ERI Discussion Paper Series No.54
EPA European model
-Structure and Simulation Properties-

March 1993
Henri DELESSY-DORVILLIUS
(Center For International Prospective Studies)

(abstract)

This paper focuses first on the model general structure and its theoretical basis (Section 1), then on the specification and estimation of the equations (Section 2), finally on the simulation properties (Section 3). All my comments are based only on the two following documents:

"EPA World Economic Model Vol.I - Model Structure-January 1991 version", Discussion Paper No.19, 1991, Economic Research Institute, EPA

"EPA World Economic Model Vol.II - Multipliers-January 1991 Version", Discussion Paper No.19, 1991, Economic Research Institute, EPA


Structure of the whole text

  1. full text別ウィンドウで開きます。(PDF-Format 188 KB)
  2. page1
    1. Model Structure and Simulation Properties
  3. page11
    2. Fiscal Shocks in the EPA World Model
    1. page11
      (1) Fiscal Shocks with Fixed Exchange Rates
    2. page20
      (2) Fiscal Shocks with Floating Exchange Rates
  4. page33
    3. Monetary Shocks in the EPA World Model
  5. 4. A Short Comparison of the Fiscal Multipliers among 4World Models :
    1. page41
      EPA World Model, Interlink(OECD), Multimod(IMF), Mimosa(CEPII-OFCE)
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