DSGE MODELS: OPTIMAL MONETARY CONSENCUS
DSGE MODELLERİ: OPTİMAL PARASAL UZLAŞI

Author : Selma SEVİNÇ ORHAN
Number of pages : 110-128

Abstract

In the mainstream literature, DSGE (Dynamic Stockhastick General Equilibrium) models, new classical, new Keynesian and real business cycle approach, forcing a theoretical consensus, "a modern political consensus" field. New macro consensus approach is methodical consensus of DSGE models. DSGE is formalist methodological consensus. Firstly, in this study are discussed the relationship between the new classical approach, the new keynesian approach and the reel busines cycle approach which consensus in the upper structure of DSGE models for all their theoretical and policy differences. In the study, secondly, DSGE models produced from modern macroeconomic approach to policy consensus view that "optimal monetary rules" are put forward hypothetical internal inconsistencies and policy disputes. After the recession in 2008, the new consensus economics, DSGE models, optimal monetary rule, which reinforces the FES's global hegemonic field. Mainstream macro economic consensus, for the US economy, the FED is the assurance provided by the global hegemonic dominance.

Keywords

Monetary Consencus

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