
handle: 10419/77747
In this paper, I review the literature on the formulation and estimation of dynamic stochastic general equilibrium (DSGE) models with a special emphasis on Bayesian methods. First, I discuss the evolution of DSGE models over the last couple of decades. Second, I explain why the profession has decided to estimate these models using Bayesian methods. Third, I briefly introduce some of the techniques required to compute and estimate these models. Fourth, I illustrate the techniques under consideration by estimating a benchmark DSGE model with real and nominal rigidities. I conclude by offering some pointers for future research.
Dynamisches Gleichgewicht, Bayesian methods, ddc:330, DSGE Models, Likelihood Estimation, Bayesian Methods, Neue Makroökonomik offener Volkswirtschaften, DSGE models, Bayes-Statistik, likelihood estimation, C13, Bayesian Methods; DSGE Models; Likelihood Estimation, Ökonometrie, E30, C11, jel: jel:E10, jel: jel:C13, jel: jel:E30, jel: jel:C11
Dynamisches Gleichgewicht, Bayesian methods, ddc:330, DSGE Models, Likelihood Estimation, Bayesian Methods, Neue Makroökonomik offener Volkswirtschaften, DSGE models, Bayes-Statistik, likelihood estimation, C13, Bayesian Methods; DSGE Models; Likelihood Estimation, Ökonometrie, E30, C11, jel: jel:E10, jel: jel:C13, jel: jel:E30, jel: jel:C11
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