Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/86117 
Year of Publication: 
2009
Series/Report no.: 
Working Paper No. 2009/42
Publisher: 
Banco Central de la República Argentina (BCRA), Investigaciones Económicas (ie), Buenos Aires
Abstract: 
The purpose of this paper is to advance in the construction and calibration/estimation of an intermediate DSGE model with two policy rules for Argentina and explore to what extent two policy rules can be better than one. The BCRA´s research department currently uses a very small and non-micro founded model with two policy rules which I designed a few years ago (MEP: Modelo Económico Pequeño (see Elosegui, Escudé, Garegnani and Sotes Paladino 2007)) as the backbone for a system of macro and monetary projections. During 2006-07 I constructed the much larger DSGE model ARGEM, mainly for research purposes. It seemed that there was need for an intermediate sized DSGE model that could be of help in bridging the gap between the two. ARGEMmy is the result of this new effort. Hopefully, it will help in bringing the DSGE modeling strategy closer to the policy environment.
Subjects: 
Argentina
Bayesian estimation
DSGE models
policy rules
JEL: 
C32
C63
Document Type: 
Working Paper

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