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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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【Citations】
Chinese Journal Full-text Database 1 Hits
1 Liu Bin Zhang Huaiqing;Estimation of the Output Gap in China[J];Journal of Finance;2001-10
【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 PENG Yong, YANG Can;The Estimate of Chinese Phillips Curve[J];Commercial Research;2004-19
2 YUAN Xiao-ling,ZHANG Bao-shan,YANG Wan-ping(School of Economy and Finance Institute,Xi′an Jiaotong University,Xi′an 710061,China);Potential Output Growth Rate and the Coordinated Regional Economic Development in China[J];Commercial Research;2009-01
3 YU Yuan-quan(Chongqing Jiaotong University,Chongqing 400074,China);Empirical Research on the Impacts of Asset Prices on China's Inflation[J];Journal of Chongqing University(Social Science Edition);2008-04
4 GE Liang(Economic College, Xiamen University, Xiamen 361000, China);Comment on and Analysis of the Calculating Method of the Potential Output[J];Journal of Fujian Institute of Education;2005-10
5 Zeng Hui and Yin Xiaobing(Graduate School of PBC, Beijing, 100083 China);Comparative Research on Estimates of China's Potential GDP:Based on Annual and Quarterly Data from 1952 to 2008[J];South China Finance;2009-06
6 KONG Zhe-li,LI Hui (School of Economics and Trade,Shihezi University,Shihezi,832000,China);The Estimation of Potential Output and Output Gap——The empirical research based on data of Xinjiang from 1978 to 2007[J];Journal of Guangxi University of Finance and Economics;2008-04
7 Xie Ping & Luo Xiong (Research Bureau,The People's Bank of China;Department of Postgraduates,The People's Bank of China);Taylor Rule and Its Empirical Test in China's Monetary Policy[J];Economic Research Journal;2002-03
8 Chen Yanbin(School of Economics,Renmin University of China);Research on New Keynesian Phillips Curve in China[J];Economic Research Journal;2008-12
9 Liu Bin;Empirical Research on the Relationship among Output, Price and MonetaryAggregates[J];Journal of Finance;2002-07
10 Bian Zhicun;A Review of Empirical Issues of Taylor Rule and Its Applicability in China[J];Journal of Financial Research;2006-08
【Co-references】
Chinese Journal Full-text Database 4 Hits
1 Xu Zhenming & Hong Rongyan(Department of Economics,National Taiwai University);Dynamic Analysis of the Exchange Rate Under the New Keynesian DSGE Model and the Monetary Policy Rules[J];The Journal of Guangdong University of Finance;2008-03
2 Du Yi,Sun Ninghua(Economics School,Nanjing University,Nanjing,Jiangsu,210093);NUMERICAL SOLUTION OF DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM BASED ON THE RBC MODEL[J];Mathematics in Economics;2007-03
3 Yang Quan (Department of International Economics and Trade, School of Economics, Xiamen University, Xiamen, Fujian, 361005);The portfolio method for solving global disequilibrium problem—An analysis on the U.S.A. and the implication for China[J];Economist;2008-05
4 JIANHUAI SHI (Peking University);Is Virtue Really Conflicted?——Comments on McKinnon's Theory of Conflicted Virtue Syndrome[J];China Economic Quarterly;2005-04
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