Policy Predictions if the Model Does Not Fit

Marco Del Negro and Frank Schorfheide

Journal of the European Economic Association, 2005, vol. 3, issue 2-3, 434-443

Abstract: This paper uses a novel method for conducting policy analysis with potentially misspecified DSGE models 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. (JEL: C32, E52) Copyright (c) 2005 The European Economic Association.

Date: 2005
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Working Paper: Policy predictions if the model doesn’t fit (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:tpr:jeurec:v:3:y:2005:i:2-3:p:434-443

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