DSGE Models in the Conduct of Policy: Use as intended

Refet Gürkaynak, Cédric Tille 28 April 2017

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Contents

Foreword 

Introduction: Are DSGE models useful for policymakers? 
Refet S. Gürkaynak and Cédric Tille

Section I: How do DSGE models fit in the toolbox?

DSGE models: A cup half full 
John C. Williams

Bridging the gap between structural VAR and DSGE models
Katrin Assenmacher

DSGE models in monetary policy committees
Stefan Gerlach

Section II:  Lessons from DSGE use in policy analysis

Using dynamic stochastic general equilibrium models at the New York Fed
Marco Del Negro and Marc Giannoni

Empirical DSGE Models: from the Great Moderation, to the Great Recession and beyond
Alejandro Justiniano, Giorgio Primiceri, Andrea Tambalotti

Policy packages: Challenge and opportunity for DSGE research
Fabio Ghironi

DSGE models and counterfactual analysis
Günter Coenen, Roberto Motto, Massimo Rostagno, Sebastian Schmidt and Frank Smets

Section III:  What next?

Some scattered thoughts on DSGE models
Jordi Galí

Do DSGE models have a future?
Olivier Blanchard

Professor and Department Chair at the Department of Economics, Bilkent University; and CEPR Research Fellow

Professor of Economics, Graduate Institute, Geneva and CEPR Research Fellow

Events