Policy Predictions if the Model Does Not Fit
This paper uses a novel method for conducting policy analysis with potentially misspecified DSGE models 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. (JEL: C32, E52) Copyright (c) 2005 The European Economic Association.
Volume (Year): 3 (2005)
Issue (Month): 2-3 (04/05)
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- repec:cup:macdyn:v:6:y:2002:i:1:p:85-110 is not listed on IDEAS
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