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Mind the gap! Stylized dynamic facts and structural models

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  • Fabio Canova

    ()

  • Filippo Ferroni

    ()

Abstract

We study what happens to identi?ed shocks and to dynamic responses when the structural model features q disturbances and m endogenous variables, q = m, but only m1

Suggested Citation

  • Fabio Canova & Filippo Ferroni, 2018. "Mind the gap! Stylized dynamic facts and structural models," Working Papers No 13/2018, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
  • Handle: RePEc:bny:wpaper:0071
    as

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    References listed on IDEAS

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    1. Pau Rabanal, 2018. "An Estimated DSGE Model to Analyze Housing Market Policies in Hong Kong SAR," IMF Working Papers 18/90, International Monetary Fund.
    2. repec:oup:oxford:v:34:y:2018:i:1-2:p:269-286. is not listed on IDEAS
    3. Susanto Basu & Brent Bundick, 2017. "Uncertainty Shocks in a Model of Effective Demand," Econometrica, Econometric Society, vol. 85, pages 937-958, May.
    4. Canova, Fabio & Paustian, Matthias, 2011. "Business cycle measurement with some theory," Journal of Monetary Economics, Elsevier, vol. 58(4), pages 345-361.
    5. Peter N. Ireland, 2004. "Technology Shocks in the New Keynesian Model," The Review of Economics and Statistics, MIT Press, vol. 86(4), pages 923-936, November.
    6. V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2004. "A Critique of Structural VARs Using Real Business Cycle Theory," Levine's Bibliography 122247000000000518, UCLA Department of Economics.
    7. Mikkel Plagborg‐Møller, 2019. "Bayesian inference on structural impulse response functions," Quantitative Economics, Econometric Society, vol. 10(1), pages 145-184, January.
    8. Raffaella Giacomini, 2013. "The relationship between DSGE and VAR models," CeMMAP working papers CWP21/13, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
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