Cycle (RBC) and Dynamic Stochastic General Equilibrium (DSGE) methods have become essential components of …

El trabajo utiliza un modelo DSGE de ciclos reales con dos sectores productivos, uno transabley uno no transable, para …

Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It … declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that … money has nothing to do with traded output, but everything to do with storing value. But now a new trade theory takes over …

In this paper we develop a dynamic stochastic general equilibrium (DSGE) model for an open economy, and estimate it on … paper offers: i) a theoretical development of the standard DSGE model into an open economy setting, ii) Bayesian estimation …

policy. This paper is a tribute to the philosopher Mises, who focused on human acting and who enriched the monetary theory … with an analytical perspective and deductive models, creating the so called Misesian theory. What is Mises contribution to … rule? And most important how does the business cycle theory influence money? …

We address the problem of parameter estimation for diffusion driven stochastic volatility models through Markov chain … change transformations is also presented. The algorithm is fast to implement and applies to models with stochastic volatility …

In this paper, we show how to estimate the parameters of stochastic volatility models using Bayesian estimation and … the Stochastic Volatility (SV) model, basic and with leverage. …

structural vector autoregression (TVP-VAR) with stochastic volatility, in both methodology and empirical applications. The TVP …-VAR model, combined with stochastic volatility, enables us to capture possible changes in underlying structure of the economy in … stochastic volatility into the TVP estimation significantly improves estimation performance. The Markov chain Monte Carlo method …