An estimated DSGE model for the United Kingdom

Riccardo DiCecio and Edward Nelson

Review, 2007, vol. 89, issue Jul, 215-232

Abstract: The authors estimate the dynamic stochastic general equilibrium model of Christiano, Eichenbaum, and Evans (2005) on U.K. data. Their estimates suggest that price stickiness is a more important source of nominal rigidity in the United Kingdom than wage stickiness. Their estimates of parameters governing investment behavior are only well behaved when post-1979 observations are included, which reflects government policies until the late 1970s that obstructed the influence of market forces on investment.

Keywords: Economic policy - Great Britain; Equilibrium (Economics) - Mathematical models (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (24)

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Working Paper: An estimated DSGE model for the United Kingdom (2007)
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