Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/215440 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
Sveriges Riksbank Working Paper Series No. 362
Verlag: 
Sveriges Riksbank, Stockholm
Zusammenfassung: 
In this paper, we study identification and misspecification problems in standard closed and open-economy empirical New-Keynesian DSGE models used in monetary policy analysis. We find that problems with model misspecification still appear to be a first-order issue in monetary DSGE models, and argue that it is problems with model misspecification that may benefit the most from moving from a classical to a Bayesian framework. We also argue that lack of identification should neither be ignored nor be assumed to affect all DSGE models. Fortunately, identification problems can be readily assessed on a case-by-case basis, by applying recently developed pre-tests of identification.
Schlagwörter: 
Bayesian estimation
Monte-Carlo methods
Maximum Likelihood Estimation
DSGE Model
Closed economy
Open economy
JEL: 
C13
C51
E30
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
1.23 MB





Publikationen in EconStor sind urheberrechtlich geschützt.