PWBM’s Efraim Berkovich spoke about PWBM Macroeconomics in MATLAB.

The Penn Wharton Budget Model (PWBM) is an integrated model of the U.S. economy. It consists of multiple components: a demographics microsimulation, tax modules, Social Security and other government programs, and a dynamic macro-economy model. The dynamic model computes optimal decisions by heterogeneous, rational, forward-looking agents and finds the aggregate effect on prices such that agents’ actions and prices are in equilibrium. These types of models are computationally intensive and are the workhorse models used by modern computational macro-economists. PWBM uses the dynamic model, built in MATLAB, to project the effect of policy changes on U.S. household behavior and the consequences for macro-economic variables such as GDP, interest rates, debt, and capital formation.

MATLAB Computational Finance Conference 2019 is a free one-day event for financial services professionals. The conference features real-world user examples from leading financial institutions and showcases the use of MATLAB® for portfolio and risk management, natural language processing, sentiment analysis, deep learning, artificial intelligence, machine learning, and model governance.

You can learn more about the day long conference here.