AEA Papers and Proceedings
ISSN 2574-0768 (Print) | ISSN 2574-0776 (Online)
The NY Fed DSGE Model: A Post-COVID Assessment
AEA Papers and Proceedings
vol. 114,
May 2024
(pp. 95–100)
Abstract
We document the real-time forecasting performance for output and inflation of the New York Fed dynamic stochastic general equilibrium (DSGE) model since 2011. We find the DSGE's accuracy to be comparable to that of private forecasters before COVID but somewhat worse thereafter.Citation
Del Negro, Marco, Keshav Dogra, Aidan Gleich, Pranay Gundam, Donggyu Lee, Ramya Nallamotu, and Brian Pacula. 2024. "The NY Fed DSGE Model: A Post-COVID Assessment." AEA Papers and Proceedings, 114: 95–100. DOI: 10.1257/pandp.20241053Additional Materials
JEL Classification
- E12 General Aggregative Models: Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
- E23 Macroeconomics: Production
- E27 Macroeconomics: Consumption, Saving, Production, Employment, and Investment: Forecasting and Simulation: Models and Applications
- E31 Price Level; Inflation; Deflation
- E37 Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
- E58 Central Banks and Their Policies