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"Variable Mismeasurement in a Class of DSGE Models: Comment," July 2019.
pdf file.

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.

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