Book

Vox eBooks

DSGE Models in the Conduct of Policy: Use as intended

Dynamic stochastic general equilibrium (DSGE) models are in wide use yet have come under sharp criticism, given their complex nature and the assumptions they rely on. However, many central banks use them in policy analysis. Is this a misguided use of economists’ and policy makers’ time? This eBook reviews the use of DSGE models in policy institutions, the lessons learned, and the desirable ways forward.

Publication file

PDF document / 6.19 MB

Citation

Gürkaynak, R and C Tille (eds) (2017), ‘DSGE Models in the Conduct of Policy: Use as intended‘, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Gürkaynak, R and C Tille (2017), ‘Introduction: DSGE Models in the Conduct of Policy: Use as intended‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Coenen, G, R Motto, M Rostagno, S Schmidt and F Smets (2017), ‘DSGE models and counterfactual analysis‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Williams, J (2017), ‘DSGE models: A cup half full‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Assenmacher, K (2017), ‘Bridging the gap between structural VAR and DSGE models‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Gerlach, S (2017), ‘DSGE models in monetary policy committees‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Del Negro, M and M Giannoni (2017), ‘Using dynamic stochastic general equilibrium models at the New York Fed‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Justiniano, A, G Primiceri and A Tambalotti (2017), ‘Empirical DSGE Models: from the Great Moderation, to the Great Recession and beyond‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Ghironi, F (2017), ‘Policy packages: Challenge and opportunity for DSGE research‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Galí, J (2017), ‘Some scattered thoughts on DSGE models‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended

Citation

Blanchard, O (2017), ‘Do DSGE models have a future?‘, in Gürkaynak, R and C Tille (eds), DSGE Models in the Conduct of Policy: Use as intended, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/dsge-models-conduct-policy-use-intended