| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7319 |
| DP7319 Heterogeneous Price Information and the Effect of Competition | |
| Saul Lach; José-Luis Moraga-González | |
| 发表日期 | 2009-06-07 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | In this paper, we provide a brief introduction to a new macroeconometric model of the Spanish economy named MEDEA (Modelo de Equilibrio Dinámico de la Economía EspañA). MEDEA is a dynamic stochastic general equilibrium (DSGE) model that aims to describe the main features of the Spanish economy for policy analysis, counterfactual exercises, and forecasting. MEDEA is built in the tradition of New Keynesian models with real and nominal rigidities, but it also incorporates aspects such as a small open economy framework, an outside monetary authority such as the ECB, and population growth, factors that are important in accounting for aggregate fluctuations in Spain. The model is estimated with Bayesian techniques and data from the last two decades. Beyond describing the properties of the model, we perform different exercises to illustrate the potential of MEDEA, including historical decompositions, long-run and short-run simulations, and counterfactual experiments. |
| 主题 | International Macroeconomics |
| 关键词 | Bayesian methods Dsge models Likelihood estimation |
| URL | https://cepr.org/publications/dp7319 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536150 |
| 推荐引用方式 GB/T 7714 | Saul Lach,José-Luis Moraga-González. DP7319 Heterogeneous Price Information and the Effect of Competition. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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