 The Istat MeMo-It Macroeconometric Model: comments and suggestions for possible extensionsRivista di statistica ufficiale, 2013, vol. 15, issue 1, 47-56 Abstract: My discussion is articulated in three main points. First, I propose to make MeMo-It the first fully open source Italian Macroeconomic Model; the enlargement of the model's users to those outside Istat would ease the interaction of ideas between researchers interested in the empirical aspects of the Italian politico-economical issues. Second, I analyze the MeMo-It structure in the light of the taxonomy of Pagan (2003). As a result, I suggest that MeMo-It modellers should improve their knowledge of MeMo-It long run properties, in order to rise its degree of coherence with the economic theory, without lowering its current degree of coherence with the data. Third, I introduce some preliminary results to extend the MeMo-It ability to give relevant policy answers: my example is about the interaction of financial markets behaviors and fiscal multipliers, and it tackles the issue of controlling the ratio of public debt on GDP in the long run. Keywords: macroeconometric models; open-source; long-run solution; financial markets; spread (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:isa:journl:v:15:y:2013:i:1:p:47-56 Access Statistics for this article More articles in Rivista di statistica ufficiale from ISTAT - Italian National Institute of Statistics - (Rome, ITALY) Contact information at EDIRC. |
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