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Variantes en univers incertain

Stéphane Adjemian (), Christophe Cahn (), Antoine Devulder and Nicolas Maggiar

Economie & Prévision, 2008, vol. n° 183-184, issue 2, 223-238

Abstract: The authors illustrate the usefulness of the Bayesian approach in economic-policy assessment, which typically relies on simulations. We describe a dynamic stochastic general equilibrium (DGSE) model for the euro zone. The Bayesian estimation of the modelmeasures parameter-related uncertainty,which translates into simulation-related uncertainty.We offer a practical application by simulating the impact of a tax policy: an announced VAT shock.

Keywords: DSGE; euro zone; nominal rigidities; Bayesian estimation (search for similar items in EconPapers)
Date: 2008
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