Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/285379 
Year of Publication: 
2024
Series/Report no.: 
Technical Paper No. 01/2024
Publisher: 
Deutsche Bundesbank, Frankfurt a. M.
Abstract: 
Optimal policy projections (OPPs) offer a flexible way to derive scenario-based policy recommendations. This note describes how to calculate OPPs for a simple textbook New Keynesian model and provides illustrations for various examples. It also demonstrates the versatility of the approach by showing OPP results for simulations conducted using a medium-scale DSGE model and a New Keynesian model with heterogeneous households.
Subjects: 
Optimal monetary policy
macroeconomic projections
New Keynesian models
household heterogeneity
JEL: 
C63
E20
E31
E47
E52
E58
Document Type: 
Working Paper

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