Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 26 for “"Dynamic Stochastic General Equilibrium (DSGE)"”.
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Real investment and dividend policy in a dynamic stochastic general equilibrium (DSGE) model. Corporate finance at an aggregate level through DSGE models.
In this thesis, I take a theoretical dynamic stochastic general equilibrium (DSGE) approach to investigate optimal aggregate dividend policy. I make the following contribution: 1. I extend the standard DSGE model to incorporate a residual dividend policy, external financing and default and find …
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Real investment and dividend policy in a dynamic stochastic general equilibrium (DSGE) model. Corporate finance at an aggregate level through DSGE models.
In this thesis, I take a theoretical dynamic stochastic general equilibrium (DSGE) approach to investigate optimal aggregate dividend policy. I make the following contribution: 1. I extend the standard DSGE model to incorporate a residual dividend policy, external financing and default and find …
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Essays on monetary policy
… of monetary policy shocks on the economy using a Dynamic Stochastic General Equilibrium (DSGE) model with financial frictions.
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Can Animal Spirits Solve The Forward Premium Puzzle?
… to the anomaly.</p> <p> In Chapter 2, a dynamic stochastic general equilibrium (DSGE) two-country two-money model is fitted with Robust Control, inducing fear of model misspecification, or pessimism, in international households. The forward premium bias, produced from a collapse in …
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Private and government banks : a DSGE approach
This paper studies the role of public banks in a Dynamic Stochastic General Equilibrium (DSGE) model with heterogeneous financial intermediaries. In accordance with the empirical literature on the subject, this study shows that the presence of public banks alter the reaction of the aggregate …
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Essays on monetary policy, institutions and terms of trade shocks in emerging market economies
… shocks and how they shape the macroeconomic dynamics and the conduct of monetary policy. These issues are discussed in three essays. The first essay empirically evaluates the role of institutional structures in inflation targeting in emerging market economies (EMEs). The second essay …
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FORECASTING IN EASTERN EUROPEAN COUNTRIES
… to produce an empirical estimation of a dynamic stochastic general equilibrium (DSGE) model for a small open economy. After discussing a survey of the literature on macroeconomics forecasting, which includes a discussion on the developments of methodology and accuracy measures, I first …
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Current account dynamics and macroeconomic policy
… and consumption. The study calibrates a Dynamic Stochastic General Equilibrium(DSGE) model that analyses the role of non-traded goods in the determination of the current account and exchange rate. These three studies help to develop an understanding of the current account in South Africa.
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A Re-Examination Of Money And Business Cycles
<p>In the last several years, dynamic stochastic general equilibrium (DSGE) models have become the predominant tool of modern macroeconomics and, in particular, monetary policy research. Generally speaking, the basic New Keynesian model is the standard framework for analysis. This framework uses …
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Empirical Evaluation of DSGE Models for Emerging Countries
… aimed to evaluate the empirical performance of dynamic stochastic general equilibrium (DSGE) models in explaining the behavior of macroeconomic dynamics in emerging countries. </p><p>Chapter 1, which is joint work with M. Uribe and R. Pancrazzi, investigates the hypothesis that a real business …
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Essays on Macroeconomic Implications of International Capital Flow and Fiscal Uncertainty
… affect the U.S economy. In the context of a dynamic stochastic general equilibrium(DSGE) model with imperfect asset substitution between short and long-term government bonds, I find that shocks to long-term U.S debt held by foreign official institutions have expansionary effects on the …
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Money, transactions and the business cycle: inspecting the mechanism
… and the real-resource-cost (RRC) model - using a Dynamic Stochastic General Equilibrium (DSGE) framework, with perfectly competitive markets and flexible prices. The CIA model is built on the quantitative assessment developed by Cooley and Hansen (1989, 1995), while the RRC model is an …
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Monetary Policy in a Low Exchange Rate Pass-Through Environment: The case of Botswana
… constructs a small open economy New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model, to examine monetary policy conduct and the extent of exchange rate pass-through in Botswana. Thus, I apply a three-step procedure. In the first step, I estimate the degree of exchange rate …
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Essays on Housing Markets and Monetary Policy
… studies the optimal interest rate rule in a DSGE model with housing market spillovers and finds that the optimal interest rate rule responds to house price inflation even when the stabilization of house price is not among the objectives of the policymaker. The third essay is the core of this …
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Monetary policy in low income countries: the case of Uganda
… financial frictions in Uganda. It makes use of a dynamic stochastic general equilibrium (DSGE) model that incorporates several small open-economy features. The model parameters are estimated with the aid of Bayesian techniques using quarterly macroeconomic data. The results suggest that the …
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Three essays on monetary policy analysis in Mongolia
… rate immediately overshoots its long-run equilibrium rate, a finding consistent with Dornbusch's (1976) famous exchange rate overshooting hypothesis. Fourth, the historical decomposition analysis suggests that besides monetary policy shocks, output fluctuations are largely driven by …
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Three essays on monetary policy analysis in Mongolia
… rate immediately overshoots its long-run equilibrium rate, a finding consistent with Dornbusch's (1976) famous exchange rate overshooting hypothesis. Fourth, the historical decomposition analysis suggests that besides monetary policy shocks, output fluctuations are largely driven by …
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Essays on financial frictions with an application to the Chinese economy
… Chapter 2 proceeds to develop a New Keynesian dynamic stochastic general equilibrium (DSGE) model and investigates the effect of government guarantees on capital misallocation and business cycle fluctuations in China. On one hand, government guarantees mitigate the influence of the financial …
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Essays on Exchange Rates and Emerging Markets
… To further validate these results, I develop a dynamic stochastic general equilibrium (DSGE) model for a small open economy. The model incorporates several open economy frictions: i) bond-holding adjustment costs, ii) investment adjustment costs, iii) a working capital constraint, and iv) a …
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Three Essays in Macroeconomics
… how central banks should communicate with the general public about their policies and the state of the economy. Chapter 2 evaluates alternative empirical estimates of the effects of tax changes through the lens of a dynamic-stochastic general equilibrium (DSGE) model. Chapter 3 examines the …
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