This paper reviews Bayesian methods that have been developed in recent years to estimate
and evaluate dynamic stochastic general equilibrium (DSGE) models. We consider the …

This paper motivates and describes an approach to forecasting and monetary policy
analysis based on the use of a simple structural macroeconomic model, along the lines of …

Using a Bayesian likelihood approach, we estimate a dynamic stochastic general
equilibrium model for the US economy using seven macroeconomic time series. The model …

We quantify government spending multipliers in US data using Bayesian prior and posterior
analysis of a monetary model with fiscal details and two distinct monetary-fiscal policy …

Over the postwar period, many industrialized countries have experienced significant
medium-frequency oscillations between periods of robust growth versus relative stagnation …

In this paper, we develop a dynamic stochastic general equilibrium (DSGE) model for an
open economy, and estimate it on Euro area data using Bayesian estimation techniques …

We investigate the implications of changes in the structure of the US economy for monetary
policy effectiveness. Estimating a vector autoregression over the pre-and post-1980 periods …

We consider two kinds of answers to the title question: Do random shifts in monetary policy
account for historical recessions, and would changes in the systematic component of …

This paper shows how particle filtering facilitates likelihood-based inference in dynamic
macroeconomic models. The economies can be non-linear and/or non-normal. We describe …

Monetary DGSE models under rational expectations typically require large degrees of
features as habit formation in consumption and inflation indexation to match the inertia of …