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DSGE Models for Monetary Policy Analysis

Summary:
In a VoxEU eBook, Refet Gürkaynak and Cédric Tille collect the views of central bank and academic economists on DSGE models. In the introduction to the eBook, Gürkaynak and Tille summarize these views as follows: … there is agreement on the place of DSGE models in policy analysis. All see these models as part of the policymaker tool kit, while understanding their limitations and perceiving a similar road ahead.

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In a VoxEU eBook, Refet Gürkaynak and Cédric Tille collect the views of central bank and academic economists on DSGE models. In the introduction to the eBook, Gürkaynak and Tille summarize these views as follows:

… there is agreement on the place of DSGE models in policy analysis. All see these models as part of the policymaker tool kit, while understanding their limitations and perceiving a similar road ahead.

Dirk Niepelt
Dirk Niepelt is Director of the Study Center Gerzensee and Professor at the University of Bern. A research fellow at the Centre for Economic Policy Research (CEPR, London), CESifo (Munich) research network member and member of the macroeconomic committee of the Verein für Socialpolitik, he served on the board of the Swiss Society of Economics and Statistics and was an invited professor at the University of Lausanne as well as a visiting professor at the Institute for International Economic Studies (IIES) at Stockholm University.

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