Riksbank paper on new DSGE algorithm
A Riksbank paper, published on Tuesday and co-authored by Lars Svensson, a deputy governor at the central bank, examines a new forecasting algorithm for monetary policy which builds in anticipated policy-rate paths.
Svensson and Stefan Laséen, the paper's author, use Ramses, the Riksbank's main dynamic stochastic general equilibrium model, to specify a new algorithm which constructs policy projections conditional on alternative anticipated policy-rate paths.
Svensson and Laséen note that
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