This paper reviews Bayesian methods that have been developed in recent years to estimate
and evaluate dynamic stochastic general equilibrium (DSGE) models. We consider the …

The paper moves from a discussion of the challenges posed by the crisis to standard
macroeconomics and the solutions adopted within the DSGE community. Although several …

Dynare is a software platform for handling a wide class of economic models, in particular
dynamic stochastic general equilibrium (DSGE) and overlap** generations (OLG) models …

Summary Markov chain Monte Carlo and sequential Monte Carlo methods have emerged as
the two main tools to sample from high dimensional probability distributions. Although …

Abstract The late Jay Forrester founded the field of system dynamics 60 years ago. On this
anniversary I ask what lessons his remarkable life of innovation and impact hold for the field …

In this paper, I review the literature on the formulation and estimation of dynamic stochastic
general equilibrium (DSGE) models with a special emphasis on Bayesian methods. First, I …

This paper shows how particle filtering facilitates likelihood-based inference in dynamic
macroeconomic models. The economies can be non-linear and/or non-normal. We describe …

Monetary DGSE models under rational expectations typically require large degrees of
features as habit formation in consumption and inflation indexation to match the inertia of …

We propose a latent variables approach within a present‐value model to estimate the
expected returns and expected dividend growth rates of the aggregate stock market. This …

We investigate identification issues in DSGE models and their consequences for parameter
estimation and model evaluation when the objective function measures the distance …