Search results for "DSGE Models"

showing 2 items of 2 documents

Spain in the euro: a general equilibrium analysis

2010

Bayesian dynamic stochastic general equilibrium (DSGE) models combine microeconomic behavioural foundations with a full-system Bayesian likelihood estimation approach using key macro-economic variables. Because of the usefulness of this class ofmodels for addressing questions regarding the impact and consequences of alternative monetary policies they are nowadays widely used for forecasting and policy analysis at central banks and other institutions. In this paper we provide a brief description of the two main aggregate euro area models at the ECB. Both models share a common core but their detailed specification differs reflecting their specific focus and use. The New Area Wide Model (NAWM)…

MacroeconomicsDynamisches GleichgewichtInflationGeneral equilibrium theorycentral banksmedia_common.quotation_subjectmonetary policyWageMonetary economicsDSGE modelsE50Rest (finance)ddc:330EconomicsDynamic stochastic general equilibriumProductivityC5DSGE model monetary union growth and inflation differentials Bayesian inferenceE32Spanienmedia_commonWirtschaftswachstumEurojel:C51jel:C11Inflationjel:E17EurozoneEuropean monetary unionGeneral Economics Econometrics and FinanceB4Public finance
researchProduct

Why do we need to replace DSGE models? A critical view on pre-crisis central bank models

2015

Financial Instability and Economic Development in Emerging Markets: Controversies and Critical Issues, Sinapi, C. & Radonjić, C (eds); National audience

[ SHS.ECO ] Humanities and Social Sciences/Economies and finances[SHS.ECO] Humanities and Social Sciences/Economics and Finance[SHS.ECO]Humanities and Social Sciences/Economics and FinanceBank modelsDSGE Models
researchProduct