I read the following from a book that suggest that optimal policy in DSGE models depends on the structure of the economy, for example, parameterization of the model. So I guess we can’t generalize results like Gali’s chapter 8. OR it depends?
“In characterizing optimal policy as a function of the structure of the economy (the source of shocks, the values of structural parameter, etc.) we are aiming at providing our readers a mapping showing the specification of optimal policy appropriate for each economic structure. Did we really believe that a similar kind of policy would be optimum for a variety of widely different economies and for any conceivable policy environment?”