EconPapers    
Economics at your fingertips  
 

Stochastic simulation and dynamic properties of the new version of the Italian model

Carlo Bianchi (), Giorgio Calzolari, Eugene M. Cleur, Guido Gambetta, Anna Stagni and Frederic Sterbenz

MPRA Paper from University Library of Munich, Germany

Abstract: This paper describes the results of some stochastic simulation experiments performed on the most updated version of the Italian model. Due to a change in the income accounts system, the model has been completely reestimated using the new quarterly data. It consists of 128 equations, 50 of which are stochastic. As regards to the structure of the model, the main differences with respect to the previous version lie in the income sector: now the different components of income distribution are determined endogenously and disaggregated by sector, and affect directly private disposable income. Stochastic simulation has been performed using the program described in [1]. The generation of pseudo randorn numbers with multivariate normal distribution has been performed using the Box-Muller technique [3] and McCarthy algorithm [9].

Keywords: Stochastic simulation; econometric model; Italian economy; project Link (search for similar items in EconPapers)
JEL-codes: C53 C63 (search for similar items in EconPapers)
Date: 1978-10, Revised 1978-10
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/23355/1/MPRA_paper_23355.pdf original version (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:pra:mprapa:23355

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2020-07-01
Handle: RePEc:pra:mprapa:23355