Inforum-IIASA System of National Economic Models

Nyhus, D. (1980). Inforum-IIASA System of National Economic Models. IFAC Proceedings Volumes 13 (5) 123-128. 10.1016/S1474-6670(17)64863-8.

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This paper presents a system of models being developed, under the leadership of the University of Maryland and IIASA, by a growing group of model builders who demand that their models be consistent and detailed on a national basis and also consistent with a global economic picture. To accomplish such a heroic task requires that the models: (1) emphasize foreign trade; (2) be similar in a way that they handle data (both into and out of the model); and (3) be flexible in their internal structure. The national models are dynamic input-output models. This, however, is probably an understatement. Many of the models possess sopisticated relationships explaining consumer and investor behavior. Import substitution behaviour is explicitly shown. Changes in input-output coefficients are related to prices or to ongoing non price structural change. Furthermore, the national models are quite capable of being used for policy analyses in and of themselves. A trade model, relating trade for 119 commodities covering all merchandise trade connects the system through bilateral trade flows

Item Type: Article
Uncontrolled Keywords: Economics; Modelling; Input-Output; International Trade
Depositing User: Luke Kirwan
Date Deposited: 04 Jul 2017 11:30
Last Modified: 27 Aug 2021 17:41

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