Bayesian Estimation of an Open Economy DSGE Model with Incomplete Pass-Through

By Malin Adolfson, Stefan Laséen, J. Lindé, Mattias Villani. 2007

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View Paper: https://www.semanticscholar.org/paper/e8d216b56a97ee6bf341f7b3319c551d35357902

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In Economics and Econometrics

Citations in the corpus

Forecasting Performance of an Open Economy DSGE Model (2007, background): “, the great ratios) and are therefore relatively easy to calibrate (see Adolfson et al., 2005 for details). The remaining 51 model parameters are estimated. The estimated parameters pertain mostly to the nominal and real frictions in the model as well as to the exogenous shock processes described ab”
Bayesian Analysis of DSGE Models (2006, neutral): “Adolfson et al. (2004) analyze an open economy model that includes capital accumulation as well as numerous real and nominal frictions.”
Quantifying and Sustaining Welfare Gains from Monetary Commitment (2007, positive): “First, the robustness of our finding that gains from commitment may be far higher than previously thought needs to investigated further across an number of other DSGE models, including the SW model fitted to US data and small open economy models such as Adolfson et al. (2004).”
Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area (2013, result): “We center the priors related to the elasticity of substitution between home and foreign non-durables, the elasticity of labor supply and the coe¢ cient measuring costly labor reallocation to parameters available in the literature (Smets and Wouters, 2003; Iacoviello and Neri, 2010; and Adolfson et a”
The Chilean Business Cycles Through the Lens of a Stochastic General Equilibrium Model (2007, background): “References [1] Adolfson, M.”
Labor Market Reform and Price Stability: An Application to the Euro Area (2009, background): “The latter can be loosely interpreted as the in-sample fit of the model, as discussed by Adolfsson et al. (2007). Overall, the fit is reasonably good, especially for output, employment and year-on-year inflation.”
Sharing a Ride on the Commodities Roller Coaster: Common Factors in Business Cycles of Emerging Economies (2015, methodology): “pt = φ ( pt , 1 ) = [ (1− αc) ( pt )1−ηc + αc (1) 1−ηc ] 1 1−ηc (5)”
DSGE Models in a Data-Rich Environment (2006, positive): “Finally the exogenous disturbance εt is a preference shocks that multiplies the entire utility function and that is assumed to follow and AR(1) process with degree of serial correlation ρb.”
Using monetary policy to stabilize economic activity (2009, background): “Standard open market operations continue to have fiscal implications at the ZLB, and these fiscal effects can help stimulate aggregate spending.”
Habit Formation in Consumption: A Meta-Analysis (2017, background): “(2008) Del Negro and Schorfheide (2008) Auray and Feve (2008) Sommer (2007) Smets and Wouters (2007) Rabanal (2007) Milani (2007) Laforte (2007) Del Negro (2007) Browning and Collado (2007) Adolfson et al. (2007) Boivin and Giannoni (2006) Batini et al.”
How Structural Are Structural Parameters? [with Comments and Discussion] (2007, methodology): “As in the case of policy parameters, we specify an AR(1) as the law of motion for the parameters:”
Understanding the flattening Phillips curve (2010, background): “central banks worldwide (for example at the Riksbank ( Adolfson, Laseen, Linde and Villani 2007 ) and the Bank of Canada (Murchison and Rennison 2007)).”