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Title: Aggregation problem in DSGE model
Authors: 陳樹衡
Yang, Lian-Sheng
Chen, Shu-Heng
Chang, Chia-Ling
Tseng, Yi-Heng
Contributors: 經濟系
Keywords: Computer programming;Computer science;DSGE models;Estimation bias;Interactive agents;Network structures;Ising model
Date: 2015-12
Issue Date: 2017-08-10 09:11:24 (UTC+8)
Abstract: The aim of this paper is investigating the estimation bias of the standard New Keynesian DSGE econometric procedure in an environment comprising heterogeneous and interactive agents. In this case, the standard New Keynesian DSGE econometric procedures may generate spurious evidence in aggregate equations. On simulating the Ising model and processing the standard New Keynesian DSGE econometric procedure with Dynare, dramatic estimation bias is found. Particularly, the IS puzzle is found in the Ising model with different network structures. © 2015 IEEE.
Relation: 2015 International Conference on Behavioral, Economic and Socio-Cultural Computing, BESC 2015, 123-129
Data Type: conference
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