Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation Dynamic factor models and dynamic stochastic general equilibrium (DSGE) models are widely used for empirical research in ...
When estimating DSGE models, the number of observable economic variables is usually kept small, and it is conveniently assumed that DSGE model variables are perfectly measured by a single data series.
This post presents an update of the economic forecasts generated by the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (DSGE) model. We describe very briefly our forecast ...
In dynamic stochastic general equilibrium (DSGE) models, the household’s labor margin as well as consumption margin affects Arrow-Pratt risk aversion. This paper derives simple, closed-form ...
The basic inability of standard theoretical models to generate a sufficiently large and variable nominal bond risk premium has been termed the "bond premium puzzle." We show that the term premium on ...
This paper studies the short-term and long-term effects of tax policy changes on the Japanese economy by using a small open economy dynamic stochastic general equilibrium (DSGE) model with endogenous ...
THE models that dismal scientists use to represent the way the economy works are sometimes found wanting. The Depression of the 1930s and the “stagflation” of the 1970s both forced rethinks. The ...
This paper investigates the relationships between aggregate shocks and individual products in the economy, aiming to inform macroeconomic policy and address sectoral imbalances. Using Japanese ...
This post presents an update of the economic forecasts generated by the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (DSGE) model. We describe very briefly our forecast ...
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