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|Title:||An Estimated New Keynesian Dynamic Stochastic General Equilibrium Model of the Euro Area|
|Authors:||RATTO MARCO; GIRARDI RICCARDO; ROEGER Werner; INT VELD Jan|
|Citation:||European Economy Economic Papers no. 220 p. 1-45|
|JRC Publication N°:||JRC41781|
|Type:||Articles in Journals|
|Abstract:||This paper applies Bayesian estimation techniques to a time series data set of the euro area and presents estimates of a DSGE model. The purpose of this paper is not to estimate the current version of the QUEST model directly with these methods but rather to estimate a prototype new generation New-Keynesian DSGE model. This model can then serve as a benchmark for an estimation of a QUEST specification. In fact in some dimensions the QUEST model may need to be adjusted to come closer to a DSGE model.|
|JRC Institute:||Institute for the Protection and Security of the Citizen|
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