Erceg, Christopher J.; Guerrieri, Luca; Gust, Christopher - In: International Journal of Central Banking 2 (2006) 1
In this paper, we describe a new multicountry 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...