I am a final year undergraduate student considering to write thesis using small open economy New Keynesian model. Though am not very familiar with such models, I am not happy with calibrating the parameters, rather want to estimate them. However, the country am considering doesn’t have quarterly data for GDP and consumption. I can only get for few variables, like export and imports.
Is there anyway I can estimate the parameters using DYNARE without data on GDP and consumption, or there is anyway I can use annual data instead of quarterly data to estimate DSGE parameters?
thanks in advance