Bårdsen, Gunnar; Fanelli, Luca - Institutt for Samfunnsøkonomi, Norges … - 2013
This paper proposes a new evaluation approach of the class of small-scale `hybrid' New Keynesian Dynamic Stochastic General Equilibrium (NK-DSGE) models typically used in monetary policy and business cycle analysis. The novelty of our method is that the empirical assessment of the NK-DSGE model...