Meet the Researchers
Edward P. Herbst
202-452-3369
[email protected]
[email protected]
Education
- Ph.D., Economics, University of Pennsylvania, 2011
- B.A., Mathematics & Economics, Rutgers University, 2006
Current Research Topics
- Estimation of Dynamic Models
- Density Forecast Evaluation
Principal Economist
Board of Governors of the Federal Reserve System
2016 - presentSenior Economist
Board of Governors of the Federal Reserve System
2015 - 2016Economist
Board of Governors of the Federal Reserve System
2011 - 2015
- Inflation Expectations with Finite Horizon Planning
Christopher Gust, Edward Herbst, and David Lopez-Salido
Finance and Economics Discussion Series (2024)
https://doi.org/10.17016/FEDS.2024.063 - Bias in local projections
Edward P. Herbst and Benjamin K. Johannsen
Journal of Econometrics (2024)
https://doi.org/10.1016/j.jeconom.2024.105655
See also » FRB Working Paper (2021) - Short-Term Planning, Monetary Policy, and Macroeconomic Persistence
Christopher Gust, Edward Herbst, and David López-Salido
American Economic Journal: Macroeconomics (2022)
https://doi.org/10.1257/mac.20200058
See also » FRB Working Paper (2020) - The Factor Structure of Disagreement
Edward Herbst and Fabian Winkler
Finance and Economics Discussion Series (2021)
https://doi.org/10.17016/FEDS.2021.046 - Bias in Local Projections
Edward P. Herbst and Benjamin K. Johannsen
Finance and Economics Discussion Series (2021)
https://doi.org/10.17016/FEDS.2020.010r1 - Online Estimation of DSGE Models
Michael Cai, Marco Del Negro, Edward Herbst, Ethan Matlin, Reca Sarfati, and Frank Schorfheide
Econometrics Journal (2021)
https://doi.org/10.1093/ectj/utaa029
See also » FRB Working Paper (2020) - How Robust Are Makeup Strategies to Key Alternative Assumptions?
James Hebden, Edward P. Herbst, Jenny Tang, Giorgio Topa, and Fabian Winkler
Finance and Economics Discussion Series (2020)
https://doi.org/10.17016/FEDS.2020.069 - Short-term Planning, Monetary Policy, and Macroeconomic Persistence
Christopher Gust, Edward Herbst, and David López-Salido
Finance and Economics Discussion Series (2020)
https://doi.org/10.17016/FEDS.2020.003 - Monetary Policy, Real Activity, and Credit Spreads: Evidence from Bayesian Proxy SVARs
Dario Caldara and Edward Herbst
American Economic Journal: Macroeconomics (2019)
https://doi.org/10.1257/mac.20170294
See also » FRB Working Paper (2016) - Tempered Particle Filtering
Edward Herbst and Frank Schorfheide
Journal of Econometrics (2019)
https://doi.org/10.1016/j.jeconom.2018.11.003
See also » FRB Working Paper (2016) - Forward Guidance with Bayesian Learning and Estimation
Christopher Gust, Edward Herbst, and David López-Salido
Finance and Economics Discussion Series (2018)
https://doi.org/10.17016/FEDS.2018.072 - A Sequential Monte Carlo Approach to Inference in Multiple-Equation Markov-Switching Models
Mark Bognanni and Edward Herbst
Journal of Applied Econometrics (2018)
https://doi.org/10.1002/jae.2582 - The Empirical Implications of the Interest-Rate Lower Bound
Christopher Gust, Edward Herbst, David López-Salido, and Matthew E. Smith
American Economic Review (2017)
https://doi.org/10.1257/aer.20121437
See also » FRB Working Paper (2017) - Tempered Particle Filtering
Edward Herbst and Frank Schorfheide
NBER Working Paper Series (2017)
https://doi.org/10.3386/w23448
See also » FRB Working Paper (2016) - Bayesian Estimation of DSGE Models
Edward P. Herbst and Frank Schorfheide
Princeton University Press (2016) - Effective Monetary Policy Strategies in New Keynesian Models: A Reexamination
Hess Chung, Edward Herbst, and Michael T. Kiley
NBER Macroeconomics Annual Book Series (2015)
https://doi.org/10.1086/680629 - Using the 'Chandrasekhar Recursions' for Likelihood Evaluation of DSGE Models
Edward Herbst
Computational Economics (2015)
https://doi.org/10.1007/s10614-014-9430-2
See also » FRB Working Paper (2012) - Sequential Monte Carlo Sampling for DSGE Models
Edward Herbst and Frank Schorfheide
Journal of Applied Econometrics (2014)
https://doi.org/10.1002/jae.2397
See also » FRB Working Paper (2013) - Estimating (Markov-Switching) VAR Models without Gibbs Sampling: A Sequential Monte Carlo Approach
Mark Bognanni and Edward Herbst
Working Paper (Federal Reserve Bank of Cleveland) (2014)
See also » FRB Working Paper (2015) - Evaluating DSGE Model Forecasts of Comovements
Edward Herbst and Frank Schorfheide
Journal of Econometrics (2012)
https://doi.org/10.1016/j.jeconom.2012.06.008
See also » FRB Working Paper (2012) - Sequential Monte Carlo sampling for DSGE models
Edward Herbst and Frank Schorfheide
Working paper (Federal Reserve Bank of Philadelphia) (2012)
See also » FRB Working Paper (2013) - Essays on Bayesian Macroeconometrics
Edward P. Herbst
University of Pennsylvania (2011) - Evaluating DSGE model forecasts of comovements
Edward Herbst and Frank Schorfheide
Working paper (Federal Reserve Bank of Philadelphia) (2011)
See also » FRB Working Paper (2012)
discussion
October 2011NBER/Federal Reserve Bank of Philadelphia Workshop on DSGE Models
Discussion of Smith: Estimating Nonlinear Economic Models Using Surrogate Transitions
conference
June 2011Canadian Economic Association Annual Meeting
Evaluating Predictions of Comovements
conference
April 2011Society for Bayesian Inference in Econometrics and Statistics 2011 Meeting
Gradient and Hessian-based MCMC for Macro Models
seminar
January 2011Board of Governors of the Federal Reserve System
Gradient and Hessian-based MCMC for Macro Models
Referee
- International Economic Review
- International Journal of Forecasting
- Journal of Money, Credit, and Banking
- Review of Economics and Statistics
Professional Affiliation
- American Economic Association
- International Society for Bayesian Analysis
Last Update:
September 3, 2024