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A small-scale DSGE-VAR model for the Romanian economy

Raluca-Elena Pop

Economic Modelling, 2017, vol. 67, issue C, 1-9

Abstract: This paper describes the theoretical structure and the estimation results for a DSGE-VAR model for the Romanian economy, an inflation targeting country since 2005. Having as benchmark the New-Keynesian model of Rabanal and Rubio-Ramirez (2005), the main additional feature introduced refers to the extension to a small open economy setting in order to account for this specific aspect of the Romanian economy.

Keywords: DSGE-VAR; Minnesota-VAR; Unrestricted VAR; Forecast (search for similar items in EconPapers)
JEL-codes: C32 C51 C53 F41 (search for similar items in EconPapers)
Date: 2017
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