Bayesian Estimation of a Small Open Economy DSGE Model for Azerbaijan : DSGE Model for Azerbaijan

Language: English

Published by LAP LAMBERT Academic Publishing, 2012

3846587443 / 9783846587447

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nach der Bestellung gedruckt Neuware - Printed after ordering - This paper develops and estimates a Dynamic Stochastic General Equilibrium (DSGE) model for the Azerbaijan economy. The model incorporates with open economy features such as habit formation and cost of adjustment in capital accumlation. The model has five types of economic agents: households, firms, aggregators, the rest of the world and the government. It includes a number of shocks and frictions. The model is estimated with Bayesian techniques using thirteen macro economic variables: GDP inflation, private consumption good inflation, investment good inflation, real wages, real private consumption, real investment, real GDP, employment, real exports, real imports, nominal interest rate, foreign real GDP and foreign nominal interest rate. The main aim of the paper is to estimate various specifications of a small open economy model in order to determine the model which provides a better fit of Azerbaijan economy.

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Title
Bayesian Estimation of a Small Open Economy DSGE Model for Azerbaijan : DSGE Model for Azerbaijan
Author
Ali Ahmadov
Publisher
LAP LAMBERT Academic Publishing
Publication year
2012
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 10
3846587443
ISBN 13
9783846587447
Item weight
113 grams
Dimensions
220x150x4 mm

AHA-BUCH GmbH

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