Macro-Econometric System Modelling @ 75

CAMA Working Paper 67/2013

42 Pages Posted: 11 Oct 2013

See all articles by Tony Hall

Tony Hall

Jan P. A. M. Jacobs

University of Groningen - Faculty of Economics and Business

Adrian Pagan

University of Sydney; University of Sydney

Date Written: October 1, 2013

Abstract

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 that models have become smaller but that there is still no standard way of capturing the effects of such a crisis.

Suggested Citation

Hall, Anthony D and Jacobs, Jan P.A.M. and Pagan, Adrian, Macro-Econometric System Modelling @ 75 (October 1, 2013). CAMA Working Paper 67/2013. Available at SSRN: https://ssrn.com/abstract=2338276 or http://dx.doi.org/10.2139/ssrn.2338276

Jan P.A.M. Jacobs (Contact Author)

University of Groningen - Faculty of Economics and Business ( email )

Postbus 72
9700 AB Groningen
Netherlands

Adrian Pagan

University of Sydney ( email )

Rm 370 Merewether (H04)
Sydney, NSW 2006 2008
Australia

University of Sydney ( email )

Rm 370 Merewether (H04)
Sydney, NSW 2006 2008
Australia

No contact information is available for Anthony D Hall

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