Variable Mismeasurement in a Class of DSGE Models: Comment

Ray C. Fair ()
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Ray C. Fair: Cowles Foundation, Yale University, https://economics.yale.edu/people/faculty/ray-fair

No 2166R, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: This comment points out mismeasurement of three of the variables in the DSGE model in Smets and Wouters (2007) and in models that use the Smets-Wouters model as a benchmark. The mismeasurement appears serious enough to call into question the reliability of empirical results using these variables.

Keywords: DSGE models; Macro data (search for similar items in EconPapers)
JEL-codes: E12 E32 E7 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2019-02, Revised 2019-07
New Economics Papers: this item is included in nep-dge, nep-ecm, nep-mac and nep-ore
References: View references in EconPapers View complete reference list from CitEc
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Published in Journal of Macroeconomics (December 2020), 66: Article 10342

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