{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,13]],"date-time":"2026-10-13T22:35:02Z","timestamp":1791930902195,"version":"4.3.4"},"reference-count":30,"publisher":"Wiley","issue":"7","license":[{"start":{"date-parts":[[2014,10,12]],"date-time":"2014-10-12T00:00:00Z","timestamp":1413072000000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/onlinelibrary.wiley.com\/termsAndConditions#vor"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["J of Applied Econometrics"],"published-print":{"date-parts":[[2014,11]]},"abstract":"<jats:title>SUMMARY<\/jats:title><jats:p>In this paper we analyze the propagation of shocks originating in sectors that are not present in a baseline dynamic stochastic general equilibrium (DSGE) model. Specifically, we proxy the missing sector through a small set of factors that feed into the structural shocks of the DSGE model to create correlated disturbances. We estimate the factor structure by either matching impulse responses of the augmented DSGE model to those generated by an auxiliary model or by using Bayesian techniques. We apply this methodology to track the effects of oil shocks and housing demand shocks in models without energy or housing sectors. Copyright \u00a9 2014 John Wiley &amp; Sons, Ltd.<\/jats:p>","DOI":"10.1002\/jae.2409","type":"journal-article","created":{"date-parts":[[2014,10,13]],"date-time":"2014-10-13T03:16:05Z","timestamp":1413170165000},"page":"1145-1163","source":"Crossref","is-referenced-by-count":4,"title":["PRACTICAL TOOLS FOR POLICY ANALYSIS IN DSGE MODELS WITH MISSING SHOCKS"],"prefix":"10.1002","volume":"29","author":[{"given":"Dario","family":"Caldara","sequence":"first","affiliation":[{"name":"Board of Governors of the Federal Reserve System  Washington DC USA"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Richard","family":"Harrison","sequence":"additional","affiliation":[{"name":"Bank of England  London UK"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Anna","family":"Lipi\u0144ska","sequence":"additional","affiliation":[{"name":"Board of Governors of the Federal Reserve System  Washington DC USA"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2014,10,12]]},"reference":[{"key":"e_1_2_8_2_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jinteco.2007.01.003"},{"key":"e_1_2_8_3_1","doi-asserted-by":"publisher","DOI":"10.1007\/s10614-009-9182-6"},{"key":"e_1_2_8_4_1","doi-asserted-by":"crossref","unstructured":"BaumeisterC LiuP MumtazH.2010.Changes in the transmission of monetary policy: evidence from a time\u2010varying factor\u2010augmented VAR. Working Paper 401 Bank of England London UK.","DOI":"10.2139\/ssrn.1701142"},{"key":"e_1_2_8_5_1","doi-asserted-by":"publisher","DOI":"10.1016\/S1574-0048(99)10034-X"},{"key":"e_1_2_8_6_1","doi-asserted-by":"publisher","DOI":"10.1162\/0033553053327452"},{"key":"e_1_2_8_7_1","doi-asserted-by":"crossref","unstructured":"BoivinJ GiannoniM.2006.DSGE models in a data\u2010rich environment. NBER Technical Torking Paper 0332. National Bureau of Economic Research Cambridge USA.","DOI":"10.3386\/t0332"},{"key":"e_1_2_8_8_1","unstructured":"BrubakkL Huseb\u00f8TA MaihJ OlsenK \u00d8stnorM.2006.Finding NEMO: documentation of the Norwegian economy model. Norges Bank staff memo. 2006\/6."