December 22, 2021

Saffier 3.0: Technical Background

This paper documents the Saffier 3.0 model that is used for making macroeconomic projections and assessing the responses to fiscal policy changes in the short and medium run. This dual purpose of the model brings with it particular desirable characteristics and limitations.
Photo of an abacus and the code of the model

The model is a new exponent of a long tradition of CPB-models, that replaces the 2.1 version. Recent economic insights and developments have been incorporated in the new version. The model structure builds on state-of-the-art models, in particular the FRB/US model developed at the Federal Reserve Board and the ECB-BASE model of the European Central Bank. 

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