Hello dear all,
I am currently in the final year of my phd. thesis and my last chapter. In this chapter I aim to estimate an optimal reaction function of the Central Bank that takes into account financial stability objective. I would like to know whether it is optimal for the Central Bank to react or not to financial instability.
I planned to do it using a DSGE model, but I do not master the resolution of this type of model. I can only write the program and execute it (Dynare) only when it has been previously resolved by a third party.
Thus, I have several questions:
1) Is there an alternative model to the using of DSGE model consistent with what I want to achieve in this last chapter?
2) For the case of DSGE model, Is it possible to run my model without linearizing it and get: a Central Bank reaction function, associated loss functions, IRF, ...?
Thank You!
Mbassi, I advise that you consult a statistician or an econometric to properly teach how to apply the model and explain to him theories behind what you are trying to model so that he can properly advise you. do not be in a hurry to graduate for a doctorate work is not how fast you graduate but how well, mind you. Those who hurry to graduate politically and any how, would often regret their action as any mistake made at that point would continue to re-occur in the the life of such an individual even he or she tries to make up for these deficiencies later in life. And as one of my mentors, Prof Ojo, '' It has a way of showing for those who obtain political PhD or doctorate degrees, when job/duty expected of a PhD shows up, he would not be able to face it. Those who are seasoned authorities would understand.'' I understand him well!
Dear Christopher, I noticed you hail from Yaounde,Cameroun,in what university are you doing the PHd? What is the topic of your PhD?If my professional counsel has meaning to you you can contact me via emailto:[email protected];tel:+234-8037876614 so that I can connect you with an econometrician in my university to help you. Thank you.Professor Sebastian O. Uremadu.
My topic is related to the optimal monetary policy facing financial instability. Is it optimal for the Central Bank to react to financial instability?
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