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  • The goal of this paper is to evaluate some characteristics commonly used in New Keynesian DSGE models, such as habit formation in consumption, full price indexation and partial price indexation. This paper estimates six DSGE models in order to determine, which model provides better data fit. The models were estimated on data of US economy. All models were estimated using Bayesian techniques, particularly Metropolis-Hastings algorithm (using Dynare toolbox for Matlab). The data fit measure is posterior odds calculated from marginal likelihood, acquired from Bayesian estimation. Results suggest that including habit formation improves significantly the data fit of the models, whereas including price indexation does not.
  • The goal of this paper is to evaluate some characteristics commonly used in New Keynesian DSGE models, such as habit formation in consumption, full price indexation and partial price indexation. This paper estimates six DSGE models in order to determine, which model provides better data fit. The models were estimated on data of US economy. All models were estimated using Bayesian techniques, particularly Metropolis-Hastings algorithm (using Dynare toolbox for Matlab). The data fit measure is posterior odds calculated from marginal likelihood, acquired from Bayesian estimation. Results suggest that including habit formation improves significantly the data fit of the models, whereas including price indexation does not. (en)
Title
  • Habit Formation and Price Indexation in DSGE Models with Nominal Rigidities
  • Habit Formation and Price Indexation in DSGE Models with Nominal Rigidities (en)
skos:prefLabel
  • Habit Formation and Price Indexation in DSGE Models with Nominal Rigidities
  • Habit Formation and Price Indexation in DSGE Models with Nominal Rigidities (en)
skos:notation
  • RIV/00216224:14560/09:00036678!RIV10-MSM-14560___
http://linked.open...avai/riv/aktivita
http://linked.open...avai/riv/aktivity
  • P(1M0524), S
http://linked.open...vai/riv/dodaniDat
http://linked.open...aciTvurceVysledku
http://linked.open.../riv/druhVysledku
http://linked.open...iv/duvernostUdaju
http://linked.open...titaPredkladatele
http://linked.open...dnocenehoVysledku
  • 316794
http://linked.open...ai/riv/idVysledku
  • RIV/00216224:14560/09:00036678
http://linked.open...riv/jazykVysledku
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  • New Keynesian; DSGE; habit formation; price indexation; posterior odds; Bayesian estimation (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...ontrolniKodProRIV
  • [067E2D79CBB6]
http://linked.open...v/mistoKonaniAkce
  • Kostelec nad Černými Lesy
http://linked.open...i/riv/mistoVydani
  • Praha
http://linked.open...i/riv/nazevZdroje
  • Mathematical Methods in Economics 2009
http://linked.open...in/vavai/riv/obor
http://linked.open...ichTvurcuVysledku
http://linked.open...cetTvurcuVysledku
http://linked.open...vavai/riv/projekt
http://linked.open...UplatneniVysledku
http://linked.open...iv/tvurceVysledku
  • Vašíček, Osvald
  • Slanicay, Martin
http://linked.open...vavai/riv/typAkce
http://linked.open...ain/vavai/riv/wos
  • 000260962300023
http://linked.open.../riv/zahajeniAkce
number of pages
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  • Česká zemědělská univerzita v Praze
https://schema.org/isbn
  • 978-80-213-1963-9
http://localhost/t...ganizacniJednotka
  • 14560
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