Forecasting with the FRBNY DSGE Model

De Paoli, Bianca; Del Negro, Marco; Eusepi, Stefano; Giannoni, Marc; Sbordone, Argia M.; Tambalotti, Andrea

Discussion Paper

Forecasting with the FRBNY DSGE Model

Abstract: The Federal Reserve Bank of New York (FRBNY) has built a DSGE model as part of its efforts to forecast the U.S. economy. On Liberty Street Economics, we are publishing a weeklong series to provide some background on the model and its use for policy analysis and forecasting, as well as its forecasting performance. In this post, we briefly discuss what DSGE models are, explain their usefulness as a forecasting tool, and preview the forthcoming pieces in this series.

Keywords: DSGE Models; Forecasting;

JEL Classification: E2;E5;