Erceg, Christopher J.; Guerrieri, Luca; Gust, Christopher - Federal Reserve Board (Board of Governors of the … - 2006
In this paper, we describe a new multi-country open economy SDGE model named "SIGMA" that we have developed as a quantitative tool for policy analysis. We compare SIGMA's implications to those of an estimated large-scale econometric policy model (the FRB/Global model) for an array of shocks that...