Think long / George P. Shultz -- Policy principles : lessons from the Fed's past / Allan H. Meltzer -- The market view : incentives matter / Peter Fisher -- Monetary policy in the financial crisis / Donald Kohn -- Concerns about the Fed's new balance sheet / James D. Hamilton -- The need for a...

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new data base of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new database of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...