RDP 2013-06: Estimating and Identifying Empirical BVAR-DSGE Models for Small Open Economies
Equation
c
t
=
1
1
+
h
(
h
c
t
−
1
+
E
t
(
c
t
+
1
)
−
σ
(
1
−
h
)
(
i
t
−
E
t
π
t
+
1
)
+
σ
(
1
−
h
)
(
1
−
ρ
g
)
ε
g
,
t
)
.
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