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IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA) >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/51775
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Pesaran, Hashem | | en_US |
| dc.contributor.author | | Smith, Ron P. | | en_US |
| dc.date.accessioned | | 2011-08-23 | | en_US |
| dc.date.accessioned | | 2011-11-23T11:35:03Z | | - |
| dc.date.available | | 2011-11-23T11:35:03Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.pi | | urn:nbn:de:101:1-201104283168 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/51775 | | - |
| dc.description.abstract | | Academic macroeconomics and the research department of central banks have come to be dominated by Dynamic, Stochastic, General Equilibrium (DSGE) models based on micro-foundations of optimising representative agents with rational expectations. We argue that the dominance of this particular sort of DSGE and the resistance of some in the profession to alternatives has become a straitjacket that restricts empirical and theoretical experimentation and inhibits innovation and that the profession should embrace a more flexible approach to macroeconometric modelling. We describe one possible approach. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | IZA Bonn | | en_US |
| dc.relation.ispartofseries | | Discussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5661 | | en_US |
| dc.subject.jel | | C1 | | en_US |
| dc.subject.jel | | E1 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | macroeconometric models | | en_US |
| dc.subject.keyword | | DSGE | | en_US |
| dc.subject.keyword | | VARs | | en_US |
| dc.subject.keyword | | long run theory | | en_US |
| dc.subject.stw | | Ökonometrisches Makromodell | | en_US |
| dc.subject.stw | | Dynamisches Gleichgewicht | | en_US |
| dc.subject.stw | | Kritik | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Beyond the DSGE straitjacket | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 666546231 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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