In this paper, we extend Surico's (2007a) model to an open economy and test if the Brazilian Central Bank's loss function is asymmetric with regard to positive and negative deviations of the output gap and of the inflation rate from its target. Furthermore, we use tests for structural breaks to...

This study describes a compact dynamic stochastic general equilibrium (DSGE) model fitted for the Swiss economy with Bayesian techniques. The model features two economies (small home economy, large foreign economy), five types of agents (households, producers of tradables, producers of...