Ratto M.; Roeger W.; in’t Veld J.; Girardi R. - EconWPA - 2005
In recent years a new consensus has emerged in macroeconomics in general and in model building in particular, the so called New Keynesian Paradigm (NKM). This paper applies Bayesian estimation techniques to a time series data set of the euro area and presents estimates of a DSGE model. The...