Macroeconomic Application Software

Stand-alone packaged software for calculating results of modern macroeconomic (DSGE) models

The stand-alone programs are based on Harald Uhlig's Toolkit and on the program Matlab, but both of
them do not have to be installed on your computer. Special thanks go to the contributors of the codes.

Description:
This exe-file, once executed, will install a program on your computer which allows you to get impulse responses to various shocks in the Smets and Wouters (JEEA, 2003) model. The "Dynare" part in the filename refers to the fact that there are differences between the model equations given in the JEEA article and the impulse responses printed there, which are based on a Dynare program of the authors. The file here follows the specification used in the Dynare code of the authors. See the related lecture notes pdf for details on the differences.

Reference:
Smets, Frank and Raf Wouters (2003): "An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area," Journal of the European Economic Association, MIT Press, vol. 1(5), pages 1123-1175, ECB Working paper version: Smets and Wouters (2002)

Download  (new: extended version)

Lecture Notes:
Smets-Wouters (Slides of the course: Monetary and Fiscal Policy, WS 2006/07)

Reference:
Hansen, Gary D., (1985): "Indivisible labor and the business cycle," Journal of Monetary Economics, Elsevier, vol. 16(3), pages 309-327, November.

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Lecture Notes:
Solving DSGE models: Hansens Real Business Cycle Model (Slides of the course Introduction to Advanced Macroeconomic Analysis, WS 2006/07)

Further Information