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BoGGEM: a dynamic stochastic general equilibrium model for policy simulations

Listed author(s):
  • Dimitris Papageorgiou

    ()

    (Bank of Greece)

This paper presents the theoretical foundations and dynamic properties of a dynamic stochastic general equilibrium (DSGE) model designed for quantitative policy analysis and counterfactual exercises. The approach of the paper can be summarized as follows. First, we present the model’s theoretical framework and building blocks. Then, we calibrate the model to the Greek economy and examine the dynamic properties of the model by inspecting the sample moments produced by the model, reporting impulse response functions to a number of shocks, and by performing variance decomposition analysis. The results indicate that the model performs quite well in these contexts

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Paper provided by Bank of Greece in its series Working Papers with number 182.

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Length: 108
Date of creation: May 2014
Handle: RePEc:bog:wpaper:182
Contact details of provider: Web page: http://www.bankofgreece.gr

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