Policy predictions if the model does not fit

Journal of the European Economic Association

Volumn 3, Issue 2-3, 2005, Pages 434-443

  Del Negro, Marco ^a   Schorfheide, Frank ^b  

^a FEDERAL RESERVE BANK OF ATLANTA   (United States)

^b UNIVERSITY OF PENNSYLVANIA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 77957298803     PISSN: 15424766     EISSN: 15424774     Source Type: Journal    
DOI: 10.1162/jeea.2005.3.2-3.434     Document Type: Article

References (12)

1. Brainard, William (1967). Uncertainty and the Effectiveness of Policy. American Economic Review, 57,411-425.
2. Del Negro, Marco and Frank Schorfheide (2004a). Priors from Equilibrium Models for VARs. International Economic Review, 45, 643-673.
3. Del Negro, Marco and Frank Schorfheide (2004b). "Monetary Policy Analysis with Potentially Misspecified Models." Manuscript, University of Pennsylvania.
4. Del Negro, Marco, Frank Schorfheide, Frank Smets, and Raf Wouters (2004). "On the Fit and Forecasting Performance of New Keynesian Models." Manuscript, University of Pennsylvania.
5. Hansen, Lars P and Thomas J. Sargent (2000). "Wanting Robustness in Macroeconomics." Manuscript, New York University.
6. Ingram, Beth F. and Charles H. Whiteman (1994). Supplanting the Minnesota Prior-Forecasting Macroeconomic Time Series Using Real Business Cycle Model Priors. Journal of Monetary Economics, 34, 497-510.
7. Laforte, Jean-Phillipe (2003). Comparing Monetary Policy Rules in an Estimated General Equilibrium Model of the U.S. Economy. Manuscript, Federal Reserve Board of Governors, Washington, DC.
8. Onatski, Alexei and James H. Stock (2002). Robust Monetary Policy under Model Uncertainty in a Small Model of the U.S. Economy. Macroeconomic Dynamics, 6, 85-110.
9. Onatski, Alexei and Noah Williams (2004). "Empirical and Policy Performance of a Forward- Looking Monetary Model." Manuscript, Princeton University.
10. Sims, Christopher A. (1982). Policy Analysis with Econometric Econometric Models. Brookings Papers on Economic Activity, 1, 107-164.
11. Smets, Frank and Raf Wouters (2003). An Estimated Stochastic Dynamic General Equilibrium Model of the Euro Area. Journal ofthe European Economic Association, 1, 1123-1175.
12. Woodford, Michael (2003). Interest and Prices: Foundations ofa Theory of Monetary Policy. Princeton University Press.