History of the Dynamic Stochastic General Equilibrium (DSGE) Approach
| Authors | |
|---|---|
| Year of publication | 2007 |
| Type | Article in Proceedings |
| Conference | MEKON 2007, Sborník abstraktů příspěvků IX. ročníku mezinárodní konference EKF VŠB - TU Ostrava |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Dynamic Stochastic General Equilibrium (DSGE) model; structural model; RBC model; the Redux model; New Keynesian DSGE model |
| Description | The paper describes basic characteristics of the Dynamic Stochastic General Equilibrium (DSGE) theory and its application on a modeling. It introduces reasons for an establishing and development of the theory. It tries to specify a relatively very heterogeneous group of the DSGE models and their connection to the GE models. The part about history of the DSGE theory contains a description of the Redux model, an introduction of its basic characteristics and its influence on a subsequent development of economic models. There is and attempt to explain a connection between the DSGE models and the New Keynesian theory as well. |
| Related projects: |