Variantes en Univers Incertain

Stéphane Adjemian, Christophe Cahn, Antoine Devulder and N. Maggiar

Working papers from Banque de France

Abstract: In this paper, we try to illustrate the interest of the Bayesian approach for the evaluation of economic policies, often realised by analysing the response of the economy to a standard shock. We present a Stochastic Dynamic General Equilibrium model for the euro area. The Bayesian estimation gives a measure of the uncertainty on the parameters, from which we can derive the uncertainty of the responses to standard shocks. As an illustration, we simulate the effects of a fiscal shock (announced VAT increase).

Keywords: DSGE; Euro zone; Nominal rigidities; Bayesian estimation. (search for similar items in EconPapers)
JEL-codes: E4 E5 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2009
New Economics Papers: this item is included in nep-cba, nep-dge and nep-mac
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Citations: View citations in EconPapers (5)

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Journal Article: Variantes en univers incertain (2008)
Journal Article: Variantes en univers incertain (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:banfra:236

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