A primer on optimal policy projections

Thomas Dengler, Rafael Gerke, Sebastian Giesen, Daniel Kienzler, Joost Röttger, Alexander Scheer, Johannes Wacks

Optimal policy projections (OPPs) offer a flexible way to derive scenario-based policy recommendations. This note describes how to calculate OPPs for a simple textbook New Keynesian model and provides illustrations for various examples. It also demonstrates the versatility of the approach by showing OPP results for simulations conducted using a medium-scale DSGE model and a New Keynesian model with heterogeneous households.

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Year of publication:	[2024]
Authors:	Dengler, Thomas ; Gerke, Rafael ; Giesen, Sebastian ; Kienzler, Daniel ; Röttger, Joost ; Scheer, Alexander ; Wacks, Johannes
Publisher:	Frankfurt am Main : Deutsche Bundesbank
Subject:	Optimal monetary policy \| macroeconomic projections \| New Keynesian models \| household heterogeneity \| Geldpolitik \| Monetary policy \| Theorie \| Theory \| Neoklassische Synthese \| Neoclassical synthesis

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Extent:	1 Online-Ressource (circa 27 Seiten) Illustrationen
Series:	Technical paper. - Frankfurt am Main : Deutsche Bundesbank, ZDB-ID 3178571-2. - Vol. 2024, 01
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Notes:	Zusammenfassung in deutscher Sprache
Other identifiers:	hdl:10419/285379 [Handle]
Classification:	C63 - Computational Techniques ; E20 - Consumption, Saving, Production, Employment, and Investment. General ; E31 - Price Level; Inflation; Deflation ; E47 - Forecasting and Simulation ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014490757