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The IMK’s Model of the German Economy

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  • Katja Rietzler

Abstract

This IMK Study is a documentation of the IMK's macro-econometric model of the German economy. Currently the model includes 48 behavioural equations, which are usually specified as error-correction equations, and 61 definitions. The model is based on seasonally unadjusted quarterly national accounts data complemented by additional statistics and calculations of the IMK. Special features of the model include a more detailed representation of the German exports by destination (euro area, UK, USA, rest of the world) as well as a Keynesian employment function. The model is used both for economic policy simulations and forecasts.

Suggested Citation

  • Katja Rietzler, 2012. "The IMK’s Model of the German Economy," IMK Studies 29-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    • Handle: RePEc:imk:studie:29-2012
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    File URL: http://www.boeckler.de/pdf/p_imk_study_29_2012.pdf
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    References listed on IDEAS

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    1. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    2. Manh Ha Duong & Camille Logeay & Sabine Stephan & Rudolf Zwiener & Serhiy Yahnych, 2005. "Modelling European Business Cycles (EBC Model): A Macroeconometric Model of Germany ; Version March 2005," Data Documentation 5, DIW Berlin, German Institute for Economic Research.
    3. Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November.
    4. Sabine Stephan, 2006. "German Exports to the Euro Area," Empirical Economics, Springer, vol. 31(4), pages 871-882, November.
    5. Stock, James H, 1987. "Asymptotic Properties of Least Squares Estimators of Cointegrating Vectors," Econometrica, Econometric Society, vol. 55(5), pages 1035-1056, September.
    6. Volker Meinhardt & Katja Rietzler & Rudolf Zwiener, 2009. "Konjunktur und Rentenversicherung - gegenseitige Abhängigkeiten und mögliche Veränderungen durch diskretionäre Maßnahmen," IMK Studies 03-2009, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    7. Lütkepohl,Helmut & Krätzig,Markus (ed.), 2004. "Applied Time Series Econometrics," Cambridge Books, Cambridge University Press, number 9780521547871, January.
    8. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 39(3), pages 106-135.
    9. Chow, Gregory C & Lin, An-loh, 1971. "Best Linear Unbiased Interpolation, Distribution, and Extrapolation of Time Series by Related Series," The Review of Economics and Statistics, MIT Press, vol. 53(4), pages 372-375, November.
    10. Lütkepohl,Helmut & Krätzig,Markus (ed.), 2004. "Applied Time Series Econometrics," Cambridge Books, Cambridge University Press, number 9780521839198, January.
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    Cited by:

    1. Alexander Herzog-Stein & Fabian Lindner & Rudolf Zwiener, 2013. "Nur das Angebot zählt?," IMK Report 87-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    2. Gustav A. Horn & Alexander Herzog-Stein & Peter Hohlfeld & Fabian Lindner & Ansgar Rannenberg & Katja Rietzler & Sabine Stephan & Thomas Theobald & Silke Tober, 2014. "Der gefährdete Aufschwung - Prognose der Wirtschafzlichen Entwicklung 2014/2015," IMK Report 98-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Alexander Herzog-Stein & Fabian Lindner & Rudolf Zwiener, 2013. "Is the supply side all that counts?," IMK Report 87e-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    4. Gustav A. Horn & Alexander Herzog-Stein & Ansgar Rannenberg & Katja Rietzler & Silke Tober & Rudolf Zwiener, 2014. "Wirtschaftspolitische Herausforderungen 2014," IMK Report 90-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

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