Publication details
Vývoj DSGE modelů
| Title in English | Evolution of DSGE Models |
|---|---|
| Authors | |
| Year of publication | 2009 |
| Type | Article in Proceedings |
| Conference | MEKON 2009 |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | DSGE model; RBC; nominal rigidities; monopolistic competition |
| Description | The goal of this paper is to show the evolution of DSGE models and motivation, which stands behind this evolution. The earliest DSGE models were RBC models. This paper shows their pitfalls and show that these pitfalls led to the evolution of New Keynesian models. These models enriched previous concept by including some keynesian assumptions, especially monopolistic competition and nominal rigidities. This paper summarizes theoretical foundation of these assumptions, as well as empirical studies, which analyse nominal rigidities. |
| Related projects: |