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Comparing New Keynesian models of the business cycle: A Bayesian approach

✍ Scribed by Pau Rabanal; Juan F. Rubio-Ramírez

Book ID
113725680
Publisher
Elsevier Science
Year
2005
Tongue
English
Weight
224 KB
Volume
52
Category
Article
ISSN
0304-3932

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## Abstract This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy over a common sample period (1974–2002). The structural estimation methodology allows us to investigate whether differences in business cycle behaviour are due to differen