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Leonardo Melosi

Senior Economist and Economic Advisor · Federal Reserve Bank of Chicago

Senior economist and economic advisor at the Federal Reserve Bank of Chicago and executive director of its Center for Applied Macroeconomic Research. His research covers monetary and fiscal policy, inflation dynamics and labor market economics.

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Published Classic Online 14 Jun 2022

Estimating Nonlinear Heterogeneous Agents Models with Neural Networks

Hanno Kase · Leonardo Melosi · Matthias Rottner

By treating a nonlinear model's own parameters as extra "pseudo state variables" that a neural network learns to solve for across the entire parameter space at once, and by training a second network …

Heterogeneous Agent Macro Effective Lower Bound Business Cycles Free Read ↗