Building the core of the Istat system of models for forecasting the Italian economy: MeMo-It

Fabio Bacchini, Cristina Brandimarte (), Piero Crivelli (), Roberta de Santis (), Marco Fioramanti, Alessandro Girardi, Roberto Golinelli, Cecilia Jona-Lasinio, Massimo Mancini, Carmine Pappalardo (), Daniela Rossi (), Marco Ventura and Claudio Vicarelli
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Cristina Brandimarte: Istat, Econometric Studies and Economic Forecasting Division
Piero Crivelli: Istat, Econometric Studies and Economic Forecasting Division
Carmine Pappalardo: Istat, Econometric Studies and Economic Forecasting Division
Daniela Rossi: Istat, Econometric Studies and Economic Forecasting Division

Rivista di statistica ufficiale, 2013, vol. 15, issue 1, 17-45

Abstract: This paper provides a description of Istat’s new Macroeconometric Model MeMo-It. This is the tool used by Istat to produce bi-annual medium-term forecasts of the Italian economy since May 2012. The key model’s features are illustrated and compared with other modeling approaches used in the literature. The paper describes the theoretical foundations of the model along with the set of equations and their estimation. It also presents an assessment of model’s performance by focusing on the key multipliers

Keywords: macroeconometric models; econometric forecasts; theory-first vs data-first models; model specification; fiscal policy multipliers (search for similar items in EconPapers)
JEL-codes: C32 C51 C52 E60 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:isa:journl:v:15:y:2013:i:1:p:17-45

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