This book provides a description of the main macroeconomic models used by the European Central Bank and the euro area national central banks (Eurosystem). These models are used to help prepare economic projections and scenario analysis for individual countries and the euro area as a whole.
The volume takes stock of the current macroeconometric modelling infrastructure available within the Eurosystem, highlighting not only the structures and main features of the models used but also their purposes and underlying model-building philosophies. A 'birds eye view of the key details of the design, structure and characteristics of the models is provided, along with information on the responses of these models to a series of standard economic and policy shocks.
Contents: 1. An Overview of the Structural Econometric Models of Euro Area Central Banks 2. The Area-Wide Model 3. EDGE - The Bank of Finlands Macroeconomic Model of the Euro Area 4. The Eurosystems Multinational-country Model and the Link Block 5. EUROMON: A Macroeconometric Multinational-country Model of the World Economy from the Central Bank of the Netherlands 6. The National Bank of Belgiums Quarterly Model 7. The Macroeconometric Multinational-country Model of the Deutsche Bundesbank 8. The Model of the Banco de España 9. Mascotte: The Banque de France Forecasting Model 10. The Econometric Model of the Bank of Greece 11. The Central Bank of Irelands Model 12. The Bank of Italys Quarterly Model 13. The Luxembourg Block of the Multinational-country Model 14. Morkmon: A Macroeconomic Model of the Netherlands Economy 15. The Austrian Quarterly Model 16. The Annual Macroeconometric Model of the Banco de Portugal 17. The Bank of Finlands Macroeconomic Model BOF5 Index