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RBA Glossary definition for DSGE model
DSGE model – Dynamic Stochastic General Equilibrium model
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23 Nov 2016
RDP
2016-08
Figure 10: Estimated Long-run Means. Recall that in the DSGE model output, consumption and real wages all grow at the same rate as TFP in steady state. ... The timing of the downward shift in these long-run means coincides remarkably closely with the
https://www.rba.gov.au/publications/rdp/2016/2016-08/results.html
The Slowdown in US Productivity Growth: Breaks and Beliefs
1 Oct 2016
RDP
2016-08
The mean of this prior distribution is similar to that used in other estimated US DSGE models, but the standard deviation is wider. ... Figure 10: Estimated Long-run Means. Recall that in the DSGE model output, consumption and real wages all grow at the
https://www.rba.gov.au/publications/rdp/2016/2016-08/full.html
Estimation
23 Nov 2016
RDP
2016-08
The mean of this prior distribution is similar to that used in other estimated US DSGE models, but the standard deviation is wider. ... Examples of estimated DSGE models that take account of the zero lower bound include Kulish, Morley and Robinson (2014)
https://www.rba.gov.au/publications/rdp/2016/2016-08/estimation.html
References
23 Nov 2016
RDP
2016-08
Kulish M, J Morley and T Robinson (2014), ‘Estimating DSGE Models with Forward Guidance’, UNSW Business School Research Paper No 2014 ECON32A. ... Slobodyan S and R Wouters (2012), ‘Learning in an Estimated Medium-Scale DSGE Model’, Journal of
https://www.rba.gov.au/publications/rdp/2016/2016-08/references.html
Appendix E: The Posterior Sampler
23 Nov 2016
RDP
2016-08
As we have continuous and discrete parameters we modify the standard set-up for Bayesian estimation of DSGE models. ... This approach is motivated by the randomised blocking scheme developed for DSGE models in Chib and Ramamurthy (2010).
https://www.rba.gov.au/publications/rdp/2016/2016-08/appendix-e.html