Los modelos dsge: una respuesta de la discusión macroeconómica

Alvaro Hurtado Rendón (), Humberto Franco González () and Jesús Alonso Botero Garcia ()

Estudios Economicos, 2011, vol. 028 (Nueva Serie), issue 57, 59-77

Abstract: Models of Dynamic Stochastic General Equilibrium (DSGE) are based on the theory of general equilibrium that influences contemporary macroeconomics. This instrument explains the aggregate economic phenomena derived from microeconomic principles, and, as a special characteristic, the DSGE models are not vulnerable to the Lucas critique. Also, those consider that the economy is affected by random shocks. In this sense, empirical analysis seeks for the sources of economic fluctuations. This paper presents an overview of the theoretical literature on economic fluctuations in order to reflect on the development of modern macroeconomics, the reflection culminating with an overview of the DSGE

Keywords: crecimiento económico; ciclo económico; equilibrio general dinámico estocástico; economic growth; business cycle; dynamic stochastic general equilibrium (search for similar items in EconPapers)
JEL-codes: D58 E32 E39 (search for similar items in EconPapers)
Date: 2011
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Working Paper: Los modelos DSGE: una respuesta de la discusión macroeconómica (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:uns:esteco:v:28:y:2011:i:57:p:59-77

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