An Estimated Dynamic Stochastic General Equilibrium Model for Armenian Economy

Barseghyan Gayane ()

EERC Working Paper Series from EERC Research Network, Russia and CIS

Abstract: The paper develops and estimates a microfounded small open economy new Keynesian dynamic stochastic general equilibrium (DSGE) model for Armenian economy. To capture empirical persistence in Armenian macroeconomic data the model features number of frictions. Estimation of structural parameters of the DSGE model is performed on Armenian quarterly data from 2000 to 2012, using Bayesian full-system estimation techniques. The estimation shows that the model is able to replicate Armenian quarterly data. Moreover, the paper finds that the estimated model provides competing out-of-sample forecast compared with VAR and random walk models.

JEL-codes: E12 E27 E43 E52 (search for similar items in EconPapers)
Date: 2013-10-10
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://eercnetwork.com/default/download/creater/wo ... 4e5e120e913a9300.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eer:wpalle:13/11e

Ordering information: This working paper can be ordered from
EERC Research Network, Russia and CIS, 92/94, Dmytrivska Str., suite 404, Kyiv, 01135 Ukraine
https://eercnetwork.com/paper

Access Statistics for this paper

More papers in EERC Working Paper Series from EERC Research Network, Russia and CIS EERC Research Network, Russia and CIS, 92/94, Dmytrivska Str., suite 404, Kyiv, 01135 Ukraine.
Bibliographic data for series maintained by Anton Pashchenko ().