文章基本信息

标题：Monetary policy analysis with potentially misspecified models
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作者：Marco Del Negro ; Frank Schorfheide
期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2005
出版社：European Central Bank
摘要：This paper proposes a novel method for conducting policy analysis with potentially misspecified dynamic stochastic general equilibrium (DSGE) models and applies it to a New Keynesian DSGE model along the lines of Christiano, Eichenbaum, and Evans (JPE 2005) and Smets and Wouters (JEEA 2003). Specifically, we are studying the effects of coefficient changes in interest-rate feedback rules on the volatility of output to assumptions on the policy invariance of model misspecifications.
关键词：Bayesian Analysis; DSGE Models; Model Misspecification