Macroeconomic Models for the PC+L862

Willem Bier

No 1992/110, IMF Working Papers from International Monetary Fund

Abstract: This paper describes a computer program with which one can build macroeconomic models. It is possible to specify up to eighteen behavioral equations, each with between five and eleven independent variables. For certain variables, the user can decide whether they will be endogenous or exogenous. Many policy simulations dealing with adjustment and growth issues can be performed with this program by varying any of the exogenous variables, and these experiments can be repeated for different model specifications. This paper describes a number of experiments with a model of an open economy where output and prices are endogenous.

Keywords: WP; price; rate of inflation; excess supply; nominal exchange rate; term d; import function; import demand function; price of imports; price development; Monetary base; Import prices; Export prices; Demand for money (search for similar items in EconPapers)
Pages: 50
Date: 1992-12-01
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1992/110

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