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《Journal of Financial Research》 2008-10
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Development and Application of the DSGE Model for Monetary Policy Analysis in China

Liu Bin  
DSGE model is one of the important aspects of central bank's recent research on macroeconomic and monetary policy analysis,and it provides central banks a new perspective in economic modeling.Many central banks are attracted by the unique characteristics of the model,such as explicit modeling framework,theoretical consistence,perfect combination of micro and macro economic analysis,and the integration of short and long- run analysis.In this paper,the author builds up an open-economy DSGE model with financial-accelerator for monetary policy analysis and applies the Bayesian technique to estimate the model based on the actual data of China.The complexity of model design and the large scale of parameters by Bayesian estimation have never been seen in China.
【CateGory Index】: F822.0;F224
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