Dick also played a crucial role in advancing a set of internal projects to produce operational procedures for the estimation and simulation of large-scale rational expectations models - tools that facilitated later model development work at the Board and elsewhere.
Although Dale never directly oversaw the large modeling efforts in the International Finance Division, he has played a key role in the Division’s efforts through the years. Dale made several contributions to the basic economics of the Multi-Country Model, and one of his models was used to set forth the MCM’s properties.