Dynamic Stochastic General Equilibrium (DSGE) models

Workshop on Friday 12 August 2005

The papers presented in this workshop examine Dynamic Stochastic General Equilibrium (DSGE) models. The distinguishing feature of these models is that the parameters reflect the preferences and constraints (both technological and institutional) faced by economic agents. The themes of the workshop include: monetary and fiscal policies, business cycles in small open economies and Bayesian estimation methods.

Conference Programme
Reserve Bank of New Zealand, Wellington, Friday 12 August 2005

8:30

Coffee

8:50

Alan Bollard, Governor, Opening Comments

Session Chair: Grant Spencer (RBNZ)

9:00

Philip Liu (ANU, RBNZ) "A Small New Keynesian Model of the New Zealand Economy" (PDF 615KB)

9:40

Discussant: John McDermott (ANZ National Bank)

9:50

General Discussion

10:00

Kirdan Lees (RBNZ) "Mind your Ps and Qs: Improving ARMA Forecasts with RBC Priors" (PDF 174KB), with Troy Matheson (RBNZ)

10:40

Discussant: Stephen Burnell (Victoria University of Wellington)

10:50

General Discussion

11:00

Coffee

Session Chair: David Hargreaves (RBNZ)

11:30

Claudio Soto (Central Bank of Chile) "Model for Analysis and Simulations" (PDF 536KB), with Juan Pablo Medina (Central Bank of Chile)

12:10

12:20

Discussant: Aaron Drew (RBNZ)

General Discussion

12:30

Lunch

Session Chair: Shaun Vahey (RBNZ)

2:00

Paul McNelis (Fordham University) "Fiscal and Trade Balances in a Model with Sticky Prices and Distortionary Taxes" (PDF 281KB), with Guay Lim (University of Melbourne)

2:40

Discussant: Kunhong Kim (Victoria University of Wellington )

2:50

General Discussion

3:00

Thomas Lubik (Johns Hopkins University) "A Simple, Structural, and Empirical Model of the Antipodean Transmission Mechanism" (PDF 543KB)

3:40

Discussant: Guay Lim (University of Melbourne)

3:50

General Discussion

4:00

Coffee

Session Chair: Aaron Drew (RBNZ)

4:30

Timothy Kam (ANU) "Ramsey Fiscal and Monetary Policy under Sticky Prices and Liquid Bonds" (PDF 567KB), with Yifan Hu (University of Hong Kong)

5:10

Discussant: Ana Maria Santacreu (NYU, RBNZ)

5:20

General Discussion

5:30

Workshop ends




PARTICIPANTS


Name

Affiliation




1

John McDermott

ANZ National Bank

2

Dimitri Margaritis

Auckland University of Technology

3

Timothy Kam

Australian National University

4

Philip Liu

Australian National University

5

Claudio Soto

Central Bank of Chile

6

Paul McNelis

Fordham University

7

Thomas Lubik

Johns Hopkins University

8

Weshah Razzak

Labour Market Policy Group

9

Ana Maria Santacreu

New York University

10

Alan Bollard

Reserve Bank of New Zealand

11

Aaron Drew

Reserve Bank of New Zealand

12

Yuong Ha

Reserve Bank of New Zealand

13

David Hargreaves

Reserve Bank of New Zealand

14

Bernard Hodgetts

Reserve Bank of New Zealand

15

Ozer Karagedikli

Reserve Bank of New Zealand

16

Kirdan Lees

Reserve Bank of New Zealand

17

Troy Matheson

Reserve Bank of New Zealand

18

Anella Munro

Reserve Bank of New Zealand

19

Michael Reddell

Reserve Bank of New Zealand

20

Rishab Sethi

Reserve Bank of New Zealand

21

Christie Smith

Reserve Bank of New Zealand

22

Grant Spencer

Reserve Bank of New Zealand

23

Shaun Vahey

Reserve Bank of New Zealand

24

Bob Buckle

The Treasury

25

Kam Szeto

The Treasury

26

Debasis Bandyopadhyay

University of Auckland

27

Ian King

University of Auckland

28

Donggyu Sul

University of Auckland

29

Les Oxley

University of Canterbury

30

Guay Lim

University of Melbourne

31

David Fielding

University of Otago

32

Richard Dutu

University of Waikato

33

Stephen Burnell

Victoria University of Wellington

34

Chia-Ying Chang

Victoria University of Wellington

35

Peter Chang

Victoria University of Wellington

36

Viv Hall

Victoria University of Wellington

37

Kunhong Kim

Victoria University of Wellington

38

Yuliya Meshcheryakova

Victoria University of Wellington

39

Vladimir Petkov

Victoria University of Wellington