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the advantages of DSGE

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the advantages of DSGE

Postby akbar_itc@yahoo.com » Fri May 02, 2014 10:02 am

Dear All Users,
I would be grateful if anyone direct me, what is the advantages of DSGE in comparison to the other models, for example VAR :?: :!:

Thanks everybody
akbar_itc@yahoo.com
 
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Re: the advantages of DSGE

Postby jpfeifer » Tue May 06, 2014 3:31 pm

The difference is that DSGE models are structural models while VARs are reduced form VARs. DSGE models are basically structural VARs (sVARs) with additional cross-equation restrictions.
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Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
jpfeifer
 
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