A Bird's Eye View of the FRBNY DSGE Model

Bianca De Paoli (), Argia Sbordone and Andrea Tambalotti

No 20140923, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Dynamic stochastic general equilibrium (DSGE) models provide a stylized representation of reality. As such, they do not attempt to model all the myriad relationships that characterize economies, focusing instead on the key interactions among critical economic actors. In this post, we discuss which of these interactions are captured by the FRBNY model and describe how we quantify them using macroeconomic data. For more curious readers, this New York Fed working paper provides much greater detail on these and other aspects of the model.

Keywords: financial frictions; DSGE models (search for similar items in EconPapers)
JEL-codes: E2 E5 (search for similar items in EconPapers)
Date: 2014-09-23
New Economics Papers: this item is included in nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fednls:86976

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