Read more
Zusatztext "The book is well written and clearly arranged. It can be recommended to economists and researchers who are interested in applying state-of-the-art computational methods to estimate DSGE models as well as to econometricians who want to learn about the application of DSGE models in empirical macroeconomics." ---Peter Hackl! Statistical Papers Informationen zum Autor Edward P. Herbst & Frank Schorfheide Klappentext "This book depicts valuable and revealing methods for solving, estimating, and analyzing a class of dynamic equilibrium models of the macroeconomy. It describes formally tractable techniques for the study of macroeconomic models that feature transition mechanisms for a large number of underlying shocks. Both authors have played important roles in developing and applying these techniques. This is a terrific resource for how to use these methods in practice." --Lars Peter Hansen, David Rockefeller Distinguished Service Professor of Economics, University of Chicago, and recipient of the Nobel Prize in economics "This timely book collects in one place many of the key Markov chain Monte Carlo methods for numerical Bayesian inference along with many of their recent refinements. Written for applied users, it offers clear descriptions of each algorithm and illustrates how it can be used to estimate dynamic stochastic general equilibrium models in macroeconomics." --James D. Hamilton, Professor of Economics, University of California, San Diego "This is perhaps the most thorough book available on how to estimate DSGE models using sophisticated Bayesian computation tools. It is an excellent resource for professionals and advanced students of the topic." --Serena Ng, Professor of Economics, Columbia University Zusammenfassung Dynamic stochastic general equilibrium (DSGE) models have become one of the workhorses of modern macroeconomics and are extensively used for academic research as well as forecasting and policy analysis at central banks. This book introduces readers to state-of-the-art computational techniques used in the Bayesian analysis of DSGE models. The book c...
About the author
Edward P. Herbst & Frank Schorfheide
