; Indexation ; Model ; Comparison … Bayesian techniques. A salient feature of the model is an extension of the typically postulated quadratic cost structure for … performance against the widespread extension of the Calvo setting with rule-of-thumb behavior. -- Bayesian ; Simulation …

Bayesian techniques. A salient feature of the model is an extension of the typically postulated quadratic cost structure for …This paper estimates a dynamic stochastic general equilibrium (DSGE) model for the European Monetary Union by using …

the sticky price and sticky wage model of Erceg, Henderson, and Levin (2002), its wage indexation variant, and the … baseline sticky price model with price indexation have similar data explanation power while it positions the baseline sticky …This paper estimates and compares four versions of the sticky price New Keynesian model for the Euro area, using a …

This paper estimates and compares four versions of the New Keynesian model with nominal rigidities using a Bayesian … rigidities. Third, introducing wage indexation does not significantly improve the fit. Fourth, all model estimates suggest a high … approach. Our empirical results are as follows. First, the authors find that adding price indexation improves the fit of Calvo …

utilization. When I estimate the model with Bayesian methods, I find that financial frictions are relevant in both areas … area. For this purpose, I modify the DSGE financial accelerator model developed by Bernanke, Gertler and Gilchrist (1999 …) by adding frictions such as price indexation to past inflation, sticky wages, consumption habits and variable capital …

utilization. When I estimate the model with Bayesian methods, I find that financial frictions are relevant in both areas … area. For this purpose, I modify the DSGE financial accelerator model developed by Bernanke, Gertler and Gilchrist (1999 …) by adding frictions such as price indexation to past inflation, sticky wages, consumption habits and variable capital …

second order properties of such models and propose a Markov chain Monte Carlo algorithm to carry out Bayesian inference on … the model's unknowns. Furthermore, a freeware software written by the author for the analysis of time series by means of …

Barbados’ real GDP. Relying on recent UC models techniques, it finds support for the UC model that captures correlated … disturbances, but not for the model that does not. The best model is the correlated UC model with two breaks: 1981 and 2008 …