Estimation and evaluation of DSGE models: progress and challenges

Frank Schorfheide

No 11-7, Working Papers from Federal Reserve Bank of Philadelphia

Abstract: Estimated dynamic stochastic equilibrium (DSGE) models are now widely used for empirical research in macroeconomics as well as for quantitative policy analysis and forecasting at central banks around the world. This paper reviews recent advances in the estimation and evaluation of DSGE models, discusses current challenges, and provides avenues for future research.

Keywords: Econometric models; Stochastic analysis (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-cba, nep-cis, nep-dge, nep-ecm, nep-ets and nep-for
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Related works:
Working Paper: Estimation and Evaluation of DSGE Models: Progress and Challenges (2011)
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