DSGE Models for Monetary Policy Analysis
Working Paper 16074
DOI 10.3386/w16074
Issue Date
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.
Published Versions
DSGE Models for Monetary Policy Analys is, joint with Mathia s Trabandt and Karl Walentin, in Benjamin M. Friedman, and Michael Woodford, editors: Handbook of Monetary Economics , Vol. 3A, The Netherlands: North-Holland.