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DSGE Models for Monetary Policy Analysis

  • Lawrence J. Christiano
  • Mathias Trabandt
  • Karl Walentin

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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File URL: http://www.nber.org/papers/w16074.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 16074.

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Date of creation: Jun 2010
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Publication status: published as DSGE Models for Monetary Policy Analys is, joint with Mathia s Trabandt and Karl Walentin, in Benjamin M. Friedman, and Michael Woodford, editors: Handbook of Monetary Economics , Vol. 3A, The Netherlands: North-Holland.
Handle: RePEc:nbr:nberwo:16074
Note: EFG
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