Hostname: page-component-78c5997874-m6dg7 Total loading time: 0 Render date: 2024-11-15T08:51:10.321Z Has data issue: false hasContentIssue false
  • English
  • Français

Re-Estimation of the National Institute Model

Published online by Cambridge University Press:  26 March 2020

Simon Brooks  and
Brian Henry
Simon Brooks
Affiliation:
National Institute of Economic and Social Research
Brian Henry
Affiliation:
National Institute of Economic and Social Research
Get access Rights & Permissions [Opens in a new window]

Extract

Economists who regularly use econometric models are well aware of the problems which arise if those models are not updated frequently. Updating is more than mere mechanical revision in the face of new data. This article will reveal that quite substantial changes have taken place in the National Institute's model as a result of a comprehensive re-estimation exercise, undertaken over the last year, which encompassed most of the behavioural equations in the model. Although there will not be space to describe all of these changes in full, the next section provides a brief account of the main developments. More information on some of the equations is given in an appendix, and the final section of the main text describes the results of a range of simulation exercises using the whole model.

Type
Articles
Information
National Institute Economic Review , Volume 103 , February 1983 , pp. 62 - 66
Copyright
Copyright © 1983 National Institute of Economic and Social Research

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Brooks, S., ‘Systematic econometric comparisons: exports of manufactured goods’, National Institute Economic Review, no. 97, August 1981.CrossRefGoogle Scholar
Hall, S., The exchange rate, National Institute of Economic and Social Research, mimeo, 1983.Google Scholar
Sargan, D., ‘Wages and prices in the UK: a study in econometric methodology’, in Econometric Analysis for National Economic Planning, ed. Hart, P. E., Mills, G. and Whitaker, J. (1964).Google Scholar
HM Treasury, Macroeconomic model technical manual, 1982.Google Scholar