期刊
JOURNAL OF MONETARY ECONOMICS
卷 55, 期 7, 页码 1191-1208出版社
ELSEVIER
DOI: 10.1016/j.jmoneco.2008.09.006
关键词
Bayesian analysis; DSGE models; Model comparisons; Prior elicitation; Nominal rigidities
We discuss prior elicitation for the parameters of dynamic stochastic general equilibrium (DSGE) models, and provide a method for constructing prior distributions for a Subset of these parameters from beliefs about steady-state relationships and second moments of the endogenous variables. The empirical application documents how the specification of the prior distribution affects our assessment of the relative importance of price and wage rigidities in a New Keynesian DSGE model. (C) 2008 Elsevier B.V. All rights reserved.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据