Optimization using data from complex simulations has become an attractive decision-
making option, due to ability to embed high-fidelity, non-linear understanding of processes …

We study a business cycle model of the international monetary system featuring a time-
varying demand for safe dollar bonds, greater risk-bearing capacity in the United States than …

This chapter provides an overview of solution and estimation techniques for dynamic
stochastic general equilibrium models. We cover the foundations of numerical …

Using error‐free data on life‐cycle portfolio allocations of a large sample of Norwegian
households, we document a double adjustment as households age: a rebalancing of the …

We study the transmission of monetary policy through risk premia in a heterogeneous agent
New Keynesian environment. Heterogeneity in households' marginal propensity to take risk …

Uncertainty is critical to questions about climate change policy. Recently developed
recursive integrated assessment models have become the primary tools for studying and …

Macroeconomics at the intermediate and graduate levels rests on three workhorses: the
Solow-Swan model, the overlapping generations (OLG) model, and the Ramsey model. The …

Epidemiological modelling has assisted in identifying interventions that reduce the impact of
COVID-19. The UK government relied, in part, on the CovidSim model to guide its policy to …

Using Bayesian methods, we estimate a nonlinear DSGE model in which the interest-rate
lower bound is occasionally binding. We quantify the size and nature of disturbances that …

This paper investigates the role of self-fulfilling expectations in sovereign bond markets. We
consider a model of sovereign borrowing featuring endogenous debt maturity, risk-averse …