Series: IMF Working Papers
Author(s): Roland Straub , and Gert Peersman
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 2006
Keywords: DSGE models, sign restrictions, government spending, real wages, private consumption, aggregate demand, Multiple or Simultaneous Equation Models: Time-Series Models, Model Construction and Estimation,
In recent years, New Keynesian dynamic stochastic general equilibrium (NK DSGE) models have become increasingly popular in the academic literature and in policy analysis. However, the success of these models in rep...