We estimate a model for the US economy with monetary/fiscal policy mix changes. Monetary
policy accommodated fiscal policy through the'60s–'70s leading to high inflation. Monetary …

The issue of identification arises whenever structural models are estimated. Lack of
identification means that the empirical implications of some model parameters are either …

We use a general equilibrium model to show that a decrease in workers' bargaining power
amplifies the contribution to the output gap of adjustments along the extensive versus …

This paper examines the issue of weak identification in maximum likelihood, motivated by
problems with estimation and inference in a multidimensional dynamic stochastic general …

This article is concerned with local identification of individual parameters of dynamic
stochastic general equilibrium (DSGE) models estimated by Bayesian methods …

We contribute to an emerging literature that brings the constant elasticity of substitution
(CES) specification of the production function into the analysis of business cycle fluctuations …

This paper examines how and to what extent parameter estimates can be biased in a
dynamic stochastic general equilibrium (DSGE) model that omits the zero lower bound (ZLB) …

Much of the research on fiscal multipliers has used reduced form modelling approaches.
While these models have been extended to include richer controls and identification …

In this paper, we develop a small open economy New Keynesian dynamic stochastic
general equilibrium (DSGE) model to understand the relative importance of two key …

We assess the role of monetary policy news shocks in the context of a medium scale DSGE
model estimated on US data. We estimate several versions of the model and find decisive …