Chapter 7. DSGE Models for Monetary Policy Analysis

Monetary DSGE models are widely used because they fit the data well and they can be used to address important monetary policy questions. We provide a selective review of these developments. Policy analysis with DSGE models requires using data to assign numerical values to model parameters. The chapter describes and implements Bayesian moment matching and impulse response matching procedures for this purpose.

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Year of publication:	2010
Authors:	Christiano, Lawrence J. ; Trabandt, Mathias ; Walentin, Karl
Published in:	Handbook of monetary economics : volume 3. - San Diego, CA : North-Holland, ISBN 0-444-53470-9. - 2010, p. 285-367
Subject:	Frisch Labor Supply Elasticity \| HP Filter \| Impulse Response Function \| Limited Information Bayesian Estimation \| Materials Input for Production \| New Keynesian DSGE Models \| Output Gap \| Potential Output \| Taylor Principle \| Unemployment \| Vector Autoregression \| Working Capital Channel \| Dynamisches Gleichgewicht \| Dynamic equilibrium \| Neoklassische Synthese \| Neoclassical synthesis \| Schätzung \| Estimation \| Geldpolitik \| Monetary policy \| VAR-Modell \| VAR model \| Bayes-Statistik \| Bayesian inference \| Bruttoinlandsprodukt \| Gross domestic product \| Produktionspotenzial \| Potential output \| Arbeitsangebot \| Labour supply \| Schätztheorie \| Estimation theory

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Type of publication:	Article
Language:	English
Other identifiers:	10.1016/B978-0-444-53238-1.00007-7 [DOI]
Classification:	E2 - Consumption, Saving, Production, Employment, and Investment ; E3 - Prices, Business Fluctuations, and Cycles ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit ; J6 - Mobility, Unemployment, and Vacancies
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014025673