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Bayesian estimation of small-scale DSGE model of the Ukrainian economy

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Abstract

In this article we try to introduce Bayesian methodology for the estimation of dynamic stochastic general equilibrium model of the Ukrainian economy. The resulting impulse response functions can be used for increasing the efficiency of monetary and fiscal policy interventions. In addition, we showed that technology is one of the most important factors contributing to the stable long-term growth path of the economic system of Ukraine.

Suggested Citation

  • Semko, Roman, 2011. "Bayesian estimation of small-scale DSGE model of the Ukrainian economy," MPRA Paper 35215, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:35215
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    File URL: https://mpra.ub.uni-muenchen.de/35215/1/MPRA_paper_35215.pdf
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    References listed on IDEAS

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    Cited by:

    1. Bazhenova Olena & Bazhenova Yuliya, 2016. "Modelling the Impact of External Shocks on Economy of Ukraine: Dsge Approach," Ekonomika (Economics), Sciendo, vol. 95(1), pages 64-83, January.
    2. Irina Khvostova & Alexander Larin & Anna Novak, 2016. "Euler Equation with Habits and Measurement Errors: Estimates on Russian Micro Data," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 63(4), pages 395-409.

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    More about this item

    Keywords

    DSGE model; Bayesian estimation; monetary and fiscal policy;
    All these keywords.

    JEL classification:

    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General

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