Arbeitspapier
The Ifo DSGE Model for the German Economy
This paper estimates a medium-scale open economy DSGE model for Germany and therest of the Euro Area (REA). The parameter estimates indicate that there is a modestdegree of structural heterogeneity between Germany and the rest of the Euro Area. Inparticular, (i) the private sector in Germany tends to adjust its capital stock faster thanits counterpart in the REA, (ii) the innovations to government spending as well as thoseto the degree of competition in goods markets are relatively more volatile in Germanyand (iii) nominal prices and wages appear to be slightly more flexible in Germany thanin the REA. A comparison based on marginal likelihoods shows that the DSGE modelfits the observable macroeconomic time series similarly well as unrestricted BayesianVARs (BVARs) estimated on the same data set.
- Sprache
-
Englisch
- Erschienen in
-
Series: ifo Working Paper ; No. 210
- Klassifikation
-
Wirtschaft
Bayesian Analysis: General
Model Construction and Estimation
General Aggregative Models: Forecasting and Simulation: Models and Applications
- Thema
-
DSGE model
German economy
monetary union
Bayesian estimation.
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hristov, Nikolay
- Ereignis
-
Veröffentlichung
- (wer)
-
ifo Institute - Leibniz Institute for Economic Research at the University of Munich
- (wo)
-
Munich
- (wann)
-
2016
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hristov, Nikolay
- ifo Institute - Leibniz Institute for Economic Research at the University of Munich
Entstanden
- 2016
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