Papers presented at the conference on “Macroeconomic Models for Monetary Policy” held March 6, 2009, at the Federal Reserve Bank of San Francisco addressed such issues as how to model wage and price ...

Structural economic models, while parsimonious and interpretable, often exhibit poor data fit and limited forecasting performance. Machine learning models, by contrast, offer substantial flexibility ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

Economics is split between analysis of how the overall economy works and how single markets function Physicists look at the big world of planets, stars, galaxies, and gravity. But they also study the ...

Marx never made claims about economic theories as science. He pointed out the mechanisms of capitalism and that some of the negative effects of capitalism were inevitable due to the way capitalism ...

The Roundtable on Macroeconomics and Climate-related Risks and Opportunities will improve the understanding of how the physical and transition effects of climate change relate to and affect ...

Output per capita fell almost 10 percentage points below trend in the 2008 recession. It has since grown at less than 1.5%, and lost more ground relative to trend. Cumulative losses are many trillions ...

I n the epilogue of their blockbuster book Mostly Harmless Econometrics (2009), Josh Angrist and Steve Pischke write, “If applied econometrics were easy, theorists would do it.” As academic jokes go, ...

Discover how econometricians use math and statistics to analyze and predict economic trends, serving in finance and academia ...

Explore true cost economics, an approach that includes external costs like pollution in pricing, ensuring a more accurate ...