dynamic stochastic general equilibrium (DSGE) models
GPTKB entity
Statements (51)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
macroeconomic model
|
| gptkbp:basisFor |
policy simulation
macroeconomic forecasting modern central bank models |
| gptkbp:criticizedFor |
assumption of rational expectations
difficulty modeling financial crises excessive abstraction lack of empirical realism |
| gptkbp:developedBy |
1980s
|
| gptkbp:feature |
gptkb:government_ministry
gptkb:intertemporal_choice policy analysis capital accumulation dynamic optimization rational expectations calibration forecasting representative agent estimation general equilibrium market clearing microeconomic foundations nominal rigidities wage rigidity financial frictions productivity shocks stochastic shocks expectations formation labor market frictions aggregate shocks heterogeneous agents policy rules structural parameters firm optimization fiscal policy shocks household optimization monetary policy shocks nominal price stickiness real rigidities |
| https://www.w3.org/2000/01/rdf-schema#label |
dynamic stochastic general equilibrium (DSGE) models
|
| gptkbp:notableFigure |
gptkb:Edward_Prescott
gptkb:Finn_Kydland gptkb:Thomas_Sargent gptkb:Robert_Lucas |
| gptkbp:relatedTo |
new Keynesian models
real business cycle (RBC) models |
| gptkbp:usedBy |
policy makers
central banks |
| gptkbp:usedIn |
macroeconomics
|
| gptkbp:bfsParent |
gptkb:Real_Business_Cycle_theory
|
| gptkbp:bfsLayer |
7
|