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SOEPL 2009 – An Estimated Dynamic Stochastic General Equilibrium Model for Policy Analysis And Forecasting

Grzegorz Grabek, Bohdan Kłos and Grzegorz Koloch
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Grzegorz Grabek: National Bank of Poland, Economic Institute, http://www.nbp.pl

No 83, NBP Working Papers from Narodowy Bank Polski, Economic Research Department

Abstract: The paper documents elements of work on the dynamic stochastic general equilibrium (DSGE) SOEPL model that has been carried out in recent years at the National Bank of Poland. In 2009 a new version of the model was developed (called SOEPL−2009) which in 2010 is to support an econometric model and experts’ forecasts in mid-term forecasting of inflation and economic activity. The paper consists of three basic parts. The first part is introductory and briefly outlines the development of macroeconometric methods which brought about the creation of new-keynesian models specified within the dynamic stochastic general equilibrium approach. The remaining two parts of the paper report specification, estimation results and some properties of the SOEPL−2009 DSGE model.

New Economics Papers: this item is included in nep-cba, nep-dge, nep-eec, nep-for and nep-mac
Date: 2011
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