Dynamic Stochastic General Equilibrium (DSGE) Concept

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Authors

MUSIL Karel

Year of publication 2007
Type Article in Proceedings
Conference Recenzovaný sborník Mezinárodní Baťovy Dokrorandské Konference
MU Faculty or unit

Faculty of Economics and Administration

Citation
Field Economy
Keywords Dynamic Stochastic General Equilibrium (DSGE) model; price rigidity; imperfect competition; representative household; open economy model; monetary policy
Description The paper introduces some basic characteristics of Dynamic Stochastic General Equilibrium (DSGE) models. There is an attempt to define a category of the DSGE models. After a brief description of the development (with an emphasized position of the Redux model), the paper offers a short summary of the basic features of the DSGE models connected to general characteristics, rigidities, market structure and competition, representative households, open economy models and monetary policy.
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