Econometric Model of the United States
E681558
Econometric Model of the United States is a large-scale macroeconometric model developed to analyze and forecast the U.S. economy, particularly associated with the pioneering work of economist Lawrence Klein.
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf | macroeconometric model ⓘ |
| associatedWith | Lawrence Klein NERFINISHED ⓘ |
| basedOn | Keynesian macroeconomics NERFINISHED ⓘ |
| calibration | estimated on historical U.S. macroeconomic data ⓘ |
| countryModeled | United States NERFINISHED ⓘ |
| dataFrequency |
annual data
ⓘ
quarterly data ⓘ |
| developedAt | University of Pennsylvania NERFINISHED ⓘ |
| developedBy | Lawrence Klein NERFINISHED ⓘ |
| field |
econometrics
ⓘ
macroeconomics ⓘ |
| hasComponent |
behavioral equations
ⓘ
identity equations ⓘ stochastic error terms ⓘ |
| historicalPeriodCovered | post–World War II U.S. economy ⓘ |
| includes |
consumption equations
ⓘ
export equations ⓘ fiscal sector equations ⓘ government expenditure equations ⓘ import equations ⓘ investment equations ⓘ labor market equations ⓘ monetary sector equations ⓘ price equations ⓘ wage equations ⓘ |
| influenced |
LINK Project global models
NERFINISHED
ⓘ
Wharton Econometric Forecasting Model NERFINISHED ⓘ |
| languageOfImplementation | FORTRAN NERFINISHED ⓘ |
| method |
econometric estimation
ⓘ
simultaneous equations ⓘ |
| purpose |
analyze effects of fiscal policy
ⓘ
analyze effects of monetary policy ⓘ evaluate macroeconomic stabilization policies ⓘ study business cycles ⓘ |
| recognizedFor | pioneering large-scale macroeconometric modeling ⓘ |
| relatedTo | Lawrence Klein’s Nobel Prize in Economics NERFINISHED ⓘ |
| timeHorizon |
medium-run forecasting
ⓘ
short-run forecasting ⓘ |
| use |
economic forecasting
ⓘ
policy analysis ⓘ simulation of macroeconomic scenarios ⓘ |
| usedBy |
academic researchers
ⓘ
policy institutions ⓘ private forecasters ⓘ |
Referenced by (1)
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