DSGE Models for Monetary Policy Analysis

Lawrence Christiano, Mathias Trabandt and Karl Walentin

Chapter 07 in Handbook of Monetary Economics, 2010, vol. 3, pp 285-367 from Elsevier

Abstract: 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.

Keywords: 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 (search for similar items in EconPapers)
JEL-codes: E0 (search for similar items in EconPapers)
Date: 2010
ISBN: 978-0-444-53470-5
References: Add references at CitEc
Citations: View citations in EconPapers (201)

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Related works:
Working Paper: DSGE models for monetary policy analysis (2010)
Working Paper: DSGE Models for Monetary Policy Analysis (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:monchp:3-07

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