DSGE models in macroeconomics : estimation, evaluation, and new development
Title: DSGE models in macroeconomics : estimation, evaluation, and new development
Citation: Bingley : Emerald, 2012, Advances in Econometrics, Vol. 28
This volume of Advances in Econometrics is devoted to dynamic stochastic general equilibrium (DSGE) models. The editors (of Southern Methodist U., the U. of California, and the Federal Reserve Bank of Dallas in the US; and U. Pompeu Fabra in Spain) present ten chapters in two parts. The first covers topics in DSGE modeling and estimation practice, including the modeling and role of expectations, the study of alternative pricing models, the possible weak identification in new open economy macro models, and the modeling of trend inflation. The second is devoted to innovations in econometric methodology, including new techniques for addressing key theoretical and inferential problems. It includes discussion of applications of Laplace-type, frequency domain, empirical likelihood, and method of moment estimators.
Table of Contents:
-- The modeling of expectations in empirical DSGE models: a survey -- Optimal monetary policy in an estimated local currency pricing model -- News, non-invertibility, and structural VARS -- Baysian estimation of NOEM models: identification and inference in small samples -- Fitting U.S. trend inflation: a rolling-window approach -- Expectation formation and monetary DSGE models: beyond the rational expectations paradigm -- Approximation properties of laplace-type estimators -- Frequency domain analysis of medium scale DSGE models with application to Smets and Wouters (2007) -- On the estimation of dynamic stochastic general equilibrium models: an empirical likelihood approach -- Structural estimation of the new-Keynesian model: a formal test of backward- and forward-looking behavior
Type of Access: openAccess