| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 966537 | Journal of Monetary Economics | 2013 | 11 Pages |
Abstract
⺠We propose two system-based identification-robust methods for DSGE models. ⺠Valid under weak identification and auxiliary assumptions that complete models. ⺠We apply to an illustrative New Keynesian system estimated using U.S. data. ⺠Complete model is rejected; forcing variable coefficients are insignificant. ⺠But NKPC is forward-looking; precise estimates obtained in Taylor rule.
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Authors
Jean-Marie Dufour, Lynda Khalaf, Maral Kichian,