Nonlinear Models Give No Escape From r* — Brian Romanchuk

Summary:
The dynamic stochastic general equilibrium (DSGE) model literature is ever-growing, and new features are being continuously added. This makes it difficult to make generalisations about the literature. However, from a macro modelling perspective, we are mainly interested in models that might be used by a central bank to set interest rates. Even if we are not central bankers ourselves, we presumably want to understand how central bankers see their policy lever as working.... Bond EconomicsNonlinear Models Give No Escape From r*Brian Romanchuk

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