CFDP 2166R
Variable Mismeasurement in a Class of DSGE Models: Comment
Author(s):Publication Date: February 2019
Revision Date: July 2019
Pages: 9
Abstract:
This comment points out mismeasurement of three of the variables in the DSGE model in Smets and Wouters (2007) and in 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.
Keywords: DSGE models, Macro data
JEL Classification Codes: E12, E32, E77
JEL Classification Codes: E12E32
See CFDP Version(s): CFDP 2166