Work

Estimation and Evaluation of DSGE Models: Progress and Challenges

Year: 2011

Type: report

Abstract: Estimated dynamic stochastic equilibrium (DSGE) models are now widely used for empirical research in macroeconomics as well as for quantitative policy analysis and forecasting at central banks around the world.This paper reviews recent advances in the estimation and evaluation of DSGE models, discusses current challenges, and provides avenues for future research.

Source: Working paper

DOI: 10.21799/frbp.wp.2011.07

Author: Frank Schorfheide

Institutions: Center for Economic and Policy Research, Federal Reserve Bank of Philadelphia, University of Pennsylvania

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: bronze

Funders: National Science Foundation, University of Pennsylvania

Award: Generalized Bayesian Estimation, Forecasting, and Policy Analysis in Dynamic Stochastic General Equilibrium Macroeconomic Models

OpenAlex ID: W4366807439

Cites: 47

Cited by: 29

Related to: 10