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Impulse-Response Analysis in a Simple DSGE Framework

Author

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  • Leonte Alexandru

    () (The Academy of Economic Studies, Bucharest)

Abstract

This paper intends to perform a simple impulse-response analysis on the Romanian economy with the help of a DSGE model. The DSGE methodology has its origins in the Real Business Cycle Theory, and recently it became quite popular, especially after the seminal contribution of Smets and Wouters ([8]). I use a model with a single stochastic variable, namely technological progress, and focus on the response of the main macroeconomic variables to a technology shock. This endeavor is a first step in developing a DSGE model that can be used for policy purposes.

Suggested Citation

  • Leonte Alexandru, 2010. "Impulse-Response Analysis in a Simple DSGE Framework," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 706-709, May.
  • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:706-709
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    Keywords

    DSGE; impulse-response analysis; real business cycle.;

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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