Are DSGE models irreparably flawed?

Michal Brzoza-Brzezina and Jacek Suda

Bank i Kredyt, 2021, vol. 52, issue 3, 227-252

Abstract: In this paper we respond to the recent critique of Dynamic Stochastic General Equilibrium (DSGE) models. We present the most recent developments in the DSGE literature and show that it has gone a long way to accommodate many sources of criticism.

Keywords: DSGE models; microfoundations; heterogeneity; bounded rationality; financial frictions (search for similar items in EconPapers)
JEL-codes: D5 D8 E1 E3 E4 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:nbp:nbpbik:v:52:y:2021:i:3:p:227-252

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