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", as proxied by productivity growth shocks - in line with the Real Business Cycle framework -, and we provide empirical …
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develop an extended Factor Augmented VAR model that simultaneously allows the estimation of a measure of uncertainty and its … shock has remained fairly stable. Simulations from a non-linear DSGE model suggest that these empirical results are …
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In this paper, we analyse the effects of the stimulus packages adopted by the German government during the Great Recession. We employ a standard mediumscale dynamic stochastic general equilibrium (DSGE) model extended by nonoptimising households and a detailed fiscal sector. In particular, the...
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channel of wage shock to consumer price passing through bank credit. …
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inference that feature varying level of trade-off between estimation precision and computational speed. Using monthly data for …
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