Three Essays in Macroeconomics

Three Essays in Macroeconomics

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Chapter one investigates the impact of agents' expectations about future fundamental economic disturbances (news) on macroeconomic dynamics. Several intuitive tests provide insight into the information content of the yield curve and its' ability to identify these 'news' disturbances. Bayesian estimation of a dynamic stochastic general equilibrium (DSGE) model using conventional macroeconomic aggregates and term structure data suggests that news shocks are important for understanding economic fluctuations.seem puzzling in light of a type of observational equivalence result emphasized in CKM. An example of this type of result which occurs when BCA is done with a linearly approximated RBC model is the following. Consider an RBC economyanbsp;...

Title:Three Essays in Macroeconomics
Author: Joshua Mark Davis
Publisher:ProQuest - 2008

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