Macroeconomic Modeling for Monetary Policy Evaluation
描述了近期用于货币政策评估的宏观经济模型的主要特征，指出其与早期模型的关键差异，强调预期和自然利率对政策操作的重要性。
We describe some of the main features of the recent vintage of macroeconomic models used for monetary policy evaluation. We point to some of the key differences with respect to the earlier generation of macro models and highlight the insights for policy that these new frameworks have to offer. Our discussion emphasizes two key aspects of the new models: 1) the significant role of expectations of future policy actions in the monetary transmission mechanism and 2) the importance for the central bank of tracking the flexible price equilibrium values of the natural levels of output and the real interest rate. We argue that both features have important implications for the conduct of monetary policy.