The present paper shows that a DSGE model can be represented by a finite order VAR if and only if the eigenvalues of the matrix defined in Fernandez-Villaverde et al. (2007) are all equal to zero. Further it shows that this condition is equivalent to the unimodularity condition presented in Ravenna (2007). (C) 2013 Elsevier B.V. All rights reserved.
A check for finite order VAR representations of DSGE models / Franchi, Massimo; Anna, Vidotto. - In: ECONOMICS LETTERS. - ISSN 0165-1765. - STAMPA. - 120:1(2013), pp. 100-103. [10.1016/j.econlet.2013.04.013]
A check for finite order VAR representations of DSGE models
FRANCHI, Massimo;
2013
Abstract
The present paper shows that a DSGE model can be represented by a finite order VAR if and only if the eigenvalues of the matrix defined in Fernandez-Villaverde et al. (2007) are all equal to zero. Further it shows that this condition is equivalent to the unimodularity condition presented in Ravenna (2007). (C) 2013 Elsevier B.V. All rights reserved.File allegati a questo prodotto
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