EconStor >
Rheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI), Essen >
Ruhr Economic Papers, RWI >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/26833
  
Title:Identifying sources of business cycle fluctuations in Germany 1975-1998 PDF Logo
Authors:Holtemöller, Oliver
Schmidt, Torsten
Issue Date:2008
Series/Report no.:Ruhr economic papers 68
Abstract:In this paper, we estimate a small New Keynesian dynamic stochastic general equilibrium (DSGE) model for Germany for the period from 1975 to 1998 and use it to identify the structural shocks, which have driven the business cycle. For this purpose we apply indirect inference methods, that is we specify the parameters of the theoretical model such that simulated data mimics observed data as closely as possible. In addition to the identification of structural shocks, we uncover the unobservable output gap, which is a prominent indicator in business cycle analysis. Furthermore, we show to which extent each identified shock has contributed to the business cycle fluctuations. - Business cycle accounting ; dynamic stochastic general equilibrium models ; Germany ; indirect inference ; New Keynesian macroeconomics
JEL:C32
C51
E32
ISBN:978-3-86788-071-8
Document Type:Working Paper
Appears in Collections:Ruhr Economic Papers, RWI
Publikationen von Forscherinnen und Forschern des RWI

Files in This Item:
File Description SizeFormat
582188334.PDF159.6 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/26833

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.