Estimating a Dynamic Stochastic General Equilibrium Model for China:a Bayesian Approach

摘要：

This paper employs a dynamic stochastic general equilibrium (DSGE)model for China with two shocks: technology shock and monetary injection growth shock. The parameters of the model are estimated using the Bayesian procedure that accommodates prior uncertainty about their magnitudes; from these estimates, posterior distributions of the two shocks are obtained. With the reasonable number of Metropolis-Hastings simulations, the Monte Carlo Markov Chains algorithm converges and all measures of the parameter moments are relatively stable.

关键词： DSGE model Bayesian econometrics prior distribution posterior distribution

作者: Neng Jin Yafen Ye

作者单位: Mechanical and Electrical Engineering College Taizhou University Taizhou, China Statistics and Mathematics Department Zhejiang Gongshang University Hangzhou, China

会议类型: 国际会议

会议名称: The 10th International Conference on Intelligent Technologies(第十届智慧科技国际会议 InTech09)

会议地点: 桂林

会议语种:英文

页码: 367-371

在线出版日期: 2009-12-12（万方平台首次上网日期，不代表论文的发表时间）