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The German block of the ESCB multi-country model

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  • Warmedinger, Thomas
  • Vetlov, Igor

Abstract

The paper presents the German block of the ESCB multi-country model. It builds on previous modelling work on the Area Wide Model and other country blocks of the ESCB multicountry-model. Whilst being analogous to these models in following a common modelling approach and the same theoretical framework, the German model has also some unique features for instance with regard to the modelling of the investment components, imports and employment. The paper provides a brief overview of the theoretical framework of the model, its estimation results, and a discussion of the dynamic model properties. The model is primarily used for preparing quarterly projections for the German economy as well as for policy analysis. JEL Classification: C3, C5, E1, E2

Suggested Citation

  • Warmedinger, Thomas & Vetlov, Igor, 2006. "The German block of the ESCB multi-country model," Working Paper Series 654, European Central Bank.
    • Handle: RePEc:ecb:ecbwps:2006654
    Note: 375746
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    File URL: https://www.ecb.europa.eu//pub/pdf/scpwps/ecbwp654.pdf
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    References listed on IDEAS

    as
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    7. Angelini, Elena & McAdam, Peter & D'Agostino, Antonello, 2006. "The Italian block of the ESCB multi-country model," Working Paper Series 660, European Central Bank.
    8. Estrada, Ángel & Willman, Alpo, 2002. "The Spanish block of the ESCB-multi-country model," Working Paper Series 149, European Central Bank.
    9. Hans-Werner Sinn, 2005. "Basar-Ökonomie Deutschland - Exportweltmeister oder Schusslicht?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(06), pages 03-42, March.
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    11. Angelini, Elena & Ciccarelli, Matteo & Boissay, Frédéric, 2006. "The Dutch block of the ESCB multi-country model," Working Paper Series 646, European Central Bank.
    12. Villetelle, Jean-Pierre & Boissay, Frédéric, 2005. "The French block of the ESCB multi-country model," Working Paper Series 456, European Central Bank.
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    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

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    2. Titarenko, Deniss, 2008. "Investīcijas kā Latvijas ekonomikas izaugsmes faktors [Investments as a Growth Factor of the Latvian Economy]," MPRA Paper 16775, University Library of Munich, Germany.
    3. Angelini, Elena & Marcellino, Massimiliano, 2011. "Econometric analyses with backdated data: Unified Germany and the euro area," Economic Modelling, Elsevier, vol. 28(3), pages 1405-1414, May.
    4. Grech, Aaron George & Grech, Owen & Micallef, Brian & Rapa, Noel & Gatt, William, 2013. "A Structural Macro-Econometric Model of the Maltese Economy," MPRA Paper 46128, University Library of Munich, Germany.
    5. Rasmus Kattai, 2005. "EMMA - A Quarterly Model of the Estonian Economy," Bank of Estonia Working Papers 2005-12, Bank of Estonia, revised 12 Dec 2005.
    6. Schnatz, Bernd, 2006. "Is reversion to PPP in euro exchange rates non-linear?," Working Paper Series 682, European Central Bank.
    7. Aleksejs Melihovs & Gundars Davidsons, 2006. "The Role of Production Progress and Human Capital in the Economic Growth of Latvia," Working Papers 2006/03, Latvijas Banka.
    8. Andres Frick & Michael Graff & Jochen Kurt Hartwig & Boriss Siliverstovs, 2010. "Discretionary Fiscal Policy," KOF Working papers 10-253, KOF Swiss Economic Institute, ETH Zurich.
    9. Ramez Abubakr Badeeb & Hooi Hooi Lean, 2017. "Natural Resources and Productivity: Can Banking Development Mitigate the Curse?," Economies, MDPI, vol. 5(2), pages 1-14, April.
    10. Julius Stakenas, 2015. "Forecasting Lithuanian Inflation," Bank of Lithuania Working Paper Series 17, Bank of Lithuania.

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    More about this item

    Keywords

    Germany.; Macro-econometric Modelling;

    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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