Why is the tax system modeled in such a simple way?
Bad answer 1: It is not possible to solve models with a less aggregated tax system.
Bad answer 2: It is not possible to get the data to calibrate a less aggregated tax system.
Bad answer 3: It does not matter
Why is the time period three months?
Bad answer 1: It is not possible to solve models with shorter time periods.
Bad answer 2: The data is quarterly
Bad answer 3: It does not matter
Why does the model go out only for four years?
The US lives in a highly connected world economy. Why does FRB/US not also model other major economic actors, such as the EU, Japan, and China?