A DSGE Model Including Trend Information and Regime Switching at the ZLB-Reference-Cited by-同舟云学术

A DSGE Model Including Trend Information and Regime Switching at the ZLB

Published:2023-12-27 Issue: Volume: Page:
ISSN:2573-7953
Container-title:Working paper (Federal Reserve Bank of Cleveland)
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Author:

Gelain Paolo¹^ORCID,Lopez Pierlauro¹^ORCID

Affiliation:

1. Federal Reserve Bank of Cleveland

Abstract

This paper outlines the dynamic stochastic general equilibrium (DSGE) model developed at the Federal Reserve Bank of Cleveland as part of the suite of models used for forecasting and policy analysis by Cleveland Fed researchers, which we have nicknamed CLEMENTINE (CLeveland Equilibrium ModEl iNcluding Trend INformation and the Effective lower bound). This document adopts a practitioner's guide approach, detailing the construction of the model and offering practical guidance on its use as a policy tool designed to support decision-making through forecasting exercises and policy counterfactuals.

Publisher

Federal Reserve Bank of Cleveland

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