Arbeitspapier
An estimated DSGE model with financial accelerator: The case of Tunisia
This paper estimates an open economy DSGE model with financial accelerator à la Bernanke et al. (1999)2, enriched with wage rigidities and imperfect exchange rate pass through. The objective of this paper is to assess the importance of financial frictions and their role in the transmission of transitory shocks in the Tunisian Economy. The model is estimated by Bayesian technics via Metropolis Hasting algorithm. Using Tunisian data, we obtain an estimate for the external risk premium, indicating the importance of the financial accelerator and the potential balance sheet vulnerabilities for macroeconomic fluctuations. Furthermore, results of the impulse responses functions model support that the inclusion of the financial accelerator magnifies the impact of shocks thereby increasing real fluctuations.
- Language
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Englisch
- Bibliographic citation
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Series: Graduate Institute of International and Development Studies Working Paper ; No. HEIDWP06-2020
- Classification
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Wirtschaft
- Subject
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DSGE
Financial frictions
Bayesian estimation
- Event
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Geistige Schöpfung
- (who)
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Ben Romdhane, Hager
- Event
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Veröffentlichung
- (who)
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Graduate Institute of International and Development Studies
- (where)
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Geneva
- (when)
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2020
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Ben Romdhane, Hager
- Graduate Institute of International and Development Studies
Time of origin
- 2020
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