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konventionelle Sichtweisen über die Inflation zu modellieren. Ich verwende ein DSGE Modell mit klebriger Information und vergleiche … beide Modelle in meinem DSGE Rahmen gleich gut geeignet sind, die konventionellen Sichtweisen zu erklären. Der zweite … to model three conventional views about inflation. We use a fully-fledged DSGE model with sticky information and compare …
Persistent link: https://www.econbiz.de/10009466995
Persistent link: https://www.econbiz.de/10011300239
within a DSGE model featuring price rigidities and limited asset market participation. Specifically, we estimate the …
Persistent link: https://www.econbiz.de/10011604628
We use a version of the New Area-Wide Model (NAWM) developed at the ECB in order to quantify the gains from monetary policy cooperation. The model is calibrated in order to match a set of empirical moments. We then derive the cooperative and (open-loop) Nash monetary policies, assuming that the...
Persistent link: https://www.econbiz.de/10011604904
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers’ bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...
Persistent link: https://www.econbiz.de/10011605053
-time forecasts from a richly-specified DSGE model to those from the Survey of Professional Forecasters, Bayesian VARs and VARs using … priors from a DSGE model. We show that the analyzed DSGE model is relatively successful in forecasting the US economy in the … BVARs and DSGE-VARs. Compared to the SPF, the DSGE model generates better output forecasts at longer horizons, but less …
Persistent link: https://www.econbiz.de/10011605156
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...
Persistent link: https://www.econbiz.de/10010277123
for longer lasting current account deficits since for these shocks, standard open economy DSGE models can only generate … temporary external deficits. We show that our enhanced DSGE-model - covering both trade and FDI - not only matches well the …
Persistent link: https://www.econbiz.de/10014530296
econometric method that uses conjugate conditionals to allow for feasible and quick estimation of DSGE models with correlated …The dynamic stochastic general equilibrium (DSGE) models used to study business cycles typically assume that exogenous … resolves some conflicts between estimates from DSGE models and those from vector autoregressions and that a key missing …
Persistent link: https://www.econbiz.de/10010287037
We review the methods used in many papers to evaluate DSGE models by comparing their simulated moments and other …
Persistent link: https://www.econbiz.de/10010288773