A Small Macroeconometric Model of the People's Republic of China

Duo Qin, Marie Anne Cagas (), Geoffrey Ducanes, Nedelyn Magtibay-Ramos (), Pilipinas Quising (), Xinhua He, Rui Liu and Shiguo Liu
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Marie Anne Cagas: Asian Development Bank
Nedelyn Magtibay-Ramos: Asian Development Bank
Pilipinas Quising: Asian Development Bank
Xinhua He: Chinese Academy of Social Sciences
Rui Liu: Chinese Academy of Social Sciences
Shiguo Liu: Chinese Academy of Social Sciences

No 81, ADB Economics Working Paper Series from Asian Development Bank

Abstract: This paper describes a quarterly macroeconometric model of the economy of People's Republic of China. The model comprises household consumption, investment, government, trade, production, prices, money, and employment blocks. The equilibrium-correction form is used for all the behavioral equations and the general simple dynamic specification approach is adopted in order to ensure the best possible blend of a priori long-run theories with a posteriori identified short-run factors, as well as country-specific features. The tracking performance of the model is evaluated. Forecasting and empirical investigation of a number of topical macroeconomic issues utilizing model simulations have shown the model to be immensely useful.

Keywords: macroeconometric model; Peoples Republic of China; quarterly; economy; equilibrium-correction form (search for similar items in EconPapers)
JEL-codes: C53 E27 P20 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2006-06-01
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