Business Cycles in Emerging Countries: Productivity Shocks Versus Financial Frictions

Slides . Source File: slides_soe_rbc_emerging.tex in source_files.zip

Bayesian Estimation
Data argentina_data.xls Annual data from Argentina from 1901 to 2005. From column 1 to 4, the variables are, respectively, real GDP growth, real consumption growth, real gross investment growth, and the trade-balance-to-GDP ratio.
Matlab Code soe_rbc_emerging.zip Run the program bayes.m to generate an MCMC chain of the vector of estimatd parameters of length 1 million. Requires use of the matlab code for solving DSGE models up to first order written by S. Schmitt-Grohe and M. Uribe.

Noise Shocks: usg_noise.zip (Bayesian Estimation)