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 …

This paper develops and estimates a dynamic stochastic general equilibrium (DSGE) model
with sticky prices and wages for the euro area. The model incorporates various other …

The substantially revised fourth edition of a widely used text, offering both an introduction to
recursive methods and advanced material, mixing tools and sample applications. Recursive …

Macroeconomics was born as a distinct field in the 1940's, as a part of the intellectual
response to the Great Depression. The term then referred to the body of knowledge and …

The standard theory of decision making under uncertainty advises the decision maker to
form a statistical model linking outcomes to decisions and then to choose the optimal …

The last twenty years have witnessed tremendous advances in the mathematical, statistical,
and computational tools available to applied macroeconomists. This rapidly evolving field …

Dynamic stochastic general equilibrium (DSGE) models have become one of the
workhorses of modern macroeconomics and are extensively used for academic research as …

Estimated dynamic stochastic equilibrium (DSGE) models are now widely used for empirical
research in macroeconomics as well as for quantitative policy analysis and forecasting at …

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 …

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 …