R
Rafael Wouters
Researcher at National Bank of Belgium
Publications - 22
Citations - 7825
Rafael Wouters is an academic researcher from National Bank of Belgium. The author has contributed to research in topics: New Keynesian economics & Dynamic stochastic general equilibrium. The author has an hindex of 17, co-authored 22 publications receiving 7157 citations. Previous affiliations of Rafael Wouters include Center for Economic and Policy Research.
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Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach
TL;DR: Using a Bayesian likelihood approach, the authors estimate a dynamic stochastic general equilibrium model for the US economy using seven macroeconomic time series, incorporating many types of real and nominal frictions and seven types of structural shocks.
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Shocks and frictions in US business cycles: A Bayesian DSGE approach
Frank Smets,Rafael Wouters +1 more
TL;DR: In this paper, a dynamic stochastic general equilibrium (DSGE) model for the US economy is proposed, which incorporates many types of real and nominal frictions: sticky nominal price and wage setting, habit formation in consumption, investment adjustment costs, variable capital utilisation and fixed costs in production.
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On the Fit of New Keynesian Models
TL;DR: In this article, the authors provide new tools for the evaluation of dynamic stochastic general equilibrium (DSGE) models and apply them to a large-scale new Keynesian model.
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Unemployment in an Estimated New Keynesian Model
TL;DR: The authors reformulated the Smets-Wouters (2007) framework by embedding the theory of unemployment proposed in Gali (2011a,b) and estimate the resulting model using postwar U.S. data, while treating the unemployment rate as an additional observable variable.
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Unemployment in an Estimated New Keynesian Model
TL;DR: This article reformulated the Smets-Wouters (2007) framework by embedding the theory of unemployment proposed in Gali (2011a,b) and estimate the resulting model using postwar U.S. data, while treating the unemployment rate as an additional observable variable.