A guide to FRB/US: a macroeconomic model of the United States

@article{Brayton1996AGT,
  title={A guide to FRB/US: a macroeconomic model of the United States},
  author={Flint Brayton and Peter A. Tinsley and Peter A. Tinsley},
  journal={Social Science Research Network},
  year={1996},
  volume={1996},
  pages={1-45}
}
FRB/US is a large-scale quarterly econometric model of the U.S. economy, developed to replace the MPS model. Most behavioral equations are based on specifications of optimizing behavior containing explicit expectations of firms, households, and financial markets. Although expectations are explicit, the empirical fits of the structural descriptions of macroeconomic behavior are comparable to those of reduced-form time series models. In most instances, tests do not reject overidentifying… 
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