| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13492 |
| DP13492 Identification Versus Misspecification in New Keynesian Monetary Policy Models | |
| Jesper Linde; Stefan Laséen; Marco Ratto | |
| 发表日期 | 2019-01-26 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | In this paper, we study identification and misspecification problems in standard closed and open-economy empirical New-Keynesian DSGE models used in monetary policy analysis. We find that problems with model misspecification still appear to be a first-order issue in monetary DSGE models, and argue that it is problems with model misspecification that may benefit the most from moving from a classical to a Bayesian framework. We also argue that lack of identification should neither be ignored nor be assumed to affect all DSGE models. Fortunately, identification problems can be readily assessed on a case-by-case basis, by applying recently developed pre-tests of identification. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Bayesian estimation Monte-carlo methods Maximum likelihood estimation Dsge model Closed economy Open economy |
| URL | https://cepr.org/publications/dp13492 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542308 |
| 推荐引用方式 GB/T 7714 | Jesper Linde,Stefan Laséen,Marco Ratto. DP13492 Identification Versus Misspecification in New Keynesian Monetary Policy Models. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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