Eric Till Email & Phone Number

Washington, DC, US

Washington DC-Baltimore Area

• US central bank leading 12 district banks to execute monetary policy to grow employment, stabilize prices and interest rates.
• Manage the premier large-scale estimated general equilibrium model of the Federal Reserve (FRB/US), which is used to forecast and analyze the U.S. economy using MATLAB, Python and EViews.
• The public version of FRB/US has 370 variables, 285 standard equations, and supports forming expectations based on previous data as well as model consistent expectations, which rely on the projected future values of.
• Perform quantitative stochastic simulations that model a detailed U.S. economy to assess future outcomes and risks.
• Apply numerical optimization methods to solve models capturing complex patterns and relationships in historical data.
• Codesigned block-newton nonlinear equation solver for the publicly available Python version of FRB/US.

Washington DC-Baltimore Area

• Lead macroeconomic and quantitative programming for 3 of 8 Federal Open Market Committee (FOMC) meetings per year.
• Generate forecasts, stochastic simulations, and alternative forecasts under differing conditioning assumptions and associated tables, graphs, and briefing materials for the Board of Governors.
• Adapt quickly to changing circumstances and troubleshoot problems in a high-intensity, time-sensitive environment where accuracy, timeliness, and quality assurance are of utmost importance.

Washington DC-Baltimore Area

• The Federal Reserve's $8.4 trillion balance sheet consists primarily of government securities it has bought and its liabilities, including bank and Treasury reserve balances on deposit with the Federal Reserve and U.S..
• Despite the importance and prominence of the Federal Reserve's balance sheet policy, there was no existing method of integrating the balance sheet's macroeconomic effects with the FRB/US model.
• Led the initiative to tackle this difficult and complex problem using novel solution methods and collaboration with a team of 8 economists and programmers.
• Designed and implemented custom algorithm for embedding endogenous nonlinear balance sheet policy within FRB/US.
• Optimized code and algorithm to make large-scale stochastic simulations possible in a performant manner, drastically increasing efficiency and enabling more ambitious experimentation.

Washington DC-Baltimore Area

• Dynamic Stochastic General Equilibrium models are a type of macroeconomic state space model in which all parameters are estimated simultaneously using Bayesian Statistics and Markov Chain Monte Carlo methods.
• Employ novel algorithms to impose nonlinear constraints on linearized DSGE models to simulate economic concepts such as Forward Guidance and the Effective Lower Bound.
• Develop and maintain a suite of DSGE models and accompanying documentation to provide a flexible set of tools for economists.
• Make use of Kalman Filters to estimate latent variables based on model structure and observed data or to impose certain conditions to create alternative forecasts.

Washington DC-Baltimore Area

• Create graphs and tables for Federal Open Market Committee (FOMC) meetings, economic research, troubleshooting or general data analysis using R and MATLAB.

Washington DC-Baltimore Area

• Build and maintain interactive JavaScript applications for viewing model metadata.
• Build and maintain legacy web-based Perl Graphical User Interfaces for control panels and data visualization programs.
• Use MySQL and PHP for surveys and other ad hoc projects.

Washington DC-Baltimore Area

• Manage Windows and Linux operating systems via command line for 10+ years, Bash scripting, Git repositories, and implement complex permission structures for confidential materials.