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Financial drivers of the euro area business cycle: A DSGE-based approach

Hirschbühl, Dominik; Krustev, Georgi; Stoevsky, Grigor - 2020

We estimate a modified version of the "Financial Business Cycles" model originally developed by Iacoviello (2015) in order to investigate the role played by financial factors in driving the business cycle in the euro area. In the model, financial shocks such as borrower defaults, collateral...

Persistent link: https://www.econbiz.de/10012422137

News Shocks under Financial Frictions

Görtz, Christoph; Tsoukalas, John D.; Zanetti, Francesco - 2020

for the propagation of news shocks. A DSGE model enriched with a financial sector generates very similar quantitative …

Persistent link: https://www.econbiz.de/10012425634

Macroeconomic management on becoming an African oil exporter

Morrissey, Oliver; Spreng, Lars - 2020

Dynamic Stochastic General Equilibrium (DSGE) model of a primary commodity exporting developing country calibrated to Ghana … the DSGE model to obtain priors for parameter values, we use a Structural Vector Autoregressive (SVAR) with monthly data … after 2010. The DSGE results suggest that although an oil price shock generates appreciation and initially output falls …

Persistent link: https://www.econbiz.de/10012875978

Precautionary liquidity shocks, excess reserves and business cycles

Bratsiotis, George; Theodoridis, Konstantinos - 2020

(volatility) dependent effects on the real economy. To understand the transmission of the shock, we develop a DSGE model of …

Persistent link: https://www.econbiz.de/10012876010

Financial development and economic growth in a microfounded small open economy model

Zhang, Bo; Zhou, Peng - 2021

The global financial crisis since 2008 revived the debate on whether or not and to what extent financial development contributes to economic growth. This paper reviews different theoretical schools of thought and empirical findings on this nexus, building on which we aim to develop a unified,...

Persistent link: https://www.econbiz.de/10012876030

El rol de la inversión pública: El caso de Bolivia

Alarcón Gambarte, Samuel - 2020

Since 2006, Bolivia began an intensive public investment program under its development plan. Fourteen years later, I analyze the role of this expansionary fiscal policy. In this regard, I develop a Dynamic Stochastic General Equilibrium Model for a small, open and developing country. Among the...

Persistent link: https://www.econbiz.de/10013162466

ifo DSGE model 2.0

Šauer, Radek - 2022

This documentation concisely describes the dynamic stochastic general-equilibrium model that the ifo Institute currently uses for simulations and business-cycle analysis. The model consists of three countries and contains a wide range of rigidities. The model is regularly estimated by quarterly...

Persistent link: https://www.econbiz.de/10013164132

Forecasting for the optimal numbers of COVID-19 infection to maintain economic circular flows of Thailand

In: Economies 9 (2021) 4, pp. 1-24

figure out. Our theoretical model introduced dynamic stochastic general equilibrium (DSGE) models with a special emphasis on …

Persistent link: https://www.econbiz.de/10013199889

Skills versus luck: Bolivia and its recent bonanza

Chumacero, Rómulo A. - In: Latin American Economic Review 28 (2019) 1, pp. 1-27

This paper uses different approaches to determine the contribution of internal policies and external factors on the good performance of the Bolivian economy in the recent past. It is demonstrated that the extremely favorable external conditions are mainly responsible for its bonanza, and that...

Persistent link: https://www.econbiz.de/10013205113

Does inattentiveness matter for DSGE modelling? An empirical investigation

Chou, Jenyu; Easaw, Joshy Z.; Minford, Patrick - 2021

general equilibrium (DSGE) model in its usual form with full-information rational expectations and compare it with versions …

Persistent link: https://www.econbiz.de/10013272178