Policy predictions if the model doesn’t fit

Marco Del Negro and Frank Schorfheide ()
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Frank Schorfheide: https://economics.sas.upenn.edu/people/frank-schorfheide

No 2004-38, FRB Atlanta Working Paper from Federal Reserve Bank of Atlanta

Abstract: This paper uses a novel method for conducting policy analysis with potentially misspecified DSGE models (Del Negro and Schorfheide 2004) and applies it to a simple New Keynesian DSGE model. We illustrate the sensitivity of the results to assumptions on the policy invariance of model misspecifications.

Date: 2004
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Related works:
Journal Article: Policy Predictions if the Model Does Not Fit (2005)
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