Dynamic Stochastic General Equilibrium (DSGE) models
GPTKB entity
Statements (57)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
macroeconomic model
|
| gptkbp:criticizedFor |
over-simplification
lack of empirical fit assumption of rational expectations ignoring financial frictions |
| gptkbp:developedBy |
gptkb:Finn_E._Kydland
gptkb:Edward_C._Prescott gptkb:Thomas_J._Sargent gptkb:Robert_Lucas |
| gptkbp:feature |
gptkb:IS_curve
gptkb:economic_policy gptkb:government_ministry gptkb:Taylor_rule gptkb:Phillips_curve gptkb:intertemporal_choice Bayesian estimation inflation capital accumulation dynamic optimization rational expectations calibration representative agent general equilibrium market clearing output gap policy simulation microeconomic foundations nominal interest rate nominal rigidities price stickiness wage stickiness monetary policy rules technology shocks productivity shocks stochastic shocks expectations formation impulse response analysis firm sector fiscal policy rules government spending shocks household sector labor supply shocks log-linearization preference shocks |
| https://www.w3.org/2000/01/rdf-schema#label |
Dynamic Stochastic General Equilibrium (DSGE) models
|
| gptkbp:originatedIn |
1980s
|
| gptkbp:relatedTo |
New Keynesian models
Real Business Cycle (RBC) models |
| gptkbp:usedBy |
policy makers
central banks |
| gptkbp:usedFor |
policy analysis
theoretical research forecasting |
| gptkbp:usedIn |
macroeconomics
|
| gptkbp:bfsParent |
gptkb:New_Keynesian_School
gptkb:Lawrence_Christiano |
| gptkbp:bfsLayer |
7
|