Macro-Economic Model Building for Ireland. ESRI Memorandum Series No. 14 1962(?)

Leser, C. E. V. (1962) Macro-Economic Model Building for Ireland. ESRI Memorandum Series No. 14 1962(?). [Policy Paper]

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Abstract

Macro-models describing the working of a nation's economy have been constructed for a number of countries, differing from each other in the number of variables used, the extent of disaggregation introduced, and the complexity of interrelationships. At one end of the scale there are models consisting of a few equations only, like the one, developed for the Federal Republic of Germany by Gehrig (1963); at the other end, there are very detailed structure like the Social Science Research Council model for the United States of America (Klein, 1964). A new econometric model is not necessarily of general interest merely because it adds a new country to the list of those for which models have been constructed. However, a number of problems arise in model building which have to be answered anew in each context, in the light of the available data and the main purpose for which the model is constructed. It is hoped that the very simple model presented here still offers a few points of general interest.

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