Central Bank API Reference

This section documents the Central Bank agent in the macromodel package, which is responsible for monetary policy, interest rate setting, and macroeconomic stabilization.

macromodel.agents.central_bank.central_bank.CentralBank

Central Bank agent responsible for monetary policy.

This class implements central bank operations including: - Policy rate setting - Inflation targeting - Growth considerations - Monetary policy rules

The agent manages monetary policy through: - Interest rate adjustments - Inflation target maintenance - Economic growth monitoring - Policy rule implementation

Attributes:

Name	Type	Description
functions	dict[str, Any]	Mapping of function names to implementations
states	dict[str, float | ndarray]	State variables including: - targeted_inflation_rate: Target inflation level - rho: Interest rate smoothing parameter - r_star: Natural real interest rate - xi_pi: Inflation gap response coefficient - xi_gamma: Output growth response coefficient
ts	TimeSeries	Time series data for central bank variables

from_pickled_agent(synthetic_central_bank: SyntheticCentralBank, configuration: CentralBankConfiguration, country_name: str, all_country_names: list[str], n_industries: int) -> CentralBank classmethod

Create a Central Bank instance from pickled data.

Initializes the bank with: - Policy parameters from synthetic data - Configuration settings - Country-specific information - Initial state variables

Parameters:

Name	Type	Description	Default
synthetic_central_bank	SyntheticCentralBank	Synthetic data containing policy parameters and initial states	required
configuration	CentralBankConfiguration	Configuration parameters for bank operations	required
country_name	str	Name of the country this bank serves	required
all_country_names	list[str]	List of all countries	required
n_industries	int	Number of industries	required

Returns:

Name	Type	Description
CentralBank	CentralBank	Initialized central bank agent

reset(configuration: CentralBankConfiguration) -> None

Reset the central bank agent to initial state.

Resets all state variables and updates function implementations based on the provided configuration.

Parameters:

Name	Type	Description	Default
configuration	CentralBankConfiguration	New configuration parameters for the reset state	required

compute_rate(inflation: float, growth: float) -> float

Calculate the policy interest rate.

Determines appropriate policy rate based on: - Current inflation relative to target - Economic growth rate - Previous policy rate - Monetary policy rule parameters

Parameters:

Name	Type	Description	Default
inflation	float	Current inflation rate	required
growth	float	Current economic growth rate	required

Returns:

Name	Type	Description
float	float	New policy interest rate

save_to_h5(group: h5py.Group)

Save central bank data to HDF5 format.

Stores all time series data in the specified HDF5 group.

Parameters:

Name	Type	Description	Default
group	Group	HDF5 group to save data in	required

Functions

Policy Rate Determination

macromodel.agents.central_bank.func.policy_rate.PolicyRate

Abstract base class for determining policy interest rates.

This class defines strategies for setting monetary policy rates based on: - Inflation developments - Economic growth - Policy objectives - Previous rate levels

The rate setting process considers: - Price stability targets - Economic growth goals - Policy transmission lags - Financial stability