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This paper estimates a medium-scale open economy DSGE model for Germany and the rest of the Euro Area (REA). The … REA. A comparison based on marginal likelihoods shows that the DSGE model fits the observable macroeconomic time series …
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and hence changes in competitiveness within the three regions. Our results are obtained from an estimated DSGE model which …
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Recession. We employ a standard mediumscale dynamic stochastic general equilibrium (DSGE) model extended by nonoptimising …
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We simulate the fiscal stimulus packages set up by the German government to allevi-ate the costs of the COVID-19 pandemic in a dynamic New Keynesian multi-sectorgeneral equilibrium model. We find that, cumulated over 2020-2022, output lossesrelative to steady state can be reduced by more than 4...
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DSGE-Modelle; Geldpolitik; Fiskalpolitik; Markov-Regimewechsel; Inflationssteuerung; Wechselkurspolitik; Ölpreisschock …DSGE models; monetary policy; fiscal policy; Markov switching; inflation targeting; exchange rate policy; oil price … dynamischen stochastischen allgemeinen Gleichgewichtsmodellen (DSGE-Modellen). Zum einen wird mittels eines Markov …
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