The OECD's New Global Model:
This paper provides a summary of the OECD's new global macroeconometric model, including an overview of model structure and a selection of simulations illustrating its main properties. Compared with its predecessors, the new model is more compact and regionally aggregated, but gives more weight...
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Weitere Verfasser: | , , |
Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Paris
OECD Publishing
2010
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Schriftenreihe: | OECD Economics Department Working Papers
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Schlagworte: | |
Online-Zugang: | UBA01 UBG01 UEI01 UER01 UPA01 UBR01 UBW01 FFW01 FNU01 EUV01 FRO01 FHR01 FHN01 TUM01 FHI01 UBM01 Volltext |
Zusammenfassung: | This paper provides a summary of the OECD's new global macroeconometric model, including an overview of model structure and a selection of simulations illustrating its main properties. Compared with its predecessors, the new model is more compact and regionally aggregated, but gives more weight to the focus of policy interests in global trade and financial linkages. The country model structures typically combine short-term Keynesian-type dynamics with a consistent long-run neo-classical supply-side. While retaining a conventional treatment of international trade and payments linkages, the model has a greater degree of stock-flow consistency, with explicit modelling of domestic and international assets, liabilities and associated income streams. Account is also taken of the influence of financial and housing market developments on asset valuation and domestic expenditures via house and equity prices, interest rates and exchange rates. As a result, the model gives more prominence to wealth and wealth effects in determining longer-term outcomes and the role of asset prices in the transmission of international shocks both to goods and financial markets |
Beschreibung: | 1 Online-Ressource (36 Seiten) 21 x 29.7cm |
DOI: | 10.1787/5kmftp85kr8p-en |
Internformat
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Datensatz im Suchindex
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author | Hervé, Karine |
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spelling | Hervé, Karine Verfasser aut The OECD's New Global Model Karine Hervé ... [et al] = Le nouveau modèle global de l'OCDE / Karine Hervé ... [et al] Le nouveau modèle global de l'OCDE Paris OECD Publishing 2010 1 Online-Ressource (36 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper provides a summary of the OECD's new global macroeconometric model, including an overview of model structure and a selection of simulations illustrating its main properties. Compared with its predecessors, the new model is more compact and regionally aggregated, but gives more weight to the focus of policy interests in global trade and financial linkages. The country model structures typically combine short-term Keynesian-type dynamics with a consistent long-run neo-classical supply-side. While retaining a conventional treatment of international trade and payments linkages, the model has a greater degree of stock-flow consistency, with explicit modelling of domestic and international assets, liabilities and associated income streams. Account is also taken of the influence of financial and housing market developments on asset valuation and domestic expenditures via house and equity prices, interest rates and exchange rates. As a result, the model gives more prominence to wealth and wealth effects in determining longer-term outcomes and the role of asset prices in the transmission of international shocks both to goods and financial markets Economics Pain, Nigel ctb Richardson, Pete ctb Sédillot, Franck ctb https://doi.org/10.1787/5kmftp85kr8p-en Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Hervé, Karine The OECD's New Global Model Economics |
title | The OECD's New Global Model |
title_alt | Le nouveau modèle global de l'OCDE |
title_auth | The OECD's New Global Model |
title_exact_search | The OECD's New Global Model |
title_exact_search_txtP | The OECD's New Global Model |
title_full | The OECD's New Global Model Karine Hervé ... [et al] = Le nouveau modèle global de l'OCDE / Karine Hervé ... [et al] |
title_fullStr | The OECD's New Global Model Karine Hervé ... [et al] = Le nouveau modèle global de l'OCDE / Karine Hervé ... [et al] |
title_full_unstemmed | The OECD's New Global Model Karine Hervé ... [et al] = Le nouveau modèle global de l'OCDE / Karine Hervé ... [et al] |
title_short | The OECD's New Global Model |
title_sort | the oecd s new global model |
topic | Economics |
topic_facet | Economics |
url | https://doi.org/10.1787/5kmftp85kr8p-en |
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