In this paper, we estimate a small New Keynesian dynamic stochastic general equilibrium (DSGE) model for Germany for … identified shock has contributed to the business cycle fluctuations. - Business cycle accounting ; dynamic stochastic general …

This paper studies how rare disasters and uncertainty shocks affect risk premia in DSGE models approximated to second … propositions for how rare disasters, stochastic volatility, and GARCH affect any type of risk premia in a wide class of DSGE models …. To quantify the effects, we set up a standard New Keynesian DSGE model where total factor productivity includes rare …

We construct a new-Keynesian DSGE model tailored to the Netherlands and interpret it as a multivariate unobserved …

-sized uncertainty shock generates a larger contraction in real activity when growth is low (as in recessions) than when growth is high …