Policy predictions if the model doesn’t fit

Marco Del Negro () and Frank Schorfheide ()

No 2004-38, 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.

New Economics Papers: this item is included in nep-ecm
Date: 2004
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Journal Article: Policy Predictions if the Model Does Not Fit (2005)
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