Commentary: Using Models for Monetary Policy Analysis

Modern policy analysis makes extensive use of dynamic stochastic general equilibrium (DSGE) models. These models differ significantly from earlier generations of large-scale econometric models. I review what I see as major progress in the ability of economists to conduct model-based policy analysis. This progress has come through the evolution in the types of models being used and in a refinement of the types of questions asked of these models.

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Year of publication:	2010
Authors:	Walsh, Carl E.
Published in:	International Journal of Central Banking. - International Journal of Central Banking. - Vol. 6.2010, 1, p. 259-270
Publisher:	International Journal of Central Banking

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Extent:	application/pdf text/html
Type of publication:	Article
Language:	English
Classification:	E17 - Forecasting and Simulation ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008583507