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DSGE Models for Monetary Policy Analysis

In: Handbook of Monetary Economics

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  • Christiano, Lawrence J.
  • Trabandt, Mathias
  • Walentin, Karl

Abstract

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.

Suggested Citation

  • Christiano, Lawrence J. & Trabandt, Mathias & Walentin, Karl, 2010. "DSGE Models for Monetary Policy Analysis," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 7, pages 285-367, Elsevier.
    • Handle: RePEc:eee:monchp:3-07
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