Applied Macroeconomics
& Econometrics Center (AMEC)

  Developing models and tools for macroeconomic analysis and forecasting.

The mission of the Applied Macroeconomics and Econometrics Center (AMEC) is to provide intellectual leadership in the central banking community in the fields of macro and applied econometrics, building on the extensive work carried out by the New York Fed’s Research Group in these areas. Its goal is to promote, collect and disseminate new research focused on the development of macroeconomic models and econometric tools to inform and support the monetary policy evaluation process. Examples of this work are the New York Fed DSGE model, which is a micro-founded model of the U.S. economy used for forecasting and policy analysis; the New York Fed Staff Nowcast, which is a tool for monitoring U.S. economic activity in a timely manner; and the Multivariate Core Trend Inflation (MCT), which tracks developments in U.S. inflation.

In addition to these products, the work of AMEC economists includes studies of inequality and its implications for monetary/fiscal policy and macroeconomic dynamics, financial stability, the labor and housing markets, the international economy, climate change, understanding expectations formation, term structure models, as well as measures of important gauges for monetary policy, such as the natural rates of interest r* and unemployment u*. It also covers related time series and panel data models.

AMEC’s work will contribute directly and extensively to the advisory activities related to near- and medium-term forecasts, outlook analysis, and monetary policy design at the New York Fed, the Federal Reserve System, and the international central banking community. AMEC will also have an Advisory Board composed of academics whose role is to provide advice and direction on the most promising avenues of inquiry. This website will serve as a resource for those interested in the New York Fed’s macroeconomic products.

Read this Liberty Street Economics Q&A to find out more about AMEC’s goals and products.


The work of AMEC is supported by external advisors who are leaders in the field of economics.

Serena Ng
Columbia University

Christopher A. Sims
Princeton University

Hélène Rey
London Business School

Gianluca Violante
Princeton University

Stephanie Schmitt-Grohé
Columbia University

Michael Woodford
Columbia University

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