Appendix to: Evaluating An Estimated New Keynesian Small Open Economy Model

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Monetary policy and exchange rate overshooting: Dornbusch was right after all* (2009, background): “(2004) and Adolfson et al. (2006). However, as DSGE models have begun to dominate the field of applied macroeconomics and policymaking, it seems now more likely that the economic profession might eventually abandon the Dornbusch overshooting model – also in theory.”
Anticipated Alternative Policy-Rate Paths in Policy Simulations (2011, methodology): “In the Rudebusch-Svensson model, which has no forward(4)See also Adolfson, Laséen, Lindé, and Villani [5] and [6].”
Using monetary policy to stabilize economic activity (2009, methodology): “Thus, with xt = 0 we can rewrite (4) as”
Policy Analysis Using DSGE Models: An Introduction (2010, background): “…a demand block, a supply block, and a 4 Some of these larger DSGE models inform policy analysis at central banks around the world: Smets and Wouters (2007) of the European Central Bank; Edge, Kiley, and Laforte (2008) of the Federal Reserve System; and Adolfson et al. (2008) of the Riksbank.”
ON THE SOURCES OF AGGREGATE FLUCTUATIONS IN EMERGING ECONOMIES (2013, unknown): “Consider the case of R, the AR(1) parameter in the R process.”