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Construction and Bayesian Estimation of DSGE Models for the EURO Area- A Statistical Framework [Paperback]

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Item description for Construction and Bayesian Estimation of DSGE Models for the EURO Area- A Statistical Framework by Ernest Pytlarczyk...

Dynamic Stochastic General Equilibrium (DSGE) models have become a standard tool in various fields of economics. This type of models has a superior theoretical foundation when compared to the Keynesian models which are traditionally used for policy analysis and forecasting. Although a lot has been done to improve the empirical properties of DSGE models, there is still a need for further research in this field. In this book, the author first considers a closed economy general equilibrium framework to empirically validate the alternative mechanisms for introducing nominal rigidities. As the comparison is done in the context of the Euro area aggregate data, the results provide guidance to researchers dealing with estimation of Euro area DSGE models in general. In the second part of the book, a coherent economic and statistical framework that approximates the structure of the EMU and explicitly accounts for the historical monetary regime change is presented. In such a framework the disaggregate information on the Euro area can be utilized, so that one can explain the area-wide aggregates, and also examine the cross-region linkages.



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Item Specifications...


Pages   260
Est. Packaging Dimensions:   Length: 9.5" Width: 6.6" Height: 0.6"
Weight:   0.9 lbs.
Binding  Softcover
Release Date   Oct 12, 2007
Publisher   VDM Verlag Dr. Mueller e.K.
ISBN  3836424800  
ISBN13  9783836424806  


Availability  148 units.
Availability accurate as of Jan 21, 2017 08:41.
Usually ships within one to two business days from La Vergne, TN.
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