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Policy Predictions If the Model Doesn't Fit
2004
Social Science Research Network
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This paper uses a novel method for conducting policy analysis with potentially misspecified DSGE models (Del Negro and Schorfheide 2004) and applies it to a simple New Keynesian DSGE model. We illustrate the sensitivity of the results to assumptions on the policy invariance of model misspecifications. JEL classification: C32
doi:10.2139/ssrn.665190
fatcat:2xxbcntzhfbrdolgdd4sibbfku