Hess T. Chung, Michael T. Kiley, and Jean-Philippe Laforte
Abstract: This paper provides documentation for a large-scale estimated DSGE model of the U.S. economy--the Federal Reserve Board's Estimated, Dynamic, Optimization-based (FRB/EDO) model project. The model can be used to address a wide range of practical policy questions on a routine basis. The paper discusses the model's specification, estimated parameters, and key properties.
Keywords: DSGE model, policy modelFull paper (563 KB PDF) | Full paper (Screen Reader Version)