Cool, despite Julia replacing matlab here, it looks like the biggest loser to Julia&#x27;s rise might be Octave.<p>Matlab will always have its proponents, that will use it no matter what, but if Julia keeps encroaching on this territory, I&#x27;m not sure where that leaves Ocatve.<p>To the model discussed in this paper, check out this series of blog posts for more information:<p><a href="http:&#x2F;&#x2F;libertystreeteconomics.newyorkfed.org&#x2F;2014&#x2F;09&#x2F;forecasting-with-the-frbny-dsge-model.html#.VRnNb1bdIeE" rel="nofollow">http:&#x2F;&#x2F;libertystreeteconomics.newyorkfed.org&#x2F;2014&#x2F;09&#x2F;forecas...</a><p>Essentially the model is a work in progress that is continually updated each quarter.  It attempts to model at a macro economic level, the interactions between Banks, consumers, Companies, Governments and households.<p>Once the model has solved for the general equilibrium of how those 5 agencies interact the model can then be used to &quot;shock&quot; a particular factor, such as interest rates, to determine how this might affect the interaction between these agents.<p>Its a fairly well respected model, and the fact that the US is one of the few countries to release such a large amount of financial data is one reason why the US is still a leader in economic theory.