Estimated Equations of the Core Model

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

Chapter 5 in Klein's Last Quarterly Econometric Model of the United States:Wharton Quarterly Econometric Model: Mark 10, 2018, pp 25-208 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:How to Read WEFA Estimated EquationsA System of Estimated EquationsFinal DemandConsumption spending: Durable, non-durable and servicesConsumption expenditure on durable goodsConsumption spending on nondurable goodsConsumption spending on servicesFixed investment and changes in inventoryNonresidential fixed investmentUser cost of capitalCapital stock (nonresidential)Residential investmentChanges in inventoryInventory stockGovernment expenditureInternational exports and importsExportsImportsNet exports (international)GDP, GNP and potential capacityIncome DeterminationPersonal incomeWage actualsCorporate profitCapital consumption allowanceInventory valuationLabor MarketEmploymentAverage weekly hoursUnemploymentLabor forceLabor force participation ratePrice and CostsPricesPPI (Producer price index)CPI (Consumer price index)PDG (Implicit price deflator)Wage and average compensationAverage compensation per manhour (public)Average hourly earningsInput cost termUnit labor costEmployment cost indexAnticipated inflationUnit valueGovernment Revenues and ExpendituresGovernment receiptGovernment expenditureGovernment surplusSubsidiesTax rateTransfer paymentProfit tax rateProduction and Sectoral DemandIP (Industrial production index)Total demandPopulation and DemographicsPopulationHouseholdMoney and FinanceInterest rateLoansMoneyAuto and Petroleum MarketAuto production and car salePetroleum demandInternational SectorExchange rate (international)MiscellaneousResidualA Description of Variables in the Wharton Model Mark 10

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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