VAR meets DSGE is popular PDF and ePub book, written by Bin Grace Li in 2016-04-12, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, VAR meets DSGE can be Read Online from any device for your convenience.
VAR meets DSGE Book PDF Summary
VAR methods suggest that the monetary transmission mechanism may be weak and unreliable in low-income countries (LICs). But are structural VARs identified via short-run restrictions capable of detecting a transmission mechanism when one exists, under research conditions typical of these countries? Using small DSGEs as data-generating processes, we assess the impact on VAR-based inference of short data samples, measurement error, high-frequency supply shocks, and other features of the LIC environment. The impact of these features on finite-sample bias appears to be relatively modest when identification is valid—a strong caveat, especially in LICs. However, many of these features undermine the precision of estimated impulse responses to monetary policy shocks, and cumulatively they suggest that “insignificant” results can be expected even when the underlying transmission mechanism is strong.
Detail Book of VAR meets DSGE PDF
- Author : Bin Grace Li
- Release : 12 April 2016
- Publisher : International Monetary Fund
- ISBN : 9781484332467
- Genre : Business & Economics
- Total Page : 45 pages
- Language : English
- PDF File Size : 12,7 Mb
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