McNELIS, PAUL D.; YOSHINO, NAOYUKI - In: Advances in Complex Systems (ACS) 15 (2012) su, pp. 1250057-1
This paper applies Bayesian estimation to an open-economy Dynamic Stochastic General Equilibrium (DSGE) model of Japan, to assess the effects of expanding government debt on interest rates, real exchange rate dynamics, and real sector performance. We find that the emergence of even a small risk...