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...
Gespeichert in:
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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
no.768 |
| Schlagworte: | |
| Online-Zugang: | 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 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5kmftp85kr8p-en |
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| indexdate | 2024-07-16T15:07:16Z |
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| spelling | Hervé, Karine VerfasserIn 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 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.768 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 MitwirkendeR ctb Richardson, Pete MitwirkendeR ctb Sédillot, Franck MitwirkendeR ctb Beffy, Pierre-Olivier MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5kmftp85kr8p-en 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_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 | oecd s new global model |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5kmftp85kr8p-en |
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