Title: Inflation in the Great Recession and New Keynesian Models: Comment
Abstract: This comment points out mismeasurement of three of the variables in the DSGE model in Del Negro, Giannoni, and Schorfheide (2015). These errors began with the model in Smets and Wouters (2007), and they also exist in other models that use the Smets-Wouters model as a benchmark. The mismeasurement appears serious enough to call into question the reliability of empirical results using these variables.
Publication Year: 2019
Publication Date: 2019-01-01
Language: en
Type: article
Indexed In: ['crossref']
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