Evidence on Features of a DSGE Business Cycle model from Bayesian Model Averaging
The empirical support for features of a Dynamic Stochastic General Equilibrium model with two technology shocks is evaluated using Bayesian model averaging over vector autoregressions. The model features include equilibria, restrictions on long-run responses, a structural break of unknown date, and a range of lags and deterministic processes. We find support for a number of features implied by the economic model, and the evidence suggests a break in the entire model structure around 1984, after...[Show more]
|Collections||ANU Research Publications|
|Source:||International Economic Review|
|01_Strachan_Evidence_on_Features_of_a_DSGE_2013.pdf||132.05 kB||Adobe PDF||Request a copy|
|02_Strachan_Evidence_on_Features_of_a_DSGE_2013.pdf||745.92 kB||Adobe PDF||Request a copy|
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