DSGE Models for Monetary Policy Analysis

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.

MoreLess

Authors:	Christiano, Lawrence J. ; Trabandt, Mathias ; Walentin, Karl
Other Persons:	Friedman, Benjamin M. (contributor) ; Woodford, Michael (contributor)
Published in:	Handbook of Monetary Economics.
Subject:	Frisch Labor Supply Elasticity \| HP Filter \| Impulse Response Function \| Limited Information Bayesian Estimation \| Materials Input for Production \| New Keynesian DSGE Models \| Output Gap \| Potential Output \| Taylor Principle \| Unemployment \| Vector Autoregression \| Working Capital Channel

More details

Type of publication:	Article
Classification:	E0 - Macroeconomics and Monetary Economics. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009002673