Bayesian Estimation of DSGE Models (The Econometric and Tinbergen Institutes Lectures)

Amazon.com Price: $27.83 (as of 11/10/2019 09:06 PST- Details)

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Dynamic stochastic general equilibrium (DSGE) models have turn out to be some of the workhorses of up to date macroeconomics and are extensively used for academic research in addition to forecasting and policy analysis at central banks. This book introduces readers to cutting-edge computational techniques used within the Bayesian analysis of DSGE models. The book covers Markov chain Monte Carlo techniques for linearized DSGE models, novel sequential Monte Carlo methods that can be utilized for parameter inference, and the estimation of nonlinear DSGE models in response to particle filter approximations of the likelihood function. The theoretical foundations of the algorithms are discussed in depth, and detailed empirical applications and numerical illustrations are provided. The book also gives invaluable advice on tailor these algorithms to specific applications and assess the accuracy and reliability of the computations.

Bayesian Estimation of DSGE Models is very important reading for graduate students, academic researchers, and practitioners at policy institutions.

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Bayesian Estimation of DSGE Models (The Econometric and Tinbergen Institutes Lectures)

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