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Recent Developments in the Institute's Domestic Macromodel

Published online by Cambridge University Press:  26 March 2020

Simon Wren-Lewis
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Extract

The forecast published in this Review uses the latest vintage of the Institute's domestic econometric model, version 11.4. In comparison with the model described a year ago (Model 11.1, see Wren-Lewis, (1988)) some of the main developments are:

1) The key price and wage equations are both forward looking, and are based on explicit dynamic theories of adjustment. This is perhaps the first time that a large quarterly econometric model has attempted to identify the structural characteristics of nominal inertia in the UK.

Type
Articles
Information
National Institute Economic Review , Volume 130 , November 1989 , pp. 47 - 51
Copyright
Copyright © 1989 National Institute of Economic and Social Research

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References

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