Similar Search Results

The effects of fiscal policy in an estimated DSGE model : the case of the German stimulus packages during the great recession

Drygalla, Andrej; Holtemöller, Oliver; Kiesel, Konstantin - 2018

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...

Persistent link: https://www.econbiz.de/10011804350

Untangling crises : GFC and COVID-19 through the lens of a DSGE model

Peña, Rogelio De la; García, Ignacio - In: Latin American journal of central banking : LAJCB 4 (2023) 2, pp. 1-29

had been severely affected by the demand shock (around 45.1%), the financial shocks (32.2%), and the productivity shock …

Persistent link: https://www.econbiz.de/10014382934

On the Sources of Business Cycles : Implications for DSGE Models

Andrle, Michal - 2017

What are the drivers of business cycle fluctuations? And how many are there? By documenting strong and predictable co-movement of real variables during the business cycle in a sample of advanced economies, we argue that most business cycle fluctuations are driven by one major factor. The...

Persistent link: https://www.econbiz.de/10012956242

On the sources of business cycles : implications for DSGE models

Andrle, Michal; Brůha, Jan; Solmaz, Serhat - 2017

Persistent link: https://www.econbiz.de/10011647948

The Role of Financial Frictions During the Crisis : An Estimated DSGE Model

Merola, Rossana - 2013

After the recent banking crisis in 2008, financial market conditions have turned out to be a relevant factor for economic fluctuations. This paper provides a quantitative assessment of the impact of financial frictions on the U.S. business cycle. The analysis compares the original Smets and...

Persistent link: https://www.econbiz.de/10013071832

Unusual shocks in our usual models

Ferroni, Filippo; Fisher, Jonas D. M.; Melosi, Leonardo - 2022

and apply it to study the macroeconomic effects of the Covid shock. The initial outbreak is represented as the onset of a … new shock process where the shock loads on wedges associated with the model's usual shocks. Realizations of the Covid … shock come with news about its propagation, allowing us to disentangle the role of beliefs about the future of the pandemic …

Persistent link: https://www.econbiz.de/10013375147

Modeling business cycle with financial shocks basing on Kaldor-Kalecki model

Li, Zhenghui; Wang, Zhenzhen; Huang, Zhehao - In: Quantitative finance and economics 1 (2017) 1, pp. 44-66

Persistent link: https://www.econbiz.de/10012137732

Sticky Wages in a Stochastic Dge Model of the Business Cycle

Gail, Michael - 2004

staggering has a higher potential to generate persistent output responses to a money growth shock. Interestingly, adjustment …

Persistent link: https://www.econbiz.de/10014072288

Rational inattention and the business cycle effects of productivity and news shocks

Maćkowiak, Bartosz; Wiederholt, Mirko - 2023

We solve a real business cycle model with rational inattention (an RI-RBC model). In the RI-RBC model, the growth rates of employment, investment, and output are about as persistent as in the data, with an amount of inattention consistent with survey data on expectations. Moreover, consumption,...

Persistent link: https://www.econbiz.de/10014343098

A Bayesian dynamic stochastic general equilibrium model of stock market bubbles and business cycles

Miao, Jianjun; Wang, Pengfei; Xu, Zhiwei - In: Quantitative economics : QE ; journal of the … 6 (2015) 3, pp. 599-635

sentiment shock that drives the movements of bubbles and is transmitted to the real economy through endogenous credit … constraints. This shock explains most of the stock market fluctuations and sizable fractions of the variations in real quantities …

Persistent link: https://www.econbiz.de/10011757753