The FRB/US Model: A Tool for Macroeconomic Policy Analysis, Flint Brayton, Thomas Laubach, and David Reifschneider

“The FRB/US model of the U.S. economy is one of several that Federal Reserve Board staff consults for forecasting and the analysis of macroeconomic issues, including both monetary and fiscal policy. To improve public access to and understanding of the model, a new page has been introduced on the Federal Reserve Board’s website from which interested users can download expanded FRB/US documentation; model equations, coefficients, and data; and sample simulation programs. These simulation programs can be run by anyone with access to the EViews software package, a widely available commercial product. This note provides a brief summary of the main features of the model, illustrates some applications of the model using sample programs provided on the web page, and concludes with an overview of the contents of the web page. Because the model continues to undergo changes as both economic theory and empirical evidence evolve, any given model release reflects only the state of thinking at the time of the release.”