DSGE Models for Monetary Policy Analysis

descriptionPublicationkeyboard_double_arrow_right Article , Part of book or chapter of book , Other literature type , Preprint 01 Jan 2010 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Lawrence J. Christiano; Mathias Trabandt; Karl Walentin;

doi: 10.2139/ssrn.1680621 , 10.1016/b978-0-444-53238-1.00007-7

DSGE Models for Monetary Policy Analysis

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Abstract

Monetary DSGE models are widely used because they fit the data well and 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 paper describes and implements Bayesian moment matching and impulse response matching procedures for this purpose.

Related Organizations

Federal Reserve Bank of Cleveland
United States
National Bureau of Economic Research
United States
NORTHWESTERN UNIVERSITY
United States
Goethe University Frankfurt
Germany
European Central Bank
Germany

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Keywords

jel: jel:J6, jel: jel:E2, jel: jel:E3, jel: jel:E5

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