MWIP is innovative and impressive. In almost every analysis, it uses a small DSGE model, with variations in assumptions to deal with the topic in hand.
Here follows a typical three equation model, consisting of log-linear approximations of the non-linear equilibrium conditions of an underlying model that includes an intertemporal Euler equation, a New Keynesian Phillips curve, and an interest rate rule.12  6  BIS central bankers’ speeches  where  3. Analyzing Monetary Policy without Money.