DSGE models are a prominent tool for forecasting at central banks and the competitive forecasting performance of these models relative to alternatives--including official forecasts--has been documented. When evaluating DSGE models on an absolute basis, however, we find that the benchmark...

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, New Jersey Bankers Association, May 12, 2011, Aventura, Florida

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia Society of Business Economists Annual Conference, London, England, June 9, 2011

Expectations about future inflation are generally thought to play an important role in households’ decisions about spending and saving. They are also of great interest to central bankers, who take them into account when determining policy or assessing the effectiveness of communications with...

Remarks by President Dudley at the Quarterly Regional Economic Press Briefing, New York City.

The global recession of 2008-09 led to monetary and fiscal policy responses by central banks and government authorities that were often unconventional in size and scope. A study of expansionary measures employed during the recession suggests that overall, the policies were likely effective in...

Remarks by President Dudley at the Quarterly Regional Economic Press Briefing, New York City.

Remarks at the Barclays 16th Annual Global Inflation-Linked Conference, New York City.

President Pianalto spoke of her perspective on the economy and inflation. She explained how some critical assumptions affect her economic projections and talked about the role that inflation expectations play in the current environment.