BoGGEM: a dynamic stochastic general equilibrium model for policy simulations
Dimitris Papageorgiou ()
No 182, Working Papers from Bank of Greece
This paper presents the theoretical foundations and dynamic properties of a dynamic stochastic general equilibrium (DSGE) model designed for quantitative policy analysis and counterfactual exercises. The approach of the paper can be summarized as follows. First, we present the model’s theoretical framework and building blocks. Then, we calibrate the model to the Greek economy and examine the dynamic properties of the model by inspecting the sample moments produced by the model, reporting impulse response functions to a number of shocks, and by performing variance decomposition analysis. The results indicate that the model performs quite well in these contexts
Keywords: Dynamic stochastic general equilibrium model; Small open economy; Greece (search for similar items in EconPapers)
JEL-codes: E27 E30 E52 E60 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge, nep-mac and nep-ore
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Persistent link: https://EconPapers.repec.org/RePEc:bog:wpaper:182
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