EconPapers    
Economics at your fingertips  
 

A forward-looking multicountry model: MX3

Joseph Gagnon

No 359, International Finance Discussion Papers from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This is paper discusses the theoretical structure and empirical properties of MX3, a multicountry macroeconometric model with rational expectations. MX3 is a medium-sized quarterly model of the United States, Japan, and West Germany. The primary objective of the model is to analyze the effect of fiscal and monetary rules on national economies in an international context. By incorporating rational expectations into almost all of the model's behavioral equations, MX3 takes a large step toward addressing the \"Lucas critique\" of model-based policy analysis.

Keywords: Japan; Germany; Econometric models (search for similar items in EconPapers)
Date: 1989
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://www.federalreserve.gov/pubs/ifdp/1989/359/default.htm (text/html)
http://www.federalreserve.gov/pubs/ifdp/1989/359/ifdp359.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: https://EconPapers.repec.org/RePEc:fip:fedgif:359

Access Statistics for this paper

More papers in International Finance Discussion Papers from Board of Governors of the Federal Reserve System (U.S.) Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ; Keisha Fournillier ().

 
Page updated 2025-03-30
Handle: RePEc:fip:fedgif:359