Research areas
- Bayesian DSGE model estimation
- bayesian-indeterminacy-testing
- new-keynesian-phillips-curve identification
- monetary-policy-regime-switching
- Macroeconomic forecasting
Key papers
- testing-indeterminacy-application-monetary-policy — Bayesian indeterminacy testing for U.S. monetary policy (American Economic Review, 2004; with Thomas Lubik)
- dsge-model-based-estimation-new-keynesian — Review of NKPC estimation in DSGE models (FRB Richmond Economic Quarterly, 2008)
Recent work
A leading figure in Bayesian DSGE estimation. The Lubik-Schorfheide (2004) framework for estimation under indeterminacy and the An-Schorfheide (2007) guide to Bayesian estimation of DSGE models are standard references in the field.
Collaborators
- Thomas Lubik (Federal Reserve Bank of Richmond)
- Sungbae An (Bank of Korea)
- Marco Del Negro (Federal Reserve Bank of New York)
- Stephanie Schmitt-Grohe
My notes
Schorfheide appears in two of the three papers being ingested and is a central figure in the DSGE estimation literature. His work on indeterminacy testing (with Lubik) established the empirical basis for the pre-Volcker passive-policy finding, and his NKPC review documented the identification challenges that motivate full-system estimation approaches. Both contributions are directly relevant to the CRE project’s estimation strategy.