We estimate vector autoregressions with drifting coefficients and stochastic volatility to
investigate whether US inflation persistence has changed. We focus on the inflation gap …

The parameters of the Taylor rule relating interest rates to inflation and other variables are
not identified in new-Keynesian models. Thus, Taylor rule regressions cannot be used to …

Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the
development of a new synthesis that combines insights of new classical, new Keynesian …

We develop an analytical framework to study global identification in structural models with
forward-looking expectations. Our identification condition combines the similarity …

This paper comments on selected aspects of identification issues of DSGE models. It
suggests the singular value decomposition (SVD) as a useful tool for detecting local weak …

This paper provides a first attempt to quantify and at the same time utilize estimated
measures of uncertainty for the design of robust interest rate rules. We estimate several …

The parameters of the Taylor rule relating interest rates to inflation and other variables are
not identified in new-Keynesian models. Thus, Taylor rule regressions cannot be used to …

This paper introduces a computational framework to analyze global identification of
linearized DSGE models. A formal identification condition is established that relies on the …

I have always found it useful to think of a modern free-enterprise economy as a human
anthill. Like an anthill, it organizes individuals' activities into patterns more complex than the …

A DSGE model is identifiable when perturbing the parameters characterizing the forward
looking optimizing model induces a distinguishable solution to the model. This paper studies …