Estimation and Evaluation of DSGE Models: Progress and Challenges
52 Pages Posted: 4 Feb 2011
There are 3 versions of this paper
Estimation and Evaluation of DSGE Models: Progress and Challenges
Estimation and Evaluation of DSGE Models: Progress and Challenges
Estimation and Evaluation of DSGE Models: Progress and Challenges
Date Written: January 31, 2011
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.
Keywords: Bayesian Inference, DSGE Models, Hybrid Models, Identification, Misspecification, Policy Analysis, Shock Specification
JEL Classification: C5, E4, E5
Suggested Citation: Suggested Citation
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