Assessing the performance of a macroeconomic model
Hukkinen, Juhana; Virén, Matti (02.02.1995)
Numero
5/1995Julkaisija
Suomen Pankki
1995
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-20140807132Tiivistelmä
This paper contains a description of a small quarterly model for the Finnish economy model (formerly, the QMED model).In addition to the basic features of this macroeconomic model, we report results from some stochastic simulations which illustrate the model's properties.Thus, the role of uncertainty in both endogenous and exogenous variables is scrutinized.We also report some simulations in which we try assess the importance of various factors which (presumably) contributed to the economic depression in Finland in 1991-1994.