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Comparing Hybrid DSGE Models

Listed author(s):
  • Alessia Paccagnini

    ()

This paper discusses the estimation of Dynamic Stochastic General Equilibrium (DSGE) models using hybrid models. These econometric tools provide the combination of an atheoretical statistical representation and the theoretical features of the DSGE model. A review of hybrid models presents the main aspects of these tools and why they are needed in the recent macroeconometric literature. Some of these models are compared to classical econometrics models (such as Vector Autoregressive, Factor Augmented VAR and Bayesian VAR) in a marginal data density analysis.

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File URL: http://dems.unimib.it/repec/pdf/mibwpaper228.pdf
File Function: First version, 2012
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Paper provided by University of Milano-Bicocca, Department of Economics in its series Working Papers with number 228.

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Length: 35
Date of creation: Dec 2012
Date of revision: Dec 2012
Handle: RePEc:mib:wpaper:228
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