Economics at your fingertips  

MASCOTTE: Model for AnalySing and foreCasting shOrT TErm developments

M. Baghli, V. Brunhes-Lesage, Olivier de Bandt, Henri Fraisse and Jean-Pierre Villetelle

Working papers from Banque de France

Abstract: MASCOTTE is the new version of the Banque de France's macro-econometric forecasting model. Following the last rebasing of National Accounts (currently at 1995 price), the previous version of the model was simplified, re-specified and re-estimated. The model is essentially used for making macro-economic projections of the French economy over a two-to-three year horizon, which requires an accounting framework as close as possible to the French National Accounts. The main agents are companies, households, general government and the rest of the world. The new version now includes a supply block derived from the explicit optimisation behaviour of companies using a Cobb-Douglas technology under imperfect competition, and a new Wage Setting schedule. Full homogeneity of the nominal side of the model ensures the independence between the nominal equilibrium and the real equilibrium, the latter being only determined in the long run by relative prices. Furthermore, as regards the specification of equations, special attention was paid to the consequences of changes in short-term interest rates.

Keywords: Macro-economic model; Applied econometrics; Forecasting; France (search for similar items in EconPapers)
JEL-codes: E17 E27 E37 (search for similar items in EconPapers)
Pages: 123 pages
Date: 2004
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link) ... g-paper_106_2004.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in Working papers from Banque de France Banque de France 31 Rue Croix des Petits Champs LABOLOG - 49-1404 75049 PARIS. Contact information at EDIRC.
Bibliographic data for series maintained by Michael brassart ().

Page updated 2024-07-21
Handle: RePEc:bfr:banfra:106