I can’t tell you how  BIS Review 19/2004  1  many hours Jerry Enzler and I spent feeding in our regression cards, and our simulation cards, to work on this issue. Yes, we fed in punch cards in those days.
Nowadays when Board economists present the results of dynamic simulations in briefings, and the simulations look very reasonable, I think I am one of the few people in the room who is deeply impressed. Doctrinal historians will have fun with the naming of this model. Whenever Board people wrote about it, it was the Fed-MIT model, or perhaps the Fed-MIT-Penn model.