Outline of the Core Model

Lawrence Klein, Kanta Marwah, Shinichi Ichimura, Soshichi Kinoshita and Mitsuo Yamada

Chapter 2 in Klein's Last Quarterly Econometric Model of the United States:Wharton Quarterly Econometric Model: Mark 10, 2018, pp 7-12 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The core model of WEFA Mark 10 in this book constructs the US Economy model by subdividing the whole system into the following 10 different sectors plus one miscellaneous sector: (1) Final demand, (2) Income determination, (3) Labor market, (4) Price and costs, (5) Government revenue and expenditure, (6) Production and sectoral demand, (7) Population and demographics, (8) Money and finance, (9) Auto and petroleum market, (10) International sector, and (11) Miscellaneous.This chapter describes the basic way of thinking in our core model, following the exposition given in Chapter 1, and the detailed equations are provided in Chapter 5.

Keywords: Quarterly Econometric Model; Wharton; WEFA; Forecast; Klein (search for similar items in EconPapers)
JEL-codes: C01 (search for similar items in EconPapers)
Date: 2018
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