Macro-Econometric System Modelling @ 75

Macro - Econometric System Modelling

We summarize the history of macroeconometric system modelling as having produced four generations of models. Over time the principles underlying the model designs have been extended to incorporate eight major features. Because models often evolve in response to external events we are led to ask what has happened to models used in the policy process since the financial crisis on 2008/9. We find ...

An Examination of Some Tools for Macro-Econometric Model Building

On the Relations between Econometric Sectoral and Macro Models

Lexicographic All Circuits Enumeration in Large Scale Macro-econometric Models

This contribution is deliberately application-oriented. Conversely, the considered application introduces new circumstances and helpful designs for the graph techniques and interpretations. This study seeks to improve the knowledge of the the cyclical structure of macro-econometric models. The retained application is a recent academic model from Fair ’94 for the United States. This empirical ec...

Macro-Economic Forecasting and Modelling

Confidence in macro-economic forecasting has periodically been punctured by episodes of economic turbulence and concomitant predictive failure. The poor performance in predicting the consumer boom in the late 1980’s, and the depth and duration of the recession in the 1990’s, can be viewed as merely the latest examples in a catalogue of failures, with noteworthy antecedents including the under-p...