WebOct 19, 2024 · To illustrate this point, we use a version of the DSGE model developed by Del Negro, Giannoni, and Schorfheide (2015). We compare the effect of an unanticipated monetary policy rule shock on inflation … WebAug 4, 2024 · For example, Sokang (2024) from the investigation of the effect of FDI on the economic growth of Cambodia, found a positive and significant relationship between …
Policy Analysis Using DSGE Models: An Introduction
Web2. Literature review. Research on the dynamic characteristics of inflation has always been the core of macroeconomics. In the 1990s, Gali and Gertler (Citation 1999), Clarida et al. … WebMay 13, 2024 · The ability of DSGE models to quantitatively reveal macroeconomic fluctuations are then strengthened after seminal works of Christiano et al. [ 14] on the inertia and persistence of inflation in aggregate quantities subject to a monetary policy shock and Smets & Wouters [ 15] on Bayesian estimation of monetary business cycle model with … free covid tests in north las vegas
External shocks in a small open economy: an evaluation of …
The chart below shows in red the evolution of the 12-month inflation rate in the Personal Consumption Expenditures (PCE) price index excluding food and energy (core PCE) since 2000. Its recent increase is especially striking against the backdrop of extremely stable inflation around 2 percent in the previous two … See more What factors underlie this surge in inflation? DSGE models are especially useful tools to address this type of question because … See more By including both transitory and persistent pricing shocks, the model encompasses two key narratives that have animated the debate on the sources of inflation over the past year. The first … See more The identification of the factors driving inflation is only as good as the model that produces it, and our model is omitting many relevant … See more We have argued above that our model does not attribute all notable movements in inflation to cost-push shocks by construction. In fact, … See more WebDec 1, 2007 · DSGE models have several benefits which make them attractive for the analysis of macroeconomic policy: They are structural in the sense each equation has an economic interpretation. Policy … WebThis paper examines the international transmission effects that a positive supply shock in emerging economies may have on inflation in developed economies. We construct a dynamic stochastic general equilibrium (DSGE) model for three countries and analyze the impact of a supply shock in an emerging economy, the People’s Republic of China (PRC), free covid tests ireland