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Optimal Simple Monetary and Fiscal Rules under Limited Asset Market Participation
Motta, Giorgio; Tirelli, Patrizio - Dipartimento di Economia, Metodi Quantitativi e … - 2011
When the central bank is the sole policymaker, the combination of limited asset market participation and consumption habits can have dramatic implications for the optimal monetary policy rule and for stability properties of a business cycle model characterized by price and nominal wage...
Persistent link: https://www.econbiz.de/10008865965
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Agentes no ricardianos y rigideces nominales: su efecto sobre el principio de Taylor
Díaz, Sergio Ocampo - UNIVERSIDAD JAVERIANA - BOGOTÁ - 2011
El documento aborda los posibles efectos que puede tener la inclusión de agentes noricardianos en un modelo de equilibrio general dinámico sobre el llamado principio deTaylor; al hacerlo se encuentra que el principio de Taylor sólo se modifica bajo ciertascondiciones sobre las rigideces...
Persistent link: https://www.econbiz.de/10008914320
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Descomposición histórica de choques del tipo de cambio real en Colombia: un enfoque DSGE
P, Luis Alejandro Lee; Angélica María Quiroga E. - UNIVERSIDAD JAVERIANA - BOGOTÁ - 2010
El trabajo utiliza un modelo DSGE de ciclos reales con dos sectores productivos, uno transabley uno no transable, para …
Persistent link: https://www.econbiz.de/10008914326
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A dynamic stochastic general equilibrium model for Switzerland
Cuche-Curti, Nicolas Alexis; Dellas, Harris; Natal, … - Schweizerische Nationalbank (SNB) - 2009
This paper presents a DSGE (dynamic stochastic general equilibrium) model of the Swiss economy used since 2007 in the … variables under various scenarios for the Swiss economy, the model DSGE-CH serves as a laboratory for studying business cycles … and examining the effects of actual and hypothetical monetary policies. The microfounded model DSGE-CH represents …
Persistent link: https://www.econbiz.de/10008925071
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"Causes of Financial Instability: Don’t Forget Finance"
Bezemer, Dirk J. - Levy Economics Institute - 2011
widely considered a promising alternative to current macroeconomic practice dominated by DSGE models. Their failure is …
Persistent link: https://www.econbiz.de/10008925707
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Beyond the DSGE Straitjacket
Pesaran, Hashem; Smith, Ron P. - Institute for the Study of Labor (IZA) - 2011
, General Equilibrium (DSGE) models based on micro-foundations of optimising representative agents with rational expectations …. We argue that the dominance of this particular sort of DSGE and the resistance of some in the profession to alternatives …
Persistent link: https://www.econbiz.de/10009001092
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How Useful Are Estimated DSGE Model Forecasts for Central Bankers?
Edge, Rochelle M.; Gurkaynak, Refet S. - In: Brookings Papers on Economic Activity 41 (2010) 2 (Fall), pp. 209-259
Persistent link: https://www.econbiz.de/10009001926
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Changing economic structures and impacts of shocks — evidence from a DSGE model for China
Mehrotra, Aaron; Nuutilainen, Riikka; Pääkkönen, Jenni - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2011
We construct a small-scale dynamic stochastic general equilibrium (DSGE) model that features price rigidities, habit …
Persistent link: https://www.econbiz.de/10009003106
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Beyond the DSGE Straitjacket
Pesaran, Hashem M.; Smith, Ron P. - CESifo - 2011
, General Equilibrium (DSGE) models based on micro-foundations of optimising representative agents with rational expectations …. We argue that the dominance of this particular sort of DSGE and the resistance of some in the profession to alternatives …
Persistent link: https://www.econbiz.de/10009020781
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Policy Analysis Tool Applied to Colombian Needs: PATACON Model Description
González, Andrés; Mahadeva, Lavan; Prada, Juan D.; … - BANCO DE LA REPÚBLICA - 2011
In this document we lay out the microeconomic foundations of a dynamic stochastic general equilibrium model designed to forecast and to advice monetary policy authorities in Colombia. The model is called Policy Analysis Tool Applied to Colombian Needs (PATACON). In companion documents we present...
Persistent link: https://www.econbiz.de/10009021356