“I’d Rather Have Bob Solow Than an Econometric Model, but …”  Remarks by  Vice Chairman Stanley Fischer Board of Governors of the Federal Reserve System at the Warwick Economics Summit February 11, 2017  Figure 1: The Federal Reserve System  Source: Board of Governors of the Federal Reserve System (2005), The Federal Reserve System: Purposes and Functions, 9th ed.
(Washington: Board of Governors). Figure 2: Policy Rules and Economic Outcomes – Extracted from April 2011 Tealbook Part B  Note: “April TB baseline” refers to the baseline forecast in the April 2011 Tealbook; “Taylor 1993” refers to the Taylor (1993) policy rule; “Taylor 1999” refers to the Taylor (1999) Policy rule; and “First difference” refers to the first‐difference rule.