The FRBNY DSGE Model Meets Julia
Marco Del Negro, Marc Giannoni, Pearl Li, Erica Moszkowski, and Micah Smith We have implemented the FRBNY DSGE model in a free and open-source language called Julia. The code is posted here on GitHub, a public repository hosting service. This effort is the result of a collaboration between New York Fed staff and folks from […]
Choosing the Right Policy in Real Time (Why That’s Not Easy)
Marco Del Negro, Raiden B. Hasegawa, and Frank Schorfheide Second in a two-part series As an economist, you make policy recommendations at any point in time that depend on what model of the economy you have in mind and on your assessment of the state of the economy. One can see these points play out […]
Combining Models for Forecasting and Policy Analysis
Model uncertainty is pervasive. Economists, bloggers, policymakers all have different views of how the world works and what economic policies would make it better.
The FRBNY DSGE Model Forecast
The U.S. economy has been in a gradual but slow recovery. Will the future be more of the same?
Developing a Narrative: The Great Recession and Its Aftermath
The severe recession experienced by the U.S. economy between December 2007 and June 2009 has given way to a disappointing recovery.
Just Released: The New York Fed Staff Forecast—May 2013
Jonathan McCarthy and Richard Peach As we did last year around this time, we’re presenting the New York Fed staff outlook for the U.S. economy to the Bank’s Economic Advisory Panel at today’s meeting. It provides an opportunity to get valuable feedback from leading economists in academia and the private sector on the staff forecast; such feedback […]