Empirical properties of closed- and open-economy DSGE models of the Euro area
2008 (English)In: Macroeconomic dynamics (Print), ISSN 1365-1005, E-ISSN 1469-8056, Vol. 12, 2-19 p.Article in journal (Refereed) Published
In this paper, we compare the empirical proper-ties of closed- and open-economy DSGE models estimated on Euro area data. The comparison is made along several dimensions; we examine the models in terms of their marginal likelihoods, forecasting performance, variance decompositions, and their transmission mechanisms of monetary policy.
Place, publisher, year, edition, pages
2008. Vol. 12, 2-19 p.
open economy, closed economy, DSGE model, Bayesian inference
Probability Theory and Statistics
IdentifiersURN: urn:nbn:se:su:diva-58557DOI: 10.1017/S1365100507070101ISI: 000254509500002OAI: oai:DiVA.org:su-58557DiVA: diva2:421243
authorCount :42011-06-082011-06-032011-06-08Bibliographically approved