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Construction and Application Peculiarities of Dynamic Stochastic General Equilibrium Model of the Ukrainian Economy

Journal: Economic Cybernetics. International scientific journal (Vol.64, No. 2)

Publication Date:

Authors : ;

Page : 48-59

Keywords : Dynamic Stochastic General Equilibrium Model; models for empirical analysis; Ukrainian Economy; IRF; VAR models;

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In the article the efficiency of modeling the economic system of Ukraine based on the new Keynesian dynamic stochastic general equilibrium (DSGE) model is assessing. All main tricky steps of the model construction are analyzed in details; the comparison of impulse response function (IRF) based on the dynamic stochastic general equilibrium model with the IRF received from the atheoretical vector autoregressive (VAR) model is conducted. The results show the potential for using dynamic stochastic general equilibrium models for empirical analysis and they form the alternative to the VAR models.

Last modified: 2014-02-23 19:26:20