The Simulation Procedure: The Algorithm, the Target Variables and the Stability of the Model

Barbara Chizzolini () and Ugo Fratesi
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Barbara Chizzolini: Bocconi University

Chapter 7 in Modelling Regional Scenarios for the Enlarged Europe, 2008, pp 123-152 from Springer

Abstract: Abstract The previous two chapters have illustrated the theoretical underpinnings of MASST (Chap. 5) and presented the econometric components of the model (Chap. 6). The MASST model, however, also comprises an intrinsic simulative component which is a necessary part of it. The first aim of this chapter is hence to explain technically how all the assumed and estimated causality links among the relevant variables and between national and regional economies work, and how one can obtain predicted values of both national and regional income and population growth from MASST.

Keywords: Foreign Direct Investment; Simulation Procedure; Policy Variable; Nominal Interest Rate; Forecast Horizon (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-3-540-74737-6_8

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