Central banks and other policy institutions have a long history of using macroeconomic models to help prepare forecasts and to quantify the economic consequences of various policies. Likewise, private ...

This session aimed to gain insight into the macroeconomic models and inputs used at the decision-making level. In his talk, Robert Arnold, Congressional Budget Office (CBO), echoed Stock by stressing ...

Agent-based macroeconomic modelling represents a paradigm shift from traditional aggregate frameworks by simulating economies as networks of heterogeneous decision-making units whose interactions give ...

The macro economy, like the global climate, is a complex system (highly nonlinear and buffeted by random shocks) that defies attempts to model it and predict its future path. The challenge of ...

It seems like we have a sustained tangent in the “domestic consequences” thread, about modern monetary theory (MMT) and why it is good, or bad. I contributed to the tangent, but (as I was hopefully ...

Financial crises occur out of prolonged and credit-fueled boom periods and, at times, they are initiated by relatively small shocks that can have large effects. Consistent with these empirical ...

Macroeconomic models play a crucial role in decision making and federal budget planning but may not fully account for the economic disruptions caused by extreme climate-related impacts (e.g., extreme ...