Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "2081"
  #_source: array:26 [
    "id" => "2081"
    "slug" => "money-and-risk-in-a-dsge-framework-a-bayesian-application-to-the-eurozone"
    "yearMonth" => "2012-03"
    "year" => "2012"
    "title" => "Money and Risk in a DSGE Framework: A Bayesian Application to the Eurozone"
    "description" => "BENCHIMOL, J. et FOURÇANS, A. (2012). Money and Risk in a DSGE Framework: A Bayesian Application to the Eurozone. <i>Journal of Macroeconomics</i>, 34(1), pp. 95-111."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "FOURÇANS André"
        "bid" => "B00000199"
        "slug" => "fourcans-andre"
      ]
      1 => array:1 [
        "name" => "BENCHIMOL J."
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:4 [
      0 => "Estimation bayésienne"
      1 => "Modèle DSGE"
      2 => "Monnaie"
      3 => "Zone euro"
    ]
    "updatedAt" => "2021-02-02 16:16:18"
    "publicationUrl" => "https://www.sciencedirect.com/science/article/abs/pii/S0164070411000802"
    "publicationInfo" => array:3 [
      "pages" => "95-111"
      "volume" => "34"
      "number" => "1"
    ]
    "type" => array:2 [
      "fr" => "Articles"
      "en" => "Journal articles"
    ]
    "support_type" => array:2 [
      "fr" => "Revue scientifique"
      "en" => "Scientific journal"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "Cet article développe et teste un modèle de la zone euro analysant tout spécialement le rôle de la monnaie et du risque dans la dynamique économique. Le modèle s’inscrit dans le cadre Nouveau Keynésien-DSGE, la monnaie étant introduite dans la fonction d’utilité de façon non-séparable. La monnaie entre aussi dans la règle de Taylor de la BCE. En utilisant des méthodes d’estimations Bayésiennes, notre modèle permet d’éclairer les déterminants de la dynamique de la production, de l’inflation, de la monnaie et des taux d’intérêt. Le rôle de la monnaie est analysé plus en détail. Son impact sur la production dépend du degré de l’aversion au risque des ménages. Lorsque ce degré atteint un niveau suffisant, la monnaie exerce un impact significatif sur les fluctuations économiques."
      "en" => "We present and test a model of the Eurozone, with a special emphasis on the role of risk aversion and money. The model follows the New Keynesian DSGE framework, money being introduced in the utility function with a non-separability assumption. Money is also introduced in the Taylor rule. By using Bayesian estimation techniques, we shed light on the determinants of output, inflation, money, interest rate, flexible-price output, and flexible-price real money balance dynamics. The role of money is investigated further. Its impact on output depends on the degree of risk aversion. A high enough level of risk aversion would imply that money had significant quantitative effects on business cycle fluctuations."
    ]
    "authors_fields" => array:2 [
      "fr" => "Economie"
      "en" => "Economics"
    ]
    "indexedAt" => "2024-11-21T14:21:49.000Z"
    "docTitle" => "Money and Risk in a DSGE Framework: A Bayesian Application to the Eurozone"
    "docSurtitle" => "Journal articles"
    "authorNames" => "<a href="/cv/fourcans-andre">FOURÇANS André</a>, BENCHIMOL J."
    "docDescription" => "<span class="document-property-authors">FOURÇANS André, BENCHIMOL J.</span><br><span class="document-property-authors_fields">Economics</span> | <span class="document-property-year">2012</span>"
    "keywordList" => "<a href="#">Estimation bayésienne</a>, <a href="#">Modèle DSGE</a>, <a href="#">Monnaie</a>, <a href="#">Zone euro</a>"
    "docPreview" => "<b>Money and Risk in a DSGE Framework: A Bayesian Application to the Eurozone</b><br><span>2012-03 | Journal articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="https://www.sciencedirect.com/science/article/abs/pii/S0164070411000802" target="_blank">Money and Risk in a DSGE Framework: A Bayesian Application to the Eurozone</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 9.181117
  +"parent": null
}