Dynamiczne stochastyczne modele równowagi ogolnej: Zarys metodologii badań empirycznych

Abstract

The paper presents general idea of construction and estimation of Dynamic Stochastic General Equilibrium Models. Models belonging to the class of DSGE combine in one specification the optimization behavior of consumers and producers with mechanisms that allow to model the nominal and real rigidities observed at the macroeconomic level. DSGE models are widely applied by financial institutions as a consequence of their ability to flexibly include and test alternative economic hypotheses and the existence of estimation methods. The article begins by reviewing main components of the theoretical model with discussion of the most important assumptions, which is followed by presentation of methods for solving rational expectation models and the Bayesian estimation of structural parameters.