A New Procedure for Generating the Stochastic Simulations in FRB/US

Manuel González-Astudillo and Diego Vilán
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Diego Vilán: https://www.federalreserve.gov/econres/diego-vilan.htm
Authors registered in the RePEc Author Service: Diego Vilán

No 2019-03-07, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This note summarizes a new procedure for generating stochastic simulations in FRB/US, a large-scale estimated general equilibrium macroeconomic model of the U.S. economy, which has been in use at the Federal Reserve Board since 1996. In the first part of this note, we contrast some features of the original stochastic simulations procedure with those of the data. In the second part, we offer an alternative to the original procedure that fits the data better along core dimensions of interest.

Date: 2019-03-07
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2019-03-07

DOI: 10.17016/2380-7172.2314

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