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RBA Glossary definition for DSGE model
DSGE model – Dynamic Stochastic General Equilibrium model
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Introduction
1 Jun 2015
RDP
2015-04
At the other end of the spectrum are microfounded dynamic stochastic general equilibrium (DSGE) models, which are mostly used for scenario analysis. ... In its pure or hybrid variants, it is also a central element of DSGE models used by most central
https://www.rba.gov.au/publications/rdp/2015/2015-04/introduction.html
See 8 more results from "RDP 2015-04"
A Multi-sector Model of the Australian Economy
14 May 2015
RDP
PDF
1314KB
informative. Within the set of internal models, the DSGE model is most often used for scenarioanalysis rather than forecasting. ... The response of economic activity to monetary policy shocks islarger in our model than in the the DSGE models of Buncic
https://www.rba.gov.au/publications/rdp/2015/pdf/rdp2015-07.pdf
The Sticky Information Phillips Curve: Evidence for Australia
15 Apr 2015
RDP
PDF
737KB
At the other end of the spectrum are microfounded dynamic stochasticgeneral equilibrium (DSGE) models, which are mostly used for scenario analysis.In between these two extremes are more microfounded single-equation ... In its pure or hybrid variants, it
https://www.rba.gov.au/publications/rdp/2015/pdf/rdp2015-04.pdf
Household Saving in Australia
4 Feb 2015
RDP
PDF
1171KB
5. Conclusion 25. Appendix A: A Simple Model of Age, Cohort and Time Effects 26. ... so we choose to include it in the form discussed above in our main model.
https://www.rba.gov.au/publications/rdp/2014/pdf/rdp2014-03.pdf
Fiscal Policy and the Inflation Target
4 Feb 2015
RDP
PDF
847KB
Coenen et al (2012) present a more detailed comparison of structural (mainly DSGE) models used by central banks, international organisations, and academics; they found FRB/US fiscal multipliers at fixed nominal ... 18. to those of recent DSGE models,
https://www.rba.gov.au/publications/rdp/2014/pdf/rdp2014-02.pdf
A State-space Approach to Australian GDP Measurement
4 Feb 2015
RDP
PDF
904KB
We work with Model 3 in this section; Models 1 and 2 arenested in Model 3 and can be recovered by setting appropriate parameters to zero. ... The inclusion ofthe unemployment rate, which increased in all three episodes, lowers Model 3’sestimate of GDP
https://www.rba.gov.au/publications/rdp/2014/pdf/rdp2014-12.pdf
Macroeconomic Consequences of Terms of Trade Episodes, Past and Present
4 Feb 2015
RDP
PDF
629KB
Research Discussion Paper. Macroeconomic Consequences of Terms of Trade Episodes, Past and Present. Tim Atkin, Mark Caputo, Tim Robinson and Hao Wang. RDP 2014-01. The Discussion Paper series is intended to make the results of the current economic
https://www.rba.gov.au/publications/rdp/2014/pdf/rdp2014-01.pdf
Estimating and Identifying Empirical BVAR-DSGE Models for Small Open Economies
2 Feb 2015
RDP
PDF
759KB
method of using a DSGE model toinform the priors of a Bayesian VAR. ... DSGE model(for a given vector of parameters) in Normal-inverted Wishart form.
https://www.rba.gov.au/publications/rdp/2013/pdf/rdp2013-06.pdf
An Empirical BVAR-DSGE Model of the Australian Economy
2 Feb 2015
RDP
PDF
657KB
3. Estimating the Models 8. 3.1 Estimating the DSGE Model 83.1.1 Estimating the large economy Minnesota VAR 83.1.2 DSGE calibration 103.1.3 DSGE posterior 12. ... 3. Estimating the Models. 3.1 Estimating the DSGE Model. We estimate the DSGE model
https://www.rba.gov.au/publications/rdp/2013/pdf/rdp2013-07.pdf
Reserves of Natural Resources in a Small Open Economy
2 Feb 2015
RDP
PDF
862KB
Thesetwo effects have been ignored in previous DSGE models with a natural resourcesector. ... 2.1 Theoretical. One approach used to study the effects of a resource price shock is to integrate anatural resource sector within a small open economy DSGE model
https://www.rba.gov.au/publications/rdp/2013/pdf/rdp2013-14.pdf