The use of DSGE models in economic analysis and research

• Κύριος συγγραφέας: Σταμπέλος, Ιωάννης
• Άλλοι συγγραφείς: Stampelos, Ioannis
• Γλώσσα: English
• Έκδοση: 2022
• Θέματα: DSGE models; Real GDP; Bussiness cycle; Calibration; Μοντέλα DSGE; Επιχειρηματικός κύκλος

In this paper I examined the use of DSGE models in economic analysis and research. First of all, I presented two models of DSGE models, and I showed their characteristics in some sectors. Also, I showed the consequences to real GDP and business cycle due to Great Recession. Moreover, I showed the features of calibration and then I presented an example of calibration with Greek data. Furthermore, I checked the relationship of DSGE models with VAR models and I examined the impulse of DSGE models in Euro area and in monetary policy committee. Lastly, I outlined the basic disadvantages of DSGE models and the possible solutions in order to make them better.