Construction and Bayesian Estimation of DSGE Models for the EURO Area- A Statistical Framework - Softcover

Pytlarczyk, Ernest

Softcover

ISBN 10: 3836424800 ISBN 13: 9783836424806

Verlag: VDM Verlag Dr. Mueller e.K., 2007

Inhaltsangabe

Dynamic Stochastic General Equilibrium (DSGE) models have become a standardtool in various fields of economics. This type of models has a superiortheoretical foundation when compared to the Keynesian models which aretraditionally used for policy analysis and forecasting. Although a lot has beendone to improve the empirical properties of DSGE models, there is still a needfor further research in this field. In this book, the author first considers aclosed economy general equilibrium framework to empirically validate the alternativemechanisms for introducing nominal rigidities. As the comparison isdone in the context of the Euro area aggregate data, the results provide guidanceto researchers dealing with estimation of Euro area DSGE models in general.In the second part of the book, a coherent economic and statisticalframework that approximates the structure of the EMU and explicitly accountsfor the historical monetary regime change is presented. In such aframework the disaggregate information on the Euro area can be utilized, sothat one can explain the area-wide aggregates, and also examine the cross-regionlinkages.

Details zur Ausgabe

• Verlag: VDM Verlag Dr. Mueller e.K.
• Erscheinungsdatum: 2007
• Sprache: Englisch
• ISBN 10: 3836424800
• ISBN 13: 9783836424806
• Einband: Tapa blanda
• Anzahl der Seiten: 260
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Nicht verfügbar