Exogenous fluctuations: DSGE models

Giulio Nicoletti and Luca Pensieroso
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Giulio Nicoletti: European Central Bank

No 2026001, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: This article surveys Dynamic Stochastic General Equilibrium models, from the Real Business Cycle to the New Keynesian variant. We spell out both the analytics and the empirics of the models, as well as their historical origins.

Keywords: Real Business Cycle; New Keynesian Macroeconomics; New Neoclassical Synthesis (search for similar items in EconPapers)
JEL-codes: E1 E3 E4 (search for similar items in EconPapers)
Date: 2026-01-07
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2026001

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