Journal Article
Macroeconomic models, forecasting, and policymaking
Abstract: Models of the macroeconomy have gotten quite sophisticated, thanks to decades of development and advances in computing power. Such models have also become indispensable tools for monetary policymakers, useful both for forecasting and comparing different policy options. Their failure to predict the recent financial crisis does not negate their use, it only points to some areas that can be improved.
Keywords: Macroeconomics; Forecasting;
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https://doi.org/10.26509/frbc-ec-201119
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2011
Issue: Oct
Order Number: 19