COMPACT: a rational expectations, intertemporal model of the United Kingdom economy

被引：10

作者：

Darby, J ^{[1
]}

Ireland, J

Leith, C

Wren-Lewis, S

机构：

[1] Univ Glasgow, Dept Econ, Glasgow G12 8RT, Lanark, Scotland

[2] Univ Strathclyde, Dept Econ, Glasgow G4 0LN, Lanark, Scotland

[3] Univ Exeter, Dept Econ, Exeter EX4 4RJ, Devon, England

来源：

ECONOMIC MODELLING | 1999年 / 16卷 / 01期

关键词：

United Kingdom; econometric model; consumption; NAIRU; vintage production;

D O I：

10.1016/S0264-9993(98)00023-6

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

COMPACT is a quarterly macro econometric model of the UK primarily designed for policy analysis. The model includes a consumption function derived explicitly from intertemporal optimisation, a vintage production technology, nominal rigidities in wage and price setting, and trade equations which are influenced by the variety and quality of production relative to the rest of the world. We discuss the overall properties of the model, as well as features of major equations. We stress the importance of relating these properties to simpler theoretical paradigms. Several simulations illustrating key properties of COMPACT are presented. A complete equation listing is provided in an Appendix. (C) 1999 Elsevier Science B.V. All rights reserved.

引用

页码：1 / 52

页数：52