A MACROECONOMETRIC MODEL FOR ISRAEL 1962-90 - A MARKET EQUILIBRIUM APPROACH TO AGGREGATE DEMAND AND SUPPLY

被引：6

作者：

BEENSTOCK, M ^{[1
]}

LAVI, Y ^{[1
]}

OFFENBACHER, A ^{[1
]}

机构：

[1] BANK ISRAEL,RES DEPT,JERUSALEM,ISRAEL

来源：

ECONOMIC MODELLING | 1994年 / 11卷 / 04期

关键词：

MACROECONOMETRIC MODEL; ISRAEL; SUPPLY;

D O I：

10.1016/0264-9993(94)90002-7

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We report the specification, estimation and simulation of a macroeconometric model of the Israeli economy. A distinctive feature of the model is the clear articulation of markets in terms of supply, demand and price determination. The principal markets consists of output, labor, exports, credit, money and foreign exchange. All markets are assumed to clear in the short run except the labor market which clears in the long run. The product market solves for product and for the price level relative to the exchange rate. We suggest that this is a sensible procedure for inflation-prone economies. The attention to both supply and demand imparts a 'classical' flavor to the model which is fundamentally different from earlier 'Keynesian' attempts to model the Israeli economy.

引用

页码：413 / 462

页数：50