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COMPACT: a rational expectations, intertemporal model of the United Kingdom economy

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  • Darby, Julia
  • Ireland, Jonathan
  • Leith, Campbell
  • Wren-Lewis, Simon

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  • Darby, Julia & Ireland, Jonathan & Leith, Campbell & Wren-Lewis, Simon, 1998. "COMPACT: a rational expectations, intertemporal model of the United Kingdom economy," Economic Modelling, Elsevier, vol. 16(1), pages 1-52, January.
    • Handle: RePEc:eee:ecmode:v:16:y:1998:i:1:p:1-52
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    1. Julia Dabry & Rebecca Driver & John Ireland & Simon Wren‐Lewis, 1994. "Controlling credit: The macroeconomic consequences of reversing financial liberalisation," New Economy, Institute for Public Policy Research, vol. 1(2), pages 95-100, June.
    2. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173.
    3. Wren-Lewis, Simon, et al, 1996. "The Macroeconomic Effects of Fiscal Policy: Linking an Econometric Model with Theory," Economic Journal, Royal Economic Society, vol. 106(436), pages 543-559, May.
    4. Keith B. Church & Joanne E. Sault & Silvia Sgherri & Kenneth F. Wallis, 2000. "Comparative Properties of Models of the UK Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 171(1), pages 106-122, January.
    5. Carlin, W & Glynn, A & van Reenen, J, 1997. "Quantifying a Dangerous Obsession? Competitiveness and Export Performance in an OECD Panel of Industries," Papers 9, Centre for Economic Performance & Institute of Economics.
    6. Jonathan Ireland & Simon Wren‐Lewis, 2000. "Inflation Dynamics in a New Keynesian Model," Manchester School, University of Manchester, vol. 68(1), pages 92-112, January.
    7. repec:sae:niesru:v:145:y::i:1:p:87-107 is not listed on IDEAS
    8. Moghadam, Reza & Wren-Lewis, Simon, 1994. "Are Wages Forward Looking?," Oxford Economic Papers, Oxford University Press, vol. 46(3), pages 403-424, July.
    9. Sargent, Thomas J & Wallace, Neil, 1975. ""Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule," Journal of Political Economy, University of Chicago Press, vol. 83(2), pages 241-254, April.
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    11. repec:bla:obuest:v:63:y:2001:i:2:p:209-31 is not listed on IDEAS
    12. Stephen Nickell & D Nicolitsas, 1994. "Wages," CEP Discussion Papers dp0219, Centre for Economic Performance, LSE.
    13. Rebecca Driver & Simon Wren‐Lewis, 1995. "Obstacles to EMU," New Economy, Institute for Public Policy Research, vol. 2(4), pages 241-246, December.
    14. repec:bla:scotjp:v:45:y:1998:i:5:p:512-27 is not listed on IDEAS
    15. Bruce C. Greenwald & Joseph E. Stiglitz, 1993. "Financial Market Imperfections and Business Cycles," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(1), pages 77-114.
    16. Giovannini, Alberto, 1988. "The real exchange rate, the capital stock, and fiscal policy," European Economic Review, Elsevier, vol. 32(9), pages 1747-1767, November.
    17. Leith, Campbell & Warren, Paul & Wren-Lewis, Simon, 1997. "Interest Rates and the Price Level," Discussion Papers 9709, University of Exeter, Department of Economics.
    18. Keith B. Church & Joanne E. Sault & Silvia Sgherri & Kenneth F. Wallis, 2000. "Comparative Properties of Models of the UK Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 171(1), pages 106-122, January.
    19. Dornbusch, Rudiger, 1976. "Expectations and Exchange Rate Dynamics," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1161-1176, December.
    20. Turner, David S, 1991. "The Determinants of the Nairu Response in Simulations on the Treasury Model," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 53(3), pages 225-242, August.
    21. Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, April.
    22. Helliwell, J. F. & Higgins, C. I., 1976. "Macroeconomic adjustment processes," European Economic Review, Elsevier, vol. 7(3), pages 221-238, April.
    23. Wren-Lewis, Simon, 1997. "The Choice of Exchange Rate Regime," Economic Journal, Royal Economic Society, vol. 107(443), pages 1157-1168, July.
    24. Ireland, Jonathan & Wren-Lewis, Simon, 1992. "Buffer Stock Money and the Company Sector," Oxford Economic Papers, Oxford University Press, vol. 44(2), pages 209-231, April.
    25. Julia Darby & Jonathan Ireland, 1994. "Consumption, Forward Looking Behaviour and Financial Deregulation," Working Papers Series 94/5, University of Stirling, Division of Economics.
    26. repec:sae:niesru:v:161:y::i:1:p:91-110 is not listed on IDEAS
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    1. The economic effects of a pandemic
      by Mainly Macro in Mainly Macro on 2020-03-02 09:27:00
    2. What have Keynesians learnt since Keynes?
      by Mainly Macro in Mainly Macro on 2012-02-12 16:51:00

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    Cited by:

    1. Kenneth F. Wallis & Jan P. A. M. Jacobs, 2005. "Comparing SVARs and SEMs: two models of the UK economy," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 20(2), pages 209-228.
    2. Wallis, Kenneth F., 2008. "Macroeconomic modelling in central banks in Latin America," Documentos de Proyectos 3627, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Mitchell, Peter R. & Sault, Joanne E. & Wallis, Kenneth F., 2000. "Fiscal policy rules in macroeconomic models: principles and practice," Economic Modelling, Elsevier, vol. 17(2), pages 171-193, April.
    4. Kangami, Divine Ngenyeh, 2021. "Challenges of Forecasting the Long-Run Economic Consequences of Pandemics for Selected sub-Saharan Economies," African Journal of Economic Review, African Journal of Economic Review, vol. 9(3), June.
    5. Schoder, Christian, 2020. "A Keynesian Dynamic Stochastic Disequilibrium model for business cycle analysis," Economic Modelling, Elsevier, vol. 86(C), pages 117-132.
    6. Marcus R. Keogh‐Brown & Simon Wren‐Lewis & W. John Edmunds & Philippe Beutels & Richard D. Smith, 2010. "The possible macroeconomic impact on the UK of an influenza pandemic," Health Economics, John Wiley & Sons, Ltd., vol. 19(11), pages 1345-1360, November.
    7. Jacobs, Jan & Wallis, Kenneth F., 2002. "Comparing SVARs and SEMs: more shocking stories," Research Report 02C56, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    8. Patrick Minford & Prakriti Sofat, 2004. "An Open Economy Real Business Cycle Model for the UK," Money Macro and Finance (MMF) Research Group Conference 2004 23, Money Macro and Finance Research Group.

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