Macroeconomic models, forecasting, and policymaking

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.

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Year of publication:	2011
Authors:	Pescatori, Andrea ; Zaman, Saeed
Published in:	Economic Commentary. - Federal Reserve Bank of Cleveland. - 2011, Oct, 19
Publisher:	Federal Reserve Bank of Cleveland
Subject:	Forecasting \| Macroeconomics

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

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