general equilibrium (DSGE) model in its usual form with full-information rational expectations and compare it with versions …

We test the standard New Keynesian (NK) Dynamic Stochastic General Equilibrium (DSGE) model under the condition with … information data revision. All models are tested with the Indirect Inference method, and our test result based on real-time data …. Overall, our findings provide important implications on the modelling of expectation formation in the DSGE framework. …

into an open economy DSGE model to investigate the evidence of state-dependence in the UK economy's postwar behaviour. The … model is estimated and tested using the Indirect Inference method and is found to fit the dynamic behaviour of key variables …

Out-of-sample forecasting tests of DSGE models against time-series benchmarks such as an unrestricted VAR are … on a widely-used DSGE model to investigate the power of these tests. We find that in specification testing they have weak … power relative to an in-sample indirect inference test; this implies that a DSGE model may be badly mis-specified and still …

Using Monte Carlo experiments, we examine the performance of indirect inference tests of DSGE models in small samples …

We review the methods used in many papers to evaluate DSGE models by comparing their simulated moments and other …