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- Kiel Institute for the World Economy IfW

Dates:February 09-20, 2009
Description:Selected course of the Kiel Institute Advanced Studies Program "Empirical Methods in Macroeconomics" (Advanced)
Location:Kiel, IfW, Germany
Subject:David DeJong (University of Pittsburgh) The focus of the course is on the empirical implementation of dynamic stochastic general equilibrium (DSGE) models. The course is organized around the following empirical exercise. Beginning with a model environment, a non-linear expectational system of difference equations is derived using BellmanňŇs Principle of Optimality. The system is then approximated (using linear and non-linear representations), taking the form of a state-space representation. Appropriate data are then identified and aligned with their theoretical counterparts (often by removing trends and isolating cycles). Finally, the likelihood function associated with the state-space representation is evaluated using a filtering procedure. [gem╠_╠┘ den Informationen des Anbieters - according to site editor's information]
JEL Code:E
URL:http://www.ifw-kiel.de/ausbildung/asp/outlines/paper/DeJong.pdf

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