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Barro, Robert J.; Fernández-Villaverde, Jesús; … - In: The economic journal : the journal of the Royal … 132 (2022) 646, pp. 2075-2100

Persistent link: https://www.econbiz.de/10013349665

MEDEA: a DSGE model for the Spanish economy

Burriel, Pablo; Fernández-Villaverde, Jesús; … - In: SERIEs - Journal of the Spanish Economic Association 1 (2010) 1/2, pp. 175-243

In this paper, we provide a brief introduction to a new macroeconometric model of the Spanish economy named MEDEA (Modelo de EquilibrioDinámico de la Economía EspañolA). MEDEA is a dynamic stochastic general equilibrium (DSGE) model that aims to describe the main features of the Spanish...

Persistent link: https://www.econbiz.de/10010317074

The econometrics of DSGE models

Fernández-Villaverde, Jesús - In: SERIEs - Journal of the Spanish Economic Association 1 (2010) 1/2, pp. 3-49

In this paper, I review the literature on the formulation and estimation of dynamic stochastic general equilibrium (DSGE) models with a special emphasis on Bayesian methods. First, I discuss the evolution of DSGE models over the last couple of decades. Second, I explain why the profession has...

Persistent link: https://www.econbiz.de/10010317088

Evaluating Labor Market Reforms: A General Equilibrium Approach

Alonso-Borrego, César; Fernández-Villaverde, Jesús; … - Institute for the Study of Labor (IZA) - 2004

Job security provisions are commonly invoked to explain the high and persistent European unemployment rates. This … both its unemployment and its share of fixed-term employment are the highest. We find that fixedterm contracts increase … unemployment, reduce output, and raise productivity. The welfare effects are ambiguous. …

Persistent link: https://www.econbiz.de/10005762388

Evaluating Labor Market Reforms: A General Equilibrium Approach

Alonso-Borrego, César; Fernández-Villaverde, Jesús; … - Department of Economics, University of Pennsylvania - 2004

Job security provisions are commonly invoked to explain the high and persistent European unemployment rates. This … both its unemployment and its share of fixed-term employment are the highest. We find that fixed term contracts increase … unemployment, reduce output, and raise productivity. The welfare effects are ambiguous. …

Persistent link: https://www.econbiz.de/10005061907

Estimating Macroeconomic Models: A Likelihood Approach

Fernández-Villaverde, Jesús; Rubio-Ramírez, Juan … - C.E.P.R. Discussion Papers - 2006

This paper shows how particle filtering allows us to undertake likelihood-based inference in dynamic macroeconomic models. The models can be nonlinear and/or non-normal. We describe how to use the output from the particle filter to estimate the structural parameters of the model, those...

Persistent link: https://www.econbiz.de/10005504323