Bayesian Estimation of a Small Open Economy DSGE Model for Azerbaijan | DSGE Model for Azerbaijan

Ali Ahmadov

ISBN 10: 3846587443 / ISBN 13: 9783846587447

Published by LAP LAMBERT Academic Publishing, 2012

About this Item

Bayesian Estimation of a Small Open Economy DSGE Model for Azerbaijan | DSGE Model for Azerbaijan | Ali Ahmadov | Taschenbuch | 64 S. | Englisch | 2012 | LAP LAMBERT Academic Publishing | EAN 9783846587447 | Verantwortliche Person für die EU: BoD - Books on Demand, In de Tarpen 42, 22848 Norderstedt, info[at]bod[dot]de | Anbieter: preigu.

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Bibliographic Details

• Title: Bayesian Estimation of a Small Open Economy DSGE Model for Azerbaijan | DSGE Model for Azerbaijan
• Publisher: LAP LAMBERT Academic Publishing
• Publication Date: 2012
• Language: English
• ISBN 10: 3846587443
• ISBN 13: 9783846587447
• Binding: Taschenbuch
• Condition: Neu
• Dimensions: 220W x 150H x 4D millimeters 220 millimeters width by 150 millimeters height by 4 millimeters depth
• Weight: 113 grams
• Seller catalogs:
  • Bücher

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Synopsis

This paper develops and estimates a Dynamic Stochastic General Equilibrium (DSGE) model for the Azerbaijan economy. The model incorporates with open economy features such as habit formation and cost of adjustment in capital accumlation. The model has five types of economic agents: households, firms, aggregators, the rest of the world and the government. It includes a number of shocks and frictions. The model is estimated with Bayesian techniques using thirteen macro economic variables: GDP inflation, private consumption good inflation, investment good inflation, real wages, real private consumption, real investment, real GDP, employment, real exports, real imports, nominal interest rate, foreign real GDP and foreign nominal interest rate. The main aim of the paper is to estimate various specifications of a small open economy model in order to determine the model which provides a better fit of Azerbaijan economy.

About the Author

Ali A. Ahmadov, MA: Studied Economics at Central European University. Leading specialist of Business Planning and Budgeting Department at VTB Bank (Azerbaijan).