Modelling the Supply Side of the Seven Major OECD Economies [electronic resource] / Dave Turner, Pete Richardson and Sylvie Rauffet.
- Paris : OECD Publishing, 1996.
- OECD Economics Department Working Papers 18151973 ; no.167.
OECD Economics Department Working Papers 18151973 ; no.167
- Government document
1 online resource (44 pages)
- If a macroeconometric model is to be useful for policy analyses which go beyond short-term forecasting requirements, particular attention must be paid to the form and consistency of its various components with respect to longer-term equilibria. In particular, long-run properties and ultimate stability of such models with respect to output, employment and inflation depend crucially on the consistency and form of the supply-side specification. This paper presents recent work by the OECD contributing to its INTERLINK world model. It focuses on the specification and estimation of the supply-side aspects of the sub-models for the seven major OECD Member countries. It presents a general analytical framework for the specification of a consistent model of business sector behaviour within a dynamic form which meets both short-term forecasting and longer-term theoretical requirements. Comparative estimation results are reported for individual economies along with simulation results for a ...
- Title from title screen (viewed May 1, 2017).
- Richardson, Pete.
SourceOECD (Online Service)
- Access Restriction:
- Restricted for use by site license.
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