RBCs and DSGEs: The Computational Approach to Business Cycle Theory and Evidence

Ozer Karagedikli, Troy Matheson (), Christie Smith () and Shaun Vahey

No 2008/17, Working Paper from Norges Bank

Abstract: Real Business Cycle (RBC) and Dynamic Stochastic General Equilibrium (DSGE) methods have become essential components of the macroeconomist’s toolkit. This literature review stresses recently developed techniques for computation and inference, providing a supplement to the Romer (2006) textbook, which stresses theoretical issues. Many computational aspects are illustrated with reference to the simple divisible labour RBC model. Code and US data to replicate the computations are provided on the Internet, together with a number of appendices providing background details.

Keywords: RBC; DSGE; Computation; Bayesian Analysis; Simulation (search for similar items in EconPapers)
JEL-codes: C11 C50 E30 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2008-10-24
New Economics Papers: this item is included in nep-cba, nep-cmp, nep-dge, nep-ecm and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://www.norges-bank.no/en/news-events/news-pub ... pers/2008/WP-200817/

Related works:
Journal Article: RBCs AND DSGEs: THE COMPUTATIONAL APPROACH TO BUSINESS CYCLE THEORY AND EVIDENCE (2010)
Working Paper: RBCs and DSGEs:The Computational Approach to Business Cycle Theory and Evidence (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:bno:worpap:2008_17

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