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

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

A multivariate regime-switching model for monetary policy is confronted with US data. The
best fit allows time variation in disturbance variances only. With coefficients allowed to …

Multivariate simultaneous equations models were used extensively for macroeconometric
analysis when Sims (1980) advocated vector autoregressive (VAR) models as alternatives …

This chapter provides an overview of solution and estimation techniques for dynamic
stochastic general equilibrium models. We cover the foundations of numerical …

A financial stress index for the United States is introduced—one used by the staff of the
Federal Reserve Board during the financial crisis of 2008–2009—and its׳ interaction with …

Growth has been the hallmark for China. In recent years, however, China's gross domestic
product (GDP) growth has slowed down considerably while countercyclical government …

The evolution of the US economy over the past 55 years is examined through the lens of a
micro-founded model that allows for changes in the behaviour of the Federal Reserve and in …

For forecasting and economic analysis many variables are used in logarithms (logs). In time
series analysis, this transformation is often considered to stabilize the variance of a series …

Inference for multiple-equation Markov-chain models raises a number of difficulties that are
unlikely to appear in smaller models. Our framework allows for many regimes in the …