Structural estimation of the output gap: A bayesian dsge approach

Yasuo Hirose, Saori Naganuma

研究成果: Article

4 引用 (Scopus)

抜粋

We estimate the output gap that is consistent with a standard New Keynesian dynamic stochastic general equilibrium (DSGE) model, where the output gap is defined as a deviation of output from its flexible-price equilibrium, using Bayesian methods. Our output gap illustrates the U.S. business cycles well, compared with other estimates. We find that the main source of the output gap movements is the demand shocks, but that the productivity shocks contributed to the stable output gap in the late 1990s. The robustness analysis shows that the estimated output gap is sensitive to the specification for monetary policy rules. (JEL E30, E32, C11).

元の言語English
ページ(範囲)864-879
ページ数16
ジャーナルEconomic Inquiry
48
発行部数4
DOI
出版物ステータスPublished - 2010 10 1
外部発表Yes

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

フィンガープリント Structural estimation of the output gap: A bayesian dsge approach' の研究トピックを掘り下げます。これらはともに一意のフィンガープリントを構成します。

  • これを引用