Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/51775
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dc.contributor.authorPesaran, Hashemen_US
dc.contributor.authorSmith, Ron P.en_US
dc.date.accessioned2011-08-23en_US
dc.date.accessioned2011-11-23T11:35:03Z-
dc.date.available2011-11-23T11:35:03Z-
dc.date.issued2011en_US
dc.identifier.piurn:nbn:de:101:1-201104283168en_US
dc.identifier.urihttp://hdl.handle.net/10419/51775-
dc.description.abstractAcademic 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.isoengen_US
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen_US
dc.relation.ispartofseries|aDiscussion paper series // Forschungsinstitut zur Zukunft der Arbeit |x5661en_US
dc.subject.jelC1en_US
dc.subject.jelE1en_US
dc.subject.ddc330en_US
dc.subject.keywordmacroeconometric modelsen_US
dc.subject.keywordDSGEen_US
dc.subject.keywordVARsen_US
dc.subject.keywordlong run theoryen_US
dc.subject.stw├ľkonometrisches Makromodellen_US
dc.subject.stwDynamisches Gleichgewichten_US
dc.subject.stwKritiken_US
dc.subject.stwTheorieen_US
dc.titleBeyond the DSGE straitjacketen_US
dc.typeWorking Paperen_US
dc.identifier.ppn666546231en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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