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The Quarterly Japanese Economic Model (Q-JEM): 2019 version

Naohisa Hirakata (), Kazutoshi Kan, Akihiro Kanafuji, Yosuke Kido (), Yui Kishaba, Tomonori Murakoshi and Takeshi Shinohara
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Kazutoshi Kan: Bank of Japan
Akihiro Kanafuji: Bank of Japan
Yui Kishaba: Bank of Japan
Tomonori Murakoshi: Bank of Japan
Takeshi Shinohara: Bank of Japan

No 19-E-7, Bank of Japan Working Paper Series from Bank of Japan

Abstract: In this paper, we introduce the updated version of the Quarterly Japanese Economic Model (Q-JEM), which was first developed by Ichiue et al. (2009) and updated by Fukunaga et al. (2011). Q-JEM is a large-scale semi-structural model of the Japanese economy, which is designed to incorporate greater disaggregation of expenditure components and detailed financial market information. Compared to Dynamic Stochastic General Equilibrium (DSGE) models, Q-JEM puts more emphasis on fitting data, while relaxing some theoretical discipline. To improve public access to the model, we share the replication files of the simulations conducted in the paper.

Keywords: Macroeconomic model; Japanese economy (search for similar items in EconPapers)
JEL-codes: E17 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac and nep-ore
Date: 2019-06-26
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