},{"key":"e_1_2_8_9_1","doi-asserted-by":"publisher","DOI":"10.1007\/s13209-009-0011-x"},{"key":"e_1_2_8_10_1","doi-asserted-by":"publisher","DOI":"10.1086\/426038"},{"key":"e_1_2_8_11_1","first-page":"1","volume-title":"NBER Macroeconomics Annual 2006","author":"Christiano LJ","year":"2007"},{"key":"e_1_2_8_12_1","doi-asserted-by":"publisher","DOI":"10.1016\/B978-0-444-53238-1.00007-7"},{"key":"e_1_2_8_13_1","doi-asserted-by":"crossref","unstructured":"ChristoffelK CoenenG WarneA.2008.The new area\u2010wide model of the euro area: a micro\u2010 founded open\u2010economy model for forecasting and policy analysis. Working Paper Series 944 European Central Bank Frankfurt am Main Germany.","DOI":"10.2139\/ssrn.1271865"},{"key":"e_1_2_8_14_1","doi-asserted-by":"crossref","unstructured":"ChungHT KileyMT LaforteJP.2010.Documentation of the Estimated Dynamic Optimization\u2010based (EDO) model of the U.S. economy: 2010 version. Finance and Economics Discussion Series 2010\u201029. Board of Governors of the Federal Reserve System Washington DC.","DOI":"10.17016\/FEDS.2010.29"},{"key":"e_1_2_8_15_1","doi-asserted-by":"publisher","DOI":"10.1257\/jel.37.4.1661"},{"key":"e_1_2_8_16_1","doi-asserted-by":"crossref","unstructured":"C\u00fardiaV ReisR.2010.Correlated disturbances and U.S. business cycles. Working Paper 15774 National Bureau of Economic Research Cambridge USA.","DOI":"10.3386\/w15774"},{"key":"e_1_2_8_17_1","doi-asserted-by":"publisher","DOI":"10.1111\/j.1468-2354.2004.00139.x"},{"key":"e_1_2_8_18_1","doi-asserted-by":"publisher","DOI":"10.1257\/aer.99.4.1415"},{"key":"e_1_2_8_19_1","doi-asserted-by":"publisher","DOI":"10.1007\/s13209-009-0014-7"},{"key":"e_1_2_8_20_1","doi-asserted-by":"publisher","DOI":"10.1257\/aer.97.3.1021"},{"key":"e_1_2_8_21_1","doi-asserted-by":"publisher","DOI":"10.1257\/0002828054201477"},{"key":"e_1_2_8_22_1","doi-asserted-by":"publisher","DOI":"10.1257\/mac.2.2.125"},{"key":"e_1_2_8_23_1","doi-asserted-by":"crossref","unstructured":"LombardiMJ NicolettiG.2011.Bayesian prior elicitation in DSGE models: macro\u2010 vs micro\u2010 priors. Working Paper Series 1289. European Central Bank Frankfurt am Main Germany.","DOI":"10.2139\/ssrn.1738317"},{"key":"e_1_2_8_24_1","doi-asserted-by":"publisher","DOI":"10.1111\/j.1468-0297.2009.02302.x"},{"key":"e_1_2_8_25_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jmoneco.2006.09.002"},{"key":"e_1_2_8_26_1","doi-asserted-by":"crossref","unstructured":"SchorfheideF.2011.Estimation and evaluation of DSGE models: progress and challenges. Working Paper 16781. National Bureau of Economic Research Cambridge USA.","DOI":"10.21799\/frbp.wp.2011.07"},{"key":"e_1_2_8_27_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijforecast.2009.12.010"},{"key":"e_1_2_8_28_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jedc.2007.09.004"},{"key":"e_1_2_8_29_1","doi-asserted-by":"publisher","DOI":"10.1162\/154247603770383415"},{"key":"e_1_2_8_30_1","doi-asserted-by":"publisher","DOI":"10.1257\/aer.97.3.586"},{"key":"e_1_2_8_31_1","doi-asserted-by":"publisher","DOI":"10.1016\/0167-2231(93)90009-L"}],"container-title":["Journal of Applied Econometrics"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.wiley.com\/onlinelibrary\/tdm\/v1\/articles\/10.1002%2Fjae.2409","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/api.wiley.com\/onlinelibrary\/tdm\/v1\/articles\/10.1002%2Fjae.2409","content-type":"unspecified","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/pdf\/10.1002\/jae.2409","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/full-xml\/10.1002\/jae.2409","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/pdf\/10.1002\/jae.2409","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,9,8]],"date-time":"2023-09-08T09:26:27Z","timestamp":1694165187000},"score":1,"resource":{"primary":{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/10.1002\/jae.2409"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2014,10,12]]},"references-count":30,"journal-issue":{"issue":"7","published-print":{"date-parts":[[2014,11]]}},"alternative-id":["10.1002\/jae.2409"],"URL":"https:\/\/doi.org\/10.1002\/jae.2409","archive":["Portico"],"relation":{},"ISSN":["0883-7252","1099-1255"],"issn-type":[{"value":"0883-7252","type":"print"},{"value":"1099-1255","type":"electronic"}],"subject":[],"published":{"date-parts":[[2014,10,12]]}}}