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Federal Reserve Bank of Atlanta
FRB Atlanta Working Paper
Policy predictions if the model doesn’t fit
Marco Del Negro
Frank Schorfheide
Abstract

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.


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Marco Del Negro & Frank Schorfheide, Policy predictions if the model doesn’t fit, Federal Reserve Bank of Atlanta, FRB Atlanta Working Paper 2004-38, 2004.
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