Policy predictions if the model doesn’t fit

This paper uses a novel method for conducting policy analysis with potentially misspecified DSGE models (Del Negro and Schorfheide 2004) and applies it to a simple New Keynesian DSGE model. We illustrate the sensitivity of the results to assumptions on the policy invariance of model misspecifications.

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Year of publication:	2004
Authors:	Del Negro, Marco ; Schorfheide, Frank
Publisher:	Atlanta, GA : Federal Reserve Bank of Atlanta
Subject:	Dynamisches Gleichgewicht \| Modellierung \| Bayes-Statistik \| Theorie

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Series:	Working Paper ; 2004-38
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	479544905 [GVK] hdl:10419/100966 [Handle] RePEc:fip:fedawp:2004-38 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010397637