The Japanese Economic Model: JEM

Yuki Teranishi, Ippei Fujiwara and Naoko Hara
Authors registered in the RePEc Author Service: Yasuo Hirose

No 723, Econometric Society 2004 Far Eastern Meetings from Econometric Society

Abstract: In this paper, we set out the JEM (Japanese Economic Model), a large macroeconomic model of the Japanese Economy. Although the JEM is a theoretical model designed with a view to overcoming the Lucas (1976) critique of traditional large macroeconomic models, it can also be used for both projection and simulation analysis. This is achieved by embedding a mechanism within which ``short-run dynamics,'' basically captured by a vector autoregression model, eventually converge to a ``short-run equilibrium,'' which is defined using a dynamic general equilibrium-type model

Keywords: Large Macroeconomic Model; Monetary Policy (search for similar items in EconPapers)
JEL-codes: C30 E10 E17 (search for similar items in EconPapers)
Date: 2004-08-11
New Economics Papers: this item is included in nep-sea
References: Add references at CitEc
Citations: View citations in EconPapers (5)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: The Japanese Economic Model (JEM) (2005)
Working Paper: The Japanese Economic Model: JEM (2004)
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: https://EconPapers.repec.org/RePEc:ecm:feam04:723

Access Statistics for this paper

More papers in Econometric Society 2004 Far Eastern Meetings from Econometric Society Contact information at EDIRC.
Bibliographic data for series maintained by Christopher F. Baum ().