In Bayesian analysis of dynamic stochastic general equilibrium (DSGE) models, prior distributions for some of the taste-and-technology parameters can be obtained from microeconometric or presample evidence, but it is difficult to elicit priors for the parameters that govern the law of motion of...

Some argue that central banks can improve monetary policy by including confidential supervisory assessments of banking organizations in their forecasts of inflation and unemployment. In this study we examine the extent to which forecasts of these variables would have been improved with the...

This study measures the informal economy of North Cyprus (NC) by using the MIMIC Model Approach. The data, picked up from the website of the North Cyprus State Planning Organization, start from 1977 and go to 2015. Because North Cyprus is a small island, the applicability of different models are...

This paper discusses prior elicitation for the parameters of dynamic stochastic general equilibrium (DSGE) models and provides a method for constructing prior distributions for a subset of these parameters from beliefs about the moments of the endogenous variables. The empirical application...

Economic analyses have produced widely differing estimates of the economic implications of policies for greenhouse gas (GHG) mitigation, ranging from high costs to modest benefits. The main reason for the differences appears to be differences in approaches and assumptions. This paper analyzes...

Some argue that central banks can improve monetary policy by including confidential supervisory assessments of banking organizations in their forecasts of inflation and unemployment. In this study we examine the extent to which forecasts of these variables would have been improved with the...