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"The paper proposes a novel method for conducting policy analysis with potentially misspecified dynamic stochastic general equilibrium (DSGE) models and applies it to a New Keynesian DSGE model along the lines of Christiano, Eichenbaum, and Evans (JPE 2005) and Smets and Wouters (JEEA 2003). We first quantify the degree of model misspecification and then illustrate its implications for the performance of different interest rate feedback rules. We find that many of the prescriptions derived from the DSGE model are robust to model misspecification"--Federal Reserve Bank of Atlanta web site.
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Monetary policy analysis with potentially misspecified models
2007, National Bureau of Economic Research
in English
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Monetary policy analysis with potentially misspecified models
2005, Federal Reserve Bank of Atlanta
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in English
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Book Details
Edition Notes
Title from PDF file as viewed on 8/07/2006.
Includes bibliographical references.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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- Created December 17, 2020
